When Sarah Bond took the helm as president of Xbox in 2023, she inherited more than a global gaming business. She inherited a 25-year-old identity that’s beloved, defended, and scrutinized by one of the most vocal consumer groups in the world.

“People who play Xbox love Xbox,” Bond tells Fortune. “It has a ton of meaning for them and so changing it is hard.”

That tension between a fiercely loyal base and an industry undergoing rapid evolution is shaping both Bond’s leadership approach and Xbox’s next chapter. As the company shifts from a console-centric legacy to a broader service-driven ecosystem, Bond is betting that meeting players where they are, rather than where tradition dictates they should be, will drive its future growth.

She describes the Xbox community with a kind of reverence: deeply invested, quick to celebrate, quick to criticize. That passion, she says, isn’t a liability but a source of insight and data that helps shape what Xbox, part of Microsoft’s $21 billion-revenue gaming division, builds next.

Bond says her team starts with the understanding that players’ passion stems from their love of the brand, and that the only adequate response is to listen closely and meaningfully incorporate their feedback into the work.

But listening alone isn’t enough. For Bond, the priority is pairing what players say with what they actually do.

“We listen really intently to our players across all channels,” she says. “We also marry that with how players are actually behaving…What choices are you making, what games are you playing, how are you investing, what are your hours of play? And that really helps direct what we’re doing.”

That combination of sentiment and behavior has already reshaped key parts of the Xbox experience.

Bond points to Xbox Play Anywhere (XPA) as a blueprint for how the company responds to shifting player habits.

“When we actually looked at the player behavior of people who were playing XPA games, we saw they were playing 20% more,” she says. Those players also spent more money in games and were more likely to try titles that supported the flexible play model. “Based off of that, we started to invest more in XPA, amplifying the catalog, bringing them more things.”

Handheld devices told a similar story. Windows-based handheld gaming had been around for years, but player frustration with the experience was consistent and clear.

“We were looking at player feedback, and they said, ‘We really wish there was an improvement on the experience of Windows on these handhelds,’” Bond recalls. That became the spark for a new investment push to work more closely with Windows and deliver a far better experience for players.

In Bond’s world, no single business line—console, PC, cloud, subscription, or studio acquisition—drives strategy alone. The deciding factor is where player energy naturally flows.

“What do we see players gravitating toward?” she says. “What are the features that they most deeply value? Making sure we’re balancing delivering what’s now and leaning into those new features and capabilities.”

Game Pass emerged from that balancing act. Before it launched, players had only two options: buy a game outright or rely on free-to-play titles. But the community wanted a dependable library they could all access and explore together. Xbox built Game Pass to meet that need by providing a consistent, curated collection available to jump into at any time, says Bond.
This four-part formula of testing ideas, watching for user signals, investing, then recalibrating has become Xbox’s operating rhythm, she adds. Yet as Xbox leans further into its “play anywhere” identity, one question looms: Where does hardware fit in?

Bond’s response is clear. “Hardware is absolutely core to everything that we do at Xbox, because we know that our most valuable players… love the hardware experience,” she says. That belief drives the development of Xbox’s next-generation console, which she describes as a powerful device built for greater player flexibility. The console remains the foundation of the Xbox experience, yet the future is hybrid, where players can carry their library, community, identity, and store across PC, console, and cloud.

This balance between honoring the past and building for the future defines Bond’s leadership challenge. She faces the same dilemma many legacy brands face: how to innovate boldly without alienating a core audience that deeply identifies with what the brand has always been. Her approach combines attentive listening with operational rigor. She often frames the work as a constant examination of the fundamentals, from player activity to purchasing habits to subscription trends.

In Bond’s view, the future of Xbox will be shaped by both numbers and voices, by the feedback players offer and the choices they make across devices. Bonds stresses that she understands why change can feel jarring for a community that is invested, but she sees promise in gamers’ intensity. Moreover, Bond says, she views their commitment not as an obstacle but as a signal that will guide Xbox into its next 25 years.

How Xbox is turning its loudest fans into a roadmap for its biggest transformation yet