3 Added good points made by commenters.
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The benefits are often money related.

From a console manufacturer perspective, an exclusive title means their console becomes more attractive if a high profile game is only available to them. Thus to them it is a marketing opportunity (and probably comes from their marketing budget). It may also be an opportunity to sell specific hardware (example Playstation VR).

For the development team, it may limit their sales, however there may be some benefits out of the deal that outweighs the lost sales.

These may be:

  • Access to development resources that otherwise may be hard to get (reducing time and saving money). 
  • Access to prototype hardware that may otherwise be hard to get (opportunity to break into an emerging market - launch titles may achieve greater sales due to limited competition).
  • Console manufacturer may pay for the exclusivity up front (reduces the risk of a game since part of the budget is covered).
  • Assistance from the console partner in terms of marketing the game (less time/money required for the developer and possibly increased visibility).
  • Exclusivity may save developers time in supporting the game in multiple formats (this may not be a "deal", but is a consideration that could lead to a developer to launch a game exclusively).
  • Related: not needing to develop for multiple hardware stacks for which may be partially incompatible.
  • Some developer programmes are more accessible than others (a firm might get accepted to ID@Xbox but be told "not yet" by Sony and Nintendo).

In the end, the benefits are often driven by cash.

The benefits are often money related.

From a console manufacturer perspective, an exclusive title means their console becomes more attractive if a high profile game is only available to them. Thus to them it is a marketing opportunity (and probably comes from their marketing budget). It may also be an opportunity to sell specific hardware (example Playstation VR).

For the development team, it may limit their sales, however there may be some benefits out of the deal that outweighs the lost sales.

These may be:

  • Access to development resources that otherwise may be hard to get (reducing time and saving money).
  • Access to prototype hardware that may otherwise be hard to get (opportunity to break into an emerging market - launch titles may achieve greater sales due to limited competition).
  • Console manufacturer may pay for the exclusivity up front (reduces the risk of a game since part of the budget is covered).
  • Assistance from the console partner in terms of marketing the game (less time/money required for the developer and possibly increased visibility).
  • Exclusivity may save developers time in supporting the game in multiple formats (this may not be a "deal", but is a consideration that could lead to a developer to launch a game exclusively).

In the end, the benefits are often driven by cash.

The benefits are often money related.

From a console manufacturer perspective, an exclusive title means their console becomes more attractive if a high profile game is only available to them. Thus to them it is a marketing opportunity (and probably comes from their marketing budget). It may also be an opportunity to sell specific hardware (example Playstation VR).

For the development team, it may limit their sales, however there may be some benefits out of the deal that outweighs the lost sales.

These may be:

  • Access to development resources that otherwise may be hard to get (reducing time and saving money). 
  • Access to prototype hardware that may otherwise be hard to get (opportunity to break into an emerging market - launch titles may achieve greater sales due to limited competition).
  • Console manufacturer may pay for the exclusivity up front (reduces the risk of a game since part of the budget is covered).
  • Assistance from the console partner in terms of marketing the game (less time/money required for the developer and possibly increased visibility).
  • Exclusivity may save developers time in supporting the game in multiple formats (this may not be a "deal", but is a consideration that could lead to a developer to launch a game exclusively).
  • Related: not needing to develop for multiple hardware stacks for which may be partially incompatible.
  • Some developer programmes are more accessible than others (a firm might get accepted to ID@Xbox but be told "not yet" by Sony and Nintendo).

In the end, the benefits are often driven by cash.

2 Re-wording for increased readability and corrected spelling/grammar
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The benefits are often money related. 

From a console manufactorermanufacturer perspective, an exclusive title means their console becomes more attractive if a high profile game is only available to them. Thus to them it is a marketing opportunity (and probably comes from their marketing budget). It may also be an opportunity to sell specific hardware (example Playstation VR).

For the development team, it may limit their sales so they must get, however there may be some benefit outbenefits out of the deal that outweightsoutweighs the lost sales.

These may be:

  • Access to development resources that otherwise may be hard to get (reducing time=savestime and saving money).
  • Access to prototype hardware that may otherwise be hard to get (opportunity to break into a markter before thean emerging market has become mainstream- a launch titletitles may be sold betterachieve greater sales due to limited compititioncompetition).
  • Console manufactorermanufacturer may pay for the exclusivity up front (reduce risks,reduces the risk of a game since part of the budget is covered).
  • AssistsAssistance from the console partner in terms of marketing the game (less time/money required for the developer and possibly increased visibility).
  • Could be a consideration that exclusivity saves the developer someExclusivity may save developers time in supporting the game in multiple different formats- this (this may not be a "deal", but is a consideration that could lead to a developer deciding themselves that they would only create theto launch a game for platform Xexclusively).

In the end, the benefits are often driven by cash.

The benefits are often money related. From a console manufactorer perspective, an exclusive title means their console becomes more attractive if a high profile game is only available to them. Thus to them it is a marketing opportunity (and probably comes from their marketing budget). It may also be an opportunity to sell specific hardware (example Playstation VR).

For the development team, it may limit their sales so they must get some benefit out of the deal that outweights the lost sales.

These may be:

  • Access to development resources that otherwise may be hard to get (reducing time=saves money).
  • Access to prototype hardware that may otherwise be hard to get (opportunity to break into a markter before the market has become mainstream- a launch title may be sold better due to limited compitition).
  • Console manufactorer may pay for the exclusivity up front (reduce risks, since part of the budget is covered).
  • Assists from the console partner in marketing the game (less time/money required for the developer).
  • Could be a consideration that exclusivity saves the developer some time in supporting multiple different formats- this may not be a "deal" but could lead to a developer deciding themselves that they would only create the game for platform X.

In the end, the benefits are often driven by cash.

The benefits are often money related. 

From a console manufacturer perspective, an exclusive title means their console becomes more attractive if a high profile game is only available to them. Thus to them it is a marketing opportunity (and probably comes from their marketing budget). It may also be an opportunity to sell specific hardware (example Playstation VR).

For the development team, it may limit their sales, however there may be some benefits out of the deal that outweighs the lost sales.

These may be:

  • Access to development resources that otherwise may be hard to get (reducing time and saving money).
  • Access to prototype hardware that may otherwise be hard to get (opportunity to break into an emerging market - launch titles may achieve greater sales due to limited competition).
  • Console manufacturer may pay for the exclusivity up front (reduces the risk of a game since part of the budget is covered).
  • Assistance from the console partner in terms of marketing the game (less time/money required for the developer and possibly increased visibility).
  • Exclusivity may save developers time in supporting the game in multiple formats (this may not be a "deal", but is a consideration that could lead to a developer to launch a game exclusively).

In the end, the benefits are often driven by cash.

1
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The benefits are often money related. From a console manufactorer perspective, an exclusive title means their console becomes more attractive if a high profile game is only available to them. Thus to them it is a marketing opportunity (and probably comes from their marketing budget). It may also be an opportunity to sell specific hardware (example Playstation VR).

For the development team, it may limit their sales so they must get some benefit out of the deal that outweights the lost sales.

These may be:

  • Access to development resources that otherwise may be hard to get (reducing time=saves money).
  • Access to prototype hardware that may otherwise be hard to get (opportunity to break into a markter before the market has become mainstream- a launch title may be sold better due to limited compitition).
  • Console manufactorer may pay for the exclusivity up front (reduce risks, since part of the budget is covered).
  • Assists from the console partner in marketing the game (less time/money required for the developer).
  • Could be a consideration that exclusivity saves the developer some time in supporting multiple different formats- this may not be a "deal" but could lead to a developer deciding themselves that they would only create the game for platform X.

In the end, the benefits are often driven by cash.