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Some media outlets compared the 2023-2024 layoffs to the video game crash of 1983, when the US video game market collapsed due to an oversaturation of poorly made, low-quality games, causing the video game industry to enter a recession for two years. This has sparked discussions about a potential "second video game crash."
The video game crash of 1983 (known in Japan as the Atari shock) [1] was a large-scale recession in the video game industry that occurred from 1983 to 1985 in the United States. The crash was attributed to several factors, including market saturation in the number of video game consoles and available games, many of which were of poor quality .
A major shakeout of the North American video game industry ("the crash of 1983") begins. By 1986, total video games sales will decrease from US$3.2 billion to US$0.1 billion. [43] December - Sente Technologies, a division of Pizza Time Theater, launches and demonstrates its first title Snake Pit.
March 1, 2024 at 12:51 PM. Thousands of video game industry workers are out of work following a series of mass layoffs at game developers and publishers over the past three months.
It would just be nice if the AAA industry's creativity would grow alongside its market cap. For all the latest video game news, stay tuned to engadget.com and subscribe to the Engadget YouTube ...
The Game Awards, honoring the best video games of the year, was held at the Peacock Theater in Los Angeles. [64] 19 Sony and Kadokawa Corporation, the parent company of FromSoftware, Spike Chunsoft and Acquire, agreed to form a strategic business alliance, with Sony becoming the largest shareholder in Kadokawa. [65]
The games industry has struggled in 2024, but a new Nintendo console and 'Grand Theft Auto VI' could turn things around in 2025. ... But according to Circana video game industry adviser Mat ...
The highest selling arcade game of the year is F-1. 1977 – The Atari Video Computer System (later the Atari 2600) is released as the first widely popular home video game console. [5] 1978 – Space Invaders is released, popularizing the medium and beginning the golden age of arcade video games. [6]