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There's no denying the sheer magnitude of video games as an industry. They compete with the likes of movies and music, which is difficult to believe if you know your history. Back in 1983, an event known simply as the video game crash occurred, which nearly crippled the industry as a whole. When it comes to the important details of the event in question, finances included, here is what the likes of Bob Jain can tell you.
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.
When it comes to the reasons why the video game crash occurred, there are many points to cover. According to the Robert Jain and other such names in finance, oversaturation in the market made it difficult for gamers to keep up, as they couldn't feasibly spend money on multiple systems. Furthermore, the libraries of games on said systems were too alike to warrant additional purchases. With a crowded market, it's easy for the average consumer to feel overwhelmed.
Another common cause that's looked to, as far as the video game crash is concerned, is the decreased quality of the games themselves. "E.T. the Extra-Terrestrial" for the Atari 2600 is a popular example, but it's far from the only one. As a matter of fact, these products left the buyers with sour tastes in their mouth. Eventually, it reached a point where the people that enjoyed this hobby simply couldn't justify spending money on shoddy entertainment.
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.
When it comes to the reasons why the video game crash occurred, there are many points to cover. According to the Robert Jain and other such names in finance, oversaturation in the market made it difficult for gamers to keep up, as they couldn't feasibly spend money on multiple systems. Furthermore, the libraries of games on said systems were too alike to warrant additional purchases. With a crowded market, it's easy for the average consumer to feel overwhelmed.
Another common cause that's looked to, as far as the video game crash is concerned, is the decreased quality of the games themselves. "E.T. the Extra-Terrestrial" for the Atari 2600 is a popular example, but it's far from the only one. As a matter of fact, these products left the buyers with sour tastes in their mouth. Eventually, it reached a point where the people that enjoyed this hobby simply couldn't justify spending money on shoddy entertainment.
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 like to know how to improve your financial situation, contact Bob Jain today.. This article, The Impact Of The Video Game Crash Of 1983, With Bob Jain is available for free reprint.
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