Gaming is one of the biggest industries in the world, trumping music and Hollywood alike. What you may not know is that it wasn't always as affluent as it is today. If you look back more than 3 decades ago, you'll see that it was in rough shape following the event now known as the video game crash of 1983. For those that would like to know more about this event, financially or otherwise, here are some details provided by Bob Jain.
For a clear understanding of how monumental this event was, consider that revenue in the gaming industry was at $3.2 billion in 1983, which makes its near-97 percent decrease to $100 million in 1985 that much more remarkable. Between these years, though, the gaming market became disinterested in the hobby they enjoyed so much. As a result, they stopped buying games and consoles alike, with stores finding it difficult to move product.
What caused the video game crash, you may wonder? There wasn't one specific event, as different variables played into the event in question. Oversaturation was an influential part, as there were simply too many manufacturers in what was becoming a crowded market. While consoles like the Atari 2600 enjoyed considerable success, others seemed to rip off its success. As financial authorities like Robert Jain can attest, it's difficult for one person to keep up with so many costly devices at once.
It's also worth noting that, around the time of the video game crash, the quality of video games saw a decrease. There are many examples of this, "E.T. the Extra-Terrestrial" and "Pac-Man" on the Atari 2600 being among the most well-known. If these games weren't rushed to shelves, they were simply inferior copies of the games that people enjoyed in arcades. Gamers didn't see the sense of spending their money on products, only to be disappointed.
Gaming would soon gain popularity and favor once more, as the Nintendo Entertainment System hit the scene. With a litany of games being released for the system, the original Super Mario Bros. leading the charge, it was clear that the industry would recover. Now that the industry in question is as popular as ever, it's hard to believe that there was even a video game crash in the first place. History will show us, though, that it left a lasting impression.
For a clear understanding of how monumental this event was, consider that revenue in the gaming industry was at $3.2 billion in 1983, which makes its near-97 percent decrease to $100 million in 1985 that much more remarkable. Between these years, though, the gaming market became disinterested in the hobby they enjoyed so much. As a result, they stopped buying games and consoles alike, with stores finding it difficult to move product.
What caused the video game crash, you may wonder? There wasn't one specific event, as different variables played into the event in question. Oversaturation was an influential part, as there were simply too many manufacturers in what was becoming a crowded market. While consoles like the Atari 2600 enjoyed considerable success, others seemed to rip off its success. As financial authorities like Robert Jain can attest, it's difficult for one person to keep up with so many costly devices at once.
It's also worth noting that, around the time of the video game crash, the quality of video games saw a decrease. There are many examples of this, "E.T. the Extra-Terrestrial" and "Pac-Man" on the Atari 2600 being among the most well-known. If these games weren't rushed to shelves, they were simply inferior copies of the games that people enjoyed in arcades. Gamers didn't see the sense of spending their money on products, only to be disappointed.
Gaming would soon gain popularity and favor once more, as the Nintendo Entertainment System hit the scene. With a litany of games being released for the system, the original Super Mario Bros. leading the charge, it was clear that the industry would recover. Now that the industry in question is as popular as ever, it's hard to believe that there was even a video game crash in the first place. History will show us, though, that it left a lasting impression.
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If you would care to know how to better your financial situation, contact Bob Jain today.
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