You don't necessarily need a PS5 and Xbox Series X to play the hottest upcoming games this holiday season. At least for the time being, mega-publisher Square Enix has declared that it will release games on both current and next-generation consoles.

Square Enix mentioned its plans to develop games for the PS5 and Xbox Series X during a Q&A at a recent investor presentation (via Windows Central).

"For the time being, we plan to release new titles on both current and next-generation consoles because next-generation consoles have backward compatibility," said Square Enix President and CEO Yosuke Matsuda during the Q&A. "That's why we are planning to release games exclusively for next-generation consoles. So it will be a little while before we release titles exclusively for next-generation consoles."

Square Enix's plans are in line with how other developers are approaching the PS5 and Xbox Series X generation.

Square Enix's third-person shooter "Outriders" has already been confirmed for both generations, and Ubisoft is following a similar Ubisoft seems to be following a similar strategy with upcoming titles such as "Gods and Monsters" and "Watch Dogs: Legion. We also know that this fall's highly anticipated "Halo: Infinite" will be released on both Xbox One and Xbox Series X.

What is unclear is whether Square Enix will support Xbox's newly announced "Smart Delivery" feature, which will allow users to purchase Xbox One games and automatically enjoy an enhanced Xbox Series X version at no additional cost. This feature is currently confirmed for all upcoming Xbox Game Studios titles and CD Projekt Red's Cyberpunk 2077.

Square Enix's next big releases are "Final Fantasy VIII Remake," due April 10, and "Marvel's Avengers," due September 4. Both games are currently scheduled to be released only on current consoles.

It is already known that the PS5 and Xbox Series X will be backward compatible with current-gen console games, but whether some publishers will release distinct next-gen versions of certain titles that will need to be purchased to enjoy enhanced performance and features is remains to be seen.

While the PS5 and Xbox Series X will offer killer features such as ray tracing, near-instantaneous SSD load times, and support for 8K visuals, it appears that the PS4 and Xbox One will be sufficient for at least the next year or so. And with the current generation of gaming consoles cheaper than ever, this is not a bad thing.