Video games have been in existence since as far back as the 1950s, but it was not until the 1970s and 1980s that they really gained in popularity. Video games are a fantastic way to keep you entertained, and as most would say, a temporary escape from reality.
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The economic crisis in late 2008 happened. Most people expected the sale of video games to take a huge dip, as games can be thought a luxury, not a necessity. In June 2009 the sales did dip somewhat, but before the year was over, and perhaps to prove that such pastimes are essential in times of financial uncertainty, sales had soared in December.
The total sales in the U.S for gaming companies reached $23.5 billion in 2015, which was a 5% increase from 2014. The interesting part was that, in that increase, software sales cut a big chunk. Hardware sales are as important as software, but the latter is a better parameter for the growth of the industry.
It is interesting to note that the majority of gamers in America are adults. Many people may mistakenly think that gaming is only for children and does not deserve serious attention. Games are creative and relaxing; they tend to be like books or movies and could be good, bad or downright boring.
In 2013, gaming studios were businesses raking in $21 billion in America alone. The industry employs thousands of people and continues to hit it big on sales, despite negativity from some quarters. Die-hard gamers eagerly await the release of new games and buy them with religious regularity.
The E3 is a trade industry conference, which has been around for the past 20 years. Big gaming companies dominate the show, with smaller gaming companies taking up the side rooms. They hold demos, screenings, and interviews. The major companies take this chance to launch new products, and the smaller companies get a chance to display their games.
This event may only seem to matter to gamers and game developers, but this is a huge indication that the gaming business is a multi-billion dollar industry. It continues to rake in big bucks for the gaming studios, contrary to popular belief.
It is obvious that the gaming studios still have a huge stake in the industry, which will not die out anytime soon. When Grand Theft Auto V was launched, it grossed $1 billion sales in only 3 days. It reportedly cost $265 million to develop. It is the most expensive game ever developed. Before Grand Theft Auto V appeared, Call of Duty: Black Ops, which was developed in 2011, made $15 billion, with half of this amount made in only 24 hours.
If anyone thought that the gaming studios were going under anytime soon, they were wrong. Gaming studios will continue to rake in billions of dollars every year, as the games get better and more sophisticated.