The Canadian media portal Visual Capitalist told what has been happening with video games over the past fifty years. The company reflected the main events in the infographic.
Visual Capitalist has identified three major milestones in the history of the industry: formation, the technological race and the Internet boom. Below is a brief description of them.
1970-1983: formation
This is the era of slot machines. They are gaining such popularity that by the end of 1982 they bring in more revenue than pop music and American film distribution combined.
However, at the same time, the first home consoles appear, and with them the number of games themselves grows. Unfortunately, there were so many games coming out that their quality began to suffer. This led to a crisis in the industry.
1985-2000: technology race
Console manufacturers have established strict control over the quality of the titles produced. There were fewer games, but they were able to interest the audience again. At the same time, the consoles themselves have become much more powerful than their first counterparts.
They also began to produce small portable consoles. And then the market completely discovered a new niche — PC games.
2001 – present: Internet boom
The ubiquity of the Internet and mobile communications has added even more opportunities for the industry. Over the past twenty years, mobile games have been released, the multiplayer format has gained popularity, subscription services have appeared and cloud gaming has been born.
To date, the total revenue of the gaming industry is estimated in the hundreds of billions of dollars, and the number of gamers has exceeded 2.7 billion people.
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