Essay Title: 

The video game industry and the future of console gaming

March 22, 2016 | Author: | Posted in investment, mathematics and economics

The video game industry and the future of console gaming (Simple formatting has been done as different Universities have different requirements , this may kindly be reviewed accordingly . All references are as per Harvard formatting , as was given in your proposal as well . thanks

Chapter 1 – Introduction

Entertainment is emerging as a distinct business form the World over Electronic entertainment is a niche segment which is of particular significance given the growth of computers and the internet . Vogel (2001 ) has highlighted the growth of the American entertainment industry which has emerged as one [banner_entry_middle]

of the largest business sectors and is also attaining a similar status of significance globally . While electronic entertainment comprises of a number of segments such as movies television and cable programs , music , videos and broadcasting , video games are a significant segment of this vast industry (Vogel , 2001 The video games industry made a noticeable impact in 1972 when it emerged as a mass-market , with the introduction of the cooperated video game named `Pong ‘ and the console `Magnavox Odyssey ‘ which proved a huge success in the game industry (Adam , 2003 ) According to Informa Media group (2005 ) the game industry is growing every year . In 2004 the game industry took in 31 .4 billion worldwide . The video games industry includes PC games , mobile phone games , set-top box games , arcade games and video game consoles . It is expected to grow 71 percent from 49 .9 billion in 2001 to 85 .7 billion in 2006 . Video game console has the largest share in the game industry

Newman (2004 ) states that the video game industry is a young and profitable industry for example the Nintendo ‘s game Legend of Zelda had generated domestic gross revenues more than 100 million , even though the cost of production had been a mere 6 million for each game . Though this is an impressive ratio of revenue to cost , it can be seen as risky business as well , in terms of development which can take around two years or more to produce a game and poor rate of assurance of success during the time of production . The video game industry is oligopoly ‘s competition business and it ‘s changing over time (Besanko et al , 2000 The market leader is Sony which sold 60 million units of PlayStation 2 compared with 15 million units sold of Nintendo Gamecube and Microsoft Xbox . The Consoles have their strengths and weaknesses differently moreover the major difference among the platforms is the quantity and quality of available games . In to be the leader in the video game industry , it should be able to offer a large number of unique , high quality video games as the strength of these complementary products will be a critical success factor for the console (Friedman , 2002 . This in turn is driven by the developer who is provided creative inputs by the gamer

There is a symbiotic relationship in console gaming between the console developers and the consumers or gamers . Being an interactive , on going developing product… [banner_entry_footer]

Comments Off on The video game industry and the future of console gaming


This author has published 9190 articles so far. More info about the author is coming soon.

Comments are closed.