In April 2022, of the 33.6 million subscriptions on Xbox consoles, 21.9 million were for Game Pass (excluding PC), with the remaining 11.7 million being Xbox Live Gold. The net revenue per subscription was $9.26 – just shy of the $9.99 price tag, suggesting most subscribers pay full price. By comparison, Microsoft was receiving $6.10 for each Xbox Live Gold subscription.
The kind of folks who read about savvy cost-saving methods on internet forums are always a vocal minority. The vast majority of users are always going to have signed up directly through the console, rather than faffing about with coupons and cheeky multi-step methods. Partially because it’s far more convenient to just set up a monthly auto-pay, and partly because not everyone has the disposable income to pay for multiple years up front, even though it would save them money down the line.
And I’m saying this as someone who uses a combination of MS Rewards, Nectar Points, a staff discount on digital coupons, ‘cashback’ rebates, and money or gift cards from answering surveys to fund my Xbox habit.