The Benefits of (True) Episodic Content
Some of the benefits to this model, according to Sanchez, are actually quite similar to those we've seen given by Valve: gaining more frequent customer feedback, allowing for a more iterative creative process, and avoiding pitfalls of expensive retail publishing. This episodic model allows developers to potentially take more advantage of the enormous PC install base than is done by the waning retail PC game industry, by offering low-cost games in a convenient manner with less of a time commitment necessary per product--but still offering a fuller entertainment experience than a casual puzzle game.
Sanchez also presents one potential idea that has not been widely discussed, the concept of a pilot game episode. While some referred to Telltale's first Sam & Max episode as a "pilot," plans to construct an entire season were already well underway by the time of that game's release. The pilot concept presented in Sanchez' article is more similar to the current game industry practice of prototyping, but with a much different application. Rather than having to refuse or greenlight an entire large-scale game based on an initial presentation, publishers could take a chance on riskier projects by, for example, funding only half a season of a pitched game series; if those episodes are successful, the publisher could fund more development.
It remains to be seen whether the television-like concept currently being employed by Telltale and championed by GameTap is feasible for other developers. That said, indications seem to be that the project has been financially successful so far, and the company is holding to its aggressive development schedule while Sam & Max has managed to garner strong critical reception and gamer approval.
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Mentioning a "pilot" reminds me of "One Must Fall", the sort of demo robot fighter that paved the way for "One Must Fall 2097" (possibly the best fighting game ever).