Former Nintendo of America president Reggie Fils-Aimé says the game industry is heading for an uptick after declines following the pandemic.
The video game industry is on the cusp of a turnaround after a tumultuous few years that saw sales come back down to earth from the lofty heights they reached during the early days of the pandemic. And things should only get better in 2025, as Nintendo The video game market experienced a boom during the beginning of the pandemic, as consumers around the world retreated to their homes with little to do but play video games and stream shows and movies.
But that growth declined quickly in the following years. Mobile gaming revenue grew just 15% in 2021 before declining 3.3% in 2022 and 3.7% in 2023. PC and Mac game sales climbed again in 2021 by 8.7% but fell 1.4% in 2022, though the segment experienced a slight uptick of 2.1% in 2023. And after rocketing in 2020, console game spending stalled out in 2021, with growth sitting at 0.7%, before revenue declined 3.4% in 2022. It did, however, return to growth in 2023.) Xbox Series X and Series S consoles. But system sales struggled due to the supply chain crisis at the time, hindering growth.“You had significant investment leading into the launch of new machines by Microsoft and by Sony. You had essentially free money,” Fils-Aimé explained.
Those declines also led to industrywide mass layoffs, with thousands of workers losing their jobs as companies ranging from Microsoft and Sony to Riot and Unity As supreme as the Supreme Court is, and despite what you learned in school, it doesn't have the last word.
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