Beyond microtransactions: The future of game monetisation lies in loyalty, not loot boxes

• The next phase of monetisation focuses on long-term value, deeper player relationships, and sustainable revenue.
• Community-building drives revenue as loyal players engage across subscriptions, merch, content, and social channels.

Chris Meredith is SVP Business Development - EMEA at Xsolla.

The games industry has spent the last decade perfecting the art of microtransactions. But perfection, in this case, is something of a poisoned chalice. From mobile time-gating schemes to overpriced character skins, the industry has wrung every last drop from the freemium model.

And while the tills are still ringing, there’s a distinct sense that the party is winding down. Players are growing cynical, regulators are circling, and the days of easy money through “whales” may soon be over.

If microtransactions were the first act of gaming’s monetisation revolution, we’re now entering the second. This next phase is more ambitious, more complex, and, crucially, more sustainable.

It’s not about squeezing more money out of the same user base. It’s about creating long-term value, deepening relationships with players, and diversifying revenue streams in ways that feel less like a casino and more like a community.

Studios must stop thinking in terms of short-term extraction and start thinking in terms of long-term loyalty. The good news? The toolkit for this future already exists: subscriptions, direct-to-consumer (D2C) web shops, creator economies, and digital ownership models are not just buzzwords - they’re viable, growing pillars of modern game monetisation. 

The subscription shift

Let’s begin with subscriptions. Once the reserve of MMOs and Xbox Live, subscription models are quietly reshaping how games are discovered, played, and paid for. Xbox Game Pass and PlayStation Plus have made a Netflix-style buffet of games not only possible but preferable.

For developers, the appeal is obvious: predictable revenue, broader reach, and a built-in incentive to keep players engaged beyond the first week. 

But this model is not just for the platform holder. Ubisoft+, EA Play, and other publisher-specific subscriptions show that even individual studios can benefit, provided they have a deep enough catalogue.

The real opportunity, however, may lie in niche subscriptions: think “cosy games” bundles or indie game passes tailored to specific communities. Much like streaming services in film and television, gaming may fragment into smaller, passionate ecosystems. 

D2C and the cattle for control

While some platforms have provided access to massive audiences, they’ve also taken a significant cut of revenues and control. Increasingly, studios are seeking to establish direct relationships with their audiences through direct-to-consumer (D2C) web shops.

The benefit? Better margins, cleaner data, and - most importantly - the chance to build an authentic brand relationship. In a market flooded with content, owning your customer data and contact channels is no longer a luxury; it’s a necessity.

Creator economies and co-creation

Another underutilised lever of monetisation is the creator economy. Twitch streamers, modders, cosplayers, and YouTubers already contribute immense value to games - sometimes keeping them alive years after launch. Studios are finally realising that these creators aren’t peripheral; they’re central to the game’s lifecycle.

The next evolution is more formalised co-creation. Give players the tools and a cut of the revenue, and they’ll reward you with engagement and evangelism - that money can’t buy. 

Building community is building revenue

At the heart of all these trends is a single truth: monetisation is moving from transactions to relationships. A player who spends £50 on a loot box and churns after a week is less valuable, in every sense, than one who pays £10/month, buys a hoodie from your store, watches your lore videos, and joins your Discord server.

Community is no longer a nice-to-have. It’s a monetisation strategy in its own right. The future studio will resemble less a game factory and more a fandom platform. The winners will be those who think beyond the box product or the Battle Pass and who invest in ecosystems that players want to be part of, not just pay into. 

The age of microtransactions won’t disappear overnight. But the future belongs to those who see beyond it. In a world where attention is scarce and loyalty is priceless, studios must monetise not just through gameplay, but through connection.