Two Ways to Save the Video Game Industry from Crisis
The video game industry is facing an unprecedented challenge, despite being more accessible than ever. While making games has become easier and cheaper thanks to free tools, tutorials, and indie-friendly platforms like Steam and Itch.io, this flood of new developers has oversaturated the market. The COVID-19 pandemic added a spike of temporary interest, leading to misguided investments in areas like blockchain and esports, leaving traditional game development underfunded.
Now, with rising interest rates and investor hesitation, the gaming industry is facing a potential crisis. Many studios are adopting the mantra “Survive to ’25”, hoping to outlast the current turmoil. However, two key strategies could help the industry not just survive but thrive as well:
1. Focus on Established Game Models
Developers should concentrate on proven game genres, such as single-player experiences, instead of chasing high-risk trends. Returning to quality over novelty could stabilize the industry.
2. Embrace Sustainable Development
Leveraging digital platforms like Steam, which pioneered sales models and pricing experiments, can help smaller studios succeed. By offering regular sales, bundles, and metagame features, Steam revolutionized the market and offers a model for future growth.
Related: Sony to Take Concord Offline Just Two Weeks After Release
Looking ahead, the industry will likely shift toward more sustainable practices, with a focus on balancing innovation and reliable game development to recover from this challenging period.