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1. Optimization: The average exclusive game probably looks better than the average multiplat game.

2. Identity: When a consle has more exclusive games, that increases the popularity for said console. For example: Pretend I own console A and B. And my friends only owns console B. Console A has a few great exclusives that my friends and I would love to play together, but they only own console B and won't buy console A unless it gets a few more exclusives. When those few exclusives come, then my friends will finally buy console A and we'll play the games we missed out on.