Why video game layoffs, closures, and mergers keep happening
How many people in the US played video games last year according to the Entertainment Software Association (ESA)?
According to the Entertainment Software Association (ESA), more than 212 million people in the US played video games last year3.
What is the total amount spent by these players on games and in-game content as reported by the ESA?
According to the Entertainment Software Association (ESA), more than 212 million people played games last year and spent more than $47 billion on the games and in-game content1.
Why is June considered the hype season for the video game industry?
June is considered the hype season for the video game industry because it is the month when many new games are announced and showcased. This tradition started with the Electronic Entertainment Expo (E3), a major annual event where game developers and publishers would reveal their upcoming projects. Although E3 has faced some challenges in recent years, including being canceled in 2020 due to the pandemic, June remains a popular month for game announcements and presentations2.
Several factors contribute to June being the prime time for game hype:
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E3's Legacy: Even though E3's influence has waned, its historical importance still casts a shadow over the industry. Many game developers and publishers continue to time their announcements and presentations around the original E3 schedule.
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Summer Break: June is the beginning of the summer season in the Northern Hemisphere, where many people take vacations. This makes it an ideal time for game companies to capture the attention of consumers who may have more free time to engage with new titles.
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Holiday Sales: Many game releases are timed to coincide with the holiday season, which is a crucial period for sales in the gaming industry. Announcing games in June gives companies ample time to build hype and anticipation before the holiday shopping season begins.
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Industry Trends: Game developers and publishers often follow the trends set by their competitors. If several major companies are planning announcements in June, others may follow suit to ensure their projects don't get overshadowed.
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Game Development Cycles: June may also align with the internal development cycles of many game studios. By June, many projects may have reached a stage where they can be showcased to the public, generating excitement and feedback.
In summary, June has become synonymous with game announcements and excitement in the video game industry due to a combination of historical factors, consumer behavior, industry trends, and game development cycles.