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TimSweeneyEpic's profile
Tim Sweeney
Tim Sweeney
Tim Sweeney
@TimSweeneyEpic

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Tim Sweeney

@TimSweeneyEpic

Epic Games founder & CEO

epicgames.com
Joined August 2013

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    1. Krolmar‏ @Krolmar1 Mar 4
      • Report Tweet
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      Replying to @ahlipedang @Miraglyth and

      12% as cut is not proven to be sustainable with profit. EGS was in loss in 2019 subsidied with Fortnite money. We will see if EGS will be healthy profitable to support all released games for years, to cover neccessary store development etc. without shrinking Fortite money bag.

      1 reply 0 retweets 6 likes
    2. Mike‏ @Miraglyth Mar 4
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      Replying to @Krolmar1 @ahlipedang and

      We know that in some territories where taxation is higher than 12%, EGS passes on the excess cost direct to the customer. The 30% storefronts just absorb it. In a hypothetical future of EGS wiping Steam out, I can easily imagine the 12% rising because "costs have changed since".

      4 replies 0 retweets 8 likes
    3. Tim Sweeney‏ @TimSweeneyEpic Mar 4
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      Replying to @Miraglyth @Krolmar1 and

      As we’ve said all along, 12% is our permanent revenue sharing rate and won’t go up in the future, and that our direct operating costs are in the 5-7% range, hence it’s a sustainable business.

      4 replies 0 retweets 32 likes
    4. Andlu‏ @4Andlu Mar 4
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      Replying to @TimSweeneyEpic @Miraglyth and

      why do we have to pay fees then in some countries?

      1 reply 0 retweets 7 likes
    5. Tim Sweeney‏ @TimSweeneyEpic Mar 4
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      Replying to @4Andlu @Miraglyth and

      The payment processing fees in several developing economies cover the extraordinary cost of payments there, which are often very high overhead, cash card based systems.

      2 replies 0 retweets 6 likes
    6. Andlu‏ @4Andlu Mar 4
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      Replying to @TimSweeneyEpic @Miraglyth and

      and you're aware that steam does not have any of thoses fees, at least not for my country / most if not all latin american countries?

      3 replies 0 retweets 9 likes
    7. Tim Sweeney‏ @TimSweeneyEpic Mar 4
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      Replying to @4Andlu @Miraglyth and

      Yes, Steam takes 30% from developers everywhere, no matter how low the payment processing costs are in each territory - such as 2.5% in the US and 3.5% in Western Europe.

      1 reply 0 retweets 3 likes
    8. Andlu‏ @4Andlu Mar 4
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      Replying to @TimSweeneyEpic @Miraglyth and

      how come you can't just pay up the fees if your store only needs 5% of the total rev for upkeep?

      1 reply 0 retweets 9 likes
    9. Tim Sweeney‏ @TimSweeneyEpic Mar 4
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      Replying to @4Andlu @Miraglyth and

      We considered that, but two considerations overrode it. One was that we wanted the store to fully cover its operating costs from the very beginning to ensure that operations (payments, bandwidth, customer support) were sound and sustainable.

      2 replies 0 retweets 7 likes
    10. Tim Sweeney‏ @TimSweeneyEpic Mar 4
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      Replying to @TimSweeneyEpic @4Andlu and

      Second, several territories had both efficient (sub-6%) and inefficient payment methods in wide use, and we wanted to encourage customers to pay in the most efficient way possible, so that we weren’t subsidizing an inefficient alternative.

      1 reply 0 retweets 6 likes
      Tim Sweeney‏ @TimSweeneyEpic Mar 4
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      Replying to @TimSweeneyEpic @4Andlu and

      This was especially spurred by one popular international payment method which charged unusually high fees and then rolled them into a huge marketing campaign, beating our more efficient payment methods there.

      7:45 AM - 4 Mar 2020
      • 4 Likes
      • 𝓙𝓸𝓷𝓪𝓼 𝓑𝓮𝓷𝓳𝓪𝓶𝓲𝓷 90one80 Deepfried Lemon Aubrey Serr
      1 reply 0 retweets 4 likes
        1. New conversation
        2. Tim Sweeney‏ @TimSweeneyEpic Mar 4
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          Replying to @TimSweeneyEpic @4Andlu and

          That said, there are several territories where we are covering up to 8% of payment processing fees because we’ve studied them and concluded they are as efficient as is achievable given local banking conditions.

          1 reply 0 retweets 5 likes
        3. Tim Sweeney‏ @TimSweeneyEpic Mar 4
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          Replying to @TimSweeneyEpic @4Andlu and

          The whole experience led to a realization that 30% fees which cover all payment processing has led to the emergence of numerous highly inefficient payment scenarios that, in a more competitive environment, would have never existed.

          2 replies 0 retweets 5 likes
        4. 25 more replies

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