Microsoft has also had internal debates about whether to put new releases of Call of Duty into Game Pass. I understand this is a debate that has been ongoing internally for quite some time, with concerns from some that the revenue that Call of Duty typically generates for Activision Blizzard will be undermined by Game Pass.

I'm told that Microsoft has also considered increasing the price of Game Pass Ultimate again. These are only considerations, so a final decision could mean we still see a future Call of Duty release appear in most versions of Game Pass. The debate internally reflects the fact Microsoft's Xbox strategy has shifted from just delivering its games exclusively into Game Pass to considering bringing more Xbox games to multiple platforms.

I understand Hellblade II is another game that Microsoft has been considering for the PS5. If that ever happens, at this point, it's not clear if even that would be considered a success.