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It wasn't too long ago that the "video-game" industry was deemed "recession proof"

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  • It wasn't too long ago that the "video-game" industry was deemed "recession proof"

    Last year around Christmas, most people thought the recession would be over rather quickly and didn't mind spending that extra $50 on a game and $250 on a console.

    http://www.pbs.org/nbr/site/onair/transcripts/081224d/

    Wednesday, December 24, 2008

    SUZANNE PRATT: With shell-shocked consumers holding tight to their cash, many retailers are likely to ring up only bleak holiday sales this year. But as Lucy Craft reports from Tokyo, there's one gift-related industry expecting 20 percent annual sales growth.

    LUCY CRAFT, NIGHTLY BUSINESS REPORT CORRESPONDENT: Financial disasters or no, it's still fun and games as usual for the $35 billion video games industry. 2008 is expected to be another banner year for the business, as it rolls out long-awaited sequels to blockbusters like Final Fantasy and Monster Hunter. While other Japanese companies like cars or electronics are sweating over a slowing world economy, here in the video game industry, they're unfazed. In fact they say, the video game business is immune to recession. The industry isn't merely shrugging off the global slowdown. Chris Kramer, spokesman for Japanese software maker Capcom, says a sour economy is actually good for business.

    CHRIS KRAMER: What we were finding was that people are being more cautious and more careful with their entertainment dollars. Instead of going out for a single evening of entertainment, what they'll do is they'll, they actually are going out. I'll take my $50 and I'll buy a game, because I know I'm going to get 40 hours, 100 hours of entertainment out of this game. People were actually buying more games, because they were looking at it as a better investment for their entertainment money.....
    and today?

    http://news.cnet.com/8301-13506_3-10350615-17.html

    September 11, 2009 8:19 AM PDT

    Video game industry takes another big hit in August
    by Don Reisinger

    Industrywide revenue in August slipped 16 percent year over year, market researcher NPD Group reported Thursday. And total year-to-date sales were down 14 percent.

    Neither software nor hardware could stop the industry's slide. Hardware sales came in at $297.6 million for the month--down 25 percent compared with August 2008. Video game sales brought in $470.32 million--a 15 percent hit, year over year.

    [..]

    NPD analyst Anita Frazier was quick to point out in her analysis of August's NPD figures that the industry saw "its sixth consecutive month-over-month decline, and while improved over the last several months, it's still a notable decline." Worst of all, the industry is so far behind 2008 figures that September through December sales would need to "be up 14 percent in aggregate for 2009 to come in flat in comparison to 2008 sales," Frazier said.

    Frazier did note that Microsoft's and Sony's decisions to cut the prices on their hardware made an "impact on units sales."

  • #2
    Re: It wasn't too long ago that the "video-game" industry was deemed "recession proof"

    Somebody, anybody, explain to me what would be the impact on the future of the world if as of midnight tonight, all video gaming stopped, no longer worked, no longer would be produced?
    Jim 69 y/o

    "...Texans...the lowest form of white man there is." Robert Duvall, as Al Sieber, in "Geronimo." (see "Location" for examples.)

    Dedicated to the idea that all people deserve a chance for a healthy productive life. B&M Gates Fdn.

    Good judgement comes from experience; experience comes from bad judgement. Unknown.

    Comment


    • #3
      Re: It wasn't too long ago that the "video-game" industry was deemed "recession proof"

      People would keep their computers a lot longer...

      Comment


      • #4
        Re: It wasn't too long ago that the "video-game" industry was deemed "recession proof"

        Jim, I suspect there would be a reduction in the number of "diagnoses" of ADHD.

        Comment


        • #5
          Re: It wasn't too long ago that the "video-game" industry was deemed "recession proof"

          Originally posted by Jim Nickerson View Post
          Somebody, anybody, explain to me what would be the impact on the future of the world if as of midnight tonight, all video gaming stopped, no longer worked, no longer would be produced?
          People would look at their screen, mystified, rub their eyes like a kid waking up in the morning, look at the world around them, confirm how badly it sux, turn on the TV and stare at it. As they wait for the next reality TV show to come on, they shed a tear for the friends they lost online and when the show comes on, they start to pick new friends. Around the water cooler at work the next morning the discussion shifts seamlessly to the character du jour from the previous night's show. They are amazed how the games all quit at once, and they figure that the cable news will tell them why when it's their time to know.

          It would be nice to think that they might figure out that the world sux and they need to do something about it but I ran out of that smoking substance long long ago. Just imagine absorbing all the recent financial news in a short while. It is just too much and numbing your mind on cable TV is just so much more relaxing.

          (age 60)

          Last edited by ggirod; 09-12-09, 01:44 PM. Reason: adding age :-)

          Comment


          • #6
            Re: It wasn't too long ago that the "video-game" industry was deemed "recession proof"

            Originally posted by Jim Nickerson View Post
            Somebody, anybody, explain to me what would be the impact on the future of the world if as of midnight tonight, all video gaming stopped, no longer worked, no longer would be produced?
            My basic answer is there would be no impact of significance on the world's future.

            Immediately, some game creators would have to find new employment. Companies that make the equipment would have to find something else to make or close. Retailers that sell the gear would see a drop in revenue and perhaps profits. Contests to determine gaming champions would stop.

            So the biggest important effect I imagine would be an increase in unemployment and a bit more of buildings and factories unused.
            Jim 69 y/o

            "...Texans...the lowest form of white man there is." Robert Duvall, as Al Sieber, in "Geronimo." (see "Location" for examples.)

            Dedicated to the idea that all people deserve a chance for a healthy productive life. B&M Gates Fdn.

            Good judgement comes from experience; experience comes from bad judgement. Unknown.

            Comment


            • #7
              Re: It wasn't too long ago that the "video-game" industry was deemed "recession proof"

              I recently bought a couple of games because they were dirt cheap, you can buy 2-4 year old games from well known developers for 2,50 €.

              Do you need to buy the newest game for 40 € if you can buy really great games with pretty good graphic engines for a 1/10th or less ?

              It's even better if don't have the newest hardware.

              Comment


              • #8
                Re: It wasn't too long ago that the "video-game" industry was deemed "recession proof"

                Originally posted by Jim Nickerson View Post
                My basic answer is there would be no impact of significance on the world's future.

                Immediately, some game creators would have to find new employment. Companies that make the equipment would have to find something else to make or close. Retailers that sell the gear would see a drop in revenue and perhaps profits. Contests to determine gaming champions would stop.

                So the biggest important effect I imagine would be an increase in unemployment and a bit more of buildings and factories unused.
                Um, well, we really don't want millions of former gamers sitting around with no gainful employment to keep them occupied. The lads will get up to some mischief for sure, eh? Social unrest and all that...

                Comment


                • #9
                  Re: It wasn't too long ago that the "video-game" industry was deemed "recession proof"

                  Originally posted by Jim Nickerson View Post
                  Somebody, anybody, explain to me what would be the impact on the future of the world if as of midnight tonight, all video gaming stopped, no longer worked, no longer would be produced?
                  You're a paid agent for the Parker Brothers, aren't you?

                  Comment


                  • #10
                    Re: It wasn't too long ago that the "video-game" industry was deemed "recession proof"

                    Originally posted by Jim Nickerson View Post
                    My basic answer is there would be no impact of significance on the world's future.

                    Immediately, some game creators would have to find new employment. Companies that make the equipment would have to find something else to make or close. Retailers that sell the gear would see a drop in revenue and perhaps profits. Contests to determine gaming champions would stop.

                    So the biggest important effect I imagine would be an increase in unemployment and a bit more of buildings and factories unused.
                    What would happen if any other entertainment industry suddenly ceased to exist? What if every single sports stadium was razed? The vast majority of TV channels went off the air? Most radio stations went silent? Most books spontaneously combusted? All theaters burned down? All musical instruments were trashed? Forty percent of the Internet disconnected?

                    I guess I don't understand the point of your point. It's an entertainment industry. That's the point.

                    Comment


                    • #11
                      Re: It wasn't too long ago that the "video-game" industry was deemed "recession proof"

                      I grew up with ColecoVision and Nintendo (child of the 80s).

                      I am also a vintage video consoles collector (ex: Vectrex, Atari's heavy sixer and of course the Neo Geo AES)

                      Interesting fact: Did you know that CoLeCo stands for COlorado LEather COmpany?...yes a leather maker producing a video console! Good times. Good times.



                      Now to the subject at hand; Is cable TV much better than video games? Certainly not in my book. Video Games are simply a much more effective medium than TV.

                      The fact that industry is still in good shape despite the recession is a testament to the awesome value proposition of the medium; movies do not even come close as most video games will last on average 10 to 15 hours to complete and some will take upwards of 40 hours.

                      Now I would agree that books will always remain the ultimate medium for learning, but for entertainment (especially given the fact that the industry embraced the internet early on), welcome to the Nintendo era.

                      Modern Video Games.

                      Comment


                      • #12
                        Re: It wasn't too long ago that the "video-game" industry was deemed "recession proof"

                        Originally posted by Ghent12 View Post
                        What would happen if any other entertainment industry suddenly ceased to exist? What if every single sports stadium was razed? The vast majority of TV channels went off the air? Most radio stations went silent? Most books spontaneously combusted? All theaters burned down? All musical instruments were trashed? Forty percent of the Internet disconnected?

                        I guess I don't understand the point of your point. It's an entertainment industry. That's the point.
                        1. raze sports stadiums--what happens? overpaid testosteroned gamesters have to seek productive work and more would have gotten greater benefit from at least being around colleges and universities. Franchise owners would have to find other ways to strut their wealths. Tax payers take a hit for building the pieces of shit. Tailgaters have to get some other sort of lives.

                        2. Depending upon what comprised the majority of TV channels, perhaps nothing ill would occur.

                        3. Radio stations. Limbaugh would have to get a job. Musicians would get paid less. Newspaper advertising might pick up.

                        4. Not all books, magazines, journals are published for the sake of entertainment. Many written publications comprise a long standing method of dissemination of knowledge. Guys like Greenspan, Clinton, Clinton would either have to get another job or live off their government pensions and at a more moderate level of existence. Even fictional books often offer the opportunity to enrich people's vocabularies.

                        5. If all theaters burned down, then probably there would be fewer bad movies produced, no one would feel ripped off by eating popcorn that did not out of the microwave, and people's diets would contain less sugar.

                        Loss of all muscial instruments would be unfortunate, as would any loss of the art of writing good fiction and portrayal of fictional and real life drama by actors, or even some comedies. No other art form beside movies has ever made my cry, but perhaps there is some deficiency in my DNA.

                        Destruction of the internet to any degree that I use it to my estimate would be one huge step backwards for developed civilization, not from the entertainment perspective, but from the accessibility of information perspective, BTW I don't read iTulip for entertainment purposes; it is mainly an outlet for my agressions.

                        My point and opinion about gaming is that it is a pure waste of time, and without it people might begin to try to find better uses of their times.
                        Jim 69 y/o

                        "...Texans...the lowest form of white man there is." Robert Duvall, as Al Sieber, in "Geronimo." (see "Location" for examples.)

                        Dedicated to the idea that all people deserve a chance for a healthy productive life. B&M Gates Fdn.

                        Good judgement comes from experience; experience comes from bad judgement. Unknown.

                        Comment


                        • #13
                          Re: It wasn't too long ago that the "video-game" industry was deemed "recession proof"

                          Originally posted by LargoWinch View Post
                          I grew up with ColecoVision and Nintendo (child of the 80s).

                          I am also a vintage video consoles collector (ex: Vectrex, Atari's heavy sixer and of course the Neo Geo AES)

                          Interesting fact: Did you know that CoLeCo stands for COlorado LEather COmpany?...yes a leather maker producing a video console! Good times. Good times.


                          Now to the subject at hand; Is cable TV much better than video games? Certainly not in my book. Video Games are simply a much more effective medium than TV.

                          The fact that industry is still in good shape despite the recession is a testament to the awesome value proposition of the medium; movies do not even come close as most video games will last on average 10 to 15 hours to complete and some will take upwards of 40 hours.

                          Now I would agree that books will always remain the ultimate medium for learning, but for entertainment (especially given the fact that the industry embraced the internet early on), welcome to the Nintendo era.

                          Modern Video Games.

                          &nbsp
                          &nbsp

                          Winch, I have no idea what you are suggesting in saying that video games are a more effective medium that TV. If you care to, please try to explain what you mean.

                          It seems to me you are saying that expenditure of time, or whiling away time, is better done with video games. Is that what you are saying? Were it to be that, then as life goes on, it probably will become clear that time wasted is not time that can regained. Without all the shit that exists these days designed to make money for the producers and waste time for the purchasers after childhood I still pissed enough time anyway, and it is to a degree a regret. Thankfully, games played apparently for hours while sitting on one's ass did not exist when I was growing up. Games of running and sweating did exist and I'm not sorry about that.

                          Perhaps as the population continues to explode and jobs become more scarce, then as suggested above maybe video games will serve to keep people ignorant enough not to revolt--that might in fact some day be truly useful.
                          Jim 69 y/o

                          "...Texans...the lowest form of white man there is." Robert Duvall, as Al Sieber, in "Geronimo." (see "Location" for examples.)

                          Dedicated to the idea that all people deserve a chance for a healthy productive life. B&M Gates Fdn.

                          Good judgement comes from experience; experience comes from bad judgement. Unknown.

                          Comment


                          • #14
                            Re: It wasn't too long ago that the "video-game" industry was deemed "recession proof"

                            Originally posted by Jim Nickerson View Post
                            Somebody, anybody, explain to me what would be the impact on the future of the world if as of midnight tonight, all video gaming stopped, no longer worked, no longer would be produced?
                            The Tea Party types would be utterly shocked as their favorite form of entertainment (yelling at anyone who doesn't robotically agree with what they robotically agree with) gets replaced with actual violence against the Tea Partier's perceived enemies (all that moving around of the joystick HAS to be replaced by actual movement, and since much of the video game world involves violence as the required way to accomplish stuff). Then, eventually, these folks would genuflect and pray in the directions of Bentonville, Arkansas; Redmond, Washington and Silicon Valley (making sure to avoid Cupertino if possible). The Tea Party types are shocked, never thinking the Liberals and other Lefties were THAT wimpy (they were satisfied with mere bullying).

                            (44 years)

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                            • #15
                              Re: It wasn't too long ago that the "video-game" industry was deemed "recession proof"

                              Originally posted by Jim Nickerson View Post
                              Somebody, anybody, explain to me what would be the impact on the future of the world if as of midnight tonight, all video gaming stopped, no longer worked, no longer would be produced?
                              Someone would have to find other ways to desensitize the youth to graphic and gratuitous violence.
                              "that each simple substance has relations which express all the others"

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