In the 2010s, the video game industry saw an ENORMOUS boom, with annual revenues jumping from 80 billion dollars to TWO HUNDRED billion over that decade, according to a report by investment research group Epyllion.
But in recent years, that exponential growth hit a plateau.
“Games were so successful both prior to & during 2020 & 2021, that they set kind of impossible standards for 2023 & 2024… And when the uptick flattened, it was seen as a tremendous failure.”
That’s video game writer and creator Alanah Pearce from her recent video titled, “The games industry is screwed.”
While the industry remains profitable, volatility has shaken investors and large game studios – and created major instability for workers.
Last week, EA, which has a local footprint in Kirkland, announced a new round of layoffs – affecting hundreds of employees including workers at Respawn, the studio behind games like Apex Legends and the Star Wars: Jedi series.
Things are changing for consumers, too: Microsoft recently announced that it’s raising prices across the entire XBOX platform, … hot on the heels of Nintendo announcing price hikes for its Switch 2 games.
The gaming industry appears to be at a crossroads.
GUEST: Jason Schreier, author & reporter at Bloomberg
RELATED LINKS:
- The games industry is screwed.
- Electronic Arts Lays Off Hundreds, Cancels ‘Titanfall’ Game - Bloomberg
- Apex Legends and Star Wars: Jedi Dev Respawn Cancels Another Incubation Project, Around 100 Employees Impacted - IGN
- Players Have Too Many Options to Spend $80 on a Video Game - Bloomberg
- PRESENTATION: The State of Video Gaming in 2025
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