Unreal Engine 4 & 5 timeline
Unreal Engine 4.25 already supports next-generation console platforms from Sony and Microsoft, and Epic is working closely with console manufacturers and dozens of game developers and publishers using Unreal Engine 4 to build next-gen games.
Unreal Engine 5 will be available in preview in early 2021, supporting next-generation consoles, current-generation consoles, PC, Mac, iOS, and Android.
We’re designing for forward compatibility, so you can get started with next-gen development now in UE4 and move your projects to UE5 when ready.
We will release Fortnite, built with UE4, on next-gen consoles at launch and, in keeping with our commitment to prove out industry-leading features through internal production, migrate the game to UE5 in mid-2021.
Unreal Engine royalties waived on first $1 million in game revenue
Starting today, you can download and use Unreal Engine to build games for free as you always have, except now royalties are waived on your first $1 million in gross revenue. The new Unreal Engine license terms, which are retroactive to January 1, 2020, give game developers an unprecedented advantage over other engine license models. For more information.