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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."
For the first time in 15 years, the best-selling video game in the US was not a game from Activision or Rockstar Games. However, due to the NPD being unable to track Nintendo digital sales data, only physical sales are counted for The Legend of Zelda: Tears of the Kingdom . [ 44 ]
Statista, a global data and business intelligence platform founded in Germany in 2007, said in its latest report the global video games market is projected to generate $282.3 billion in 2024.
The layoffs hitting the gaming industry are largely the result of a handful of trends coalescing. The chief overarching issue comes down to publishers and developers overspending throughout 2021 ...
Stocks ended 2024 near record highs. Over the past 12 months, the Nasdaq ... Below is a collection of 10 charts that tell the story of market and economic resiliency in 2024 — with all eyes set ...
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."
This was also nearly twice as much as the $3.8 billion generated by the home video game industry that year; both the arcade and home video game markets combined in 1982 total of $11.8 billion [29] (equivalent to $38.4 billion in 2024). The arcade video game industry would continue to generate an annual revenue of $5 billion in quarters through ...
An increase at this point, near the planned end of the eighth generation of video game consoles, was unusual and was attributed to the pandemic. [119] [120] By July 2020, NPD Group reported that the total sales of video game hardware and software within the United States in the first six months of 2020 reached US$6.6 billion, the highest since ...