Everyone who’s anyone knows were in a recession, something affecting nearly everything in the economy, but how about the games industry, it’s hard to tell. Many CEO’s have said that the industry could pass through the crisis virtually untouched. According to sales figures of December 2007, video games appeared to stay afloat while other industries retail figures fell.
I feel that whatever the economic state, entertainment like film and games will stay somewhat level due to their intentions and target audience, children and teens have to worry very little about the recession and will continue spending as long as there are new exciting things being released. At the end of the day people are still going to want to be entertained, yes they may not buy as many but the design of the industry normally works around people buying things they have been waiting and wanting for a while.
As well as all this, game hype and quality is on the rise, more money is going into advertising and developing, making more attractive games. Games like CoD have even received red carpet premieres so the industry must be doing something right.
Well if games are more or less unaffected by the recession what do they have to worry about? Id have to stay staying on top of originality and living up to peoples expectations are the main things, the industry is growing so fast its making giant leaps in technology with every sequel of a franchise. Game developers must stay up to date with this technology or they could lose there sales to a rival, and losing fans is a big deal. Because they are advancing so much, the consoles they release are going to go out of date a lot faster than before, this could be a problem when put with the financial status of the market, if they go and make better and better games for better and better consoles they could find themselves discouraging people to stay on top of new games and take their time with older games for the consoles they own.