Video Game Economics
Contents
Introduction
The modern day video game industry is one of the most profitable and fast-growing industries in the world. With over $180 billion dollars of generated revenue in 2021 and 3 billion players, video games are cementing themselves as a staple among recreational activities, and with the help of the recent covid-19 pandemic, the numbers only continue to grow. Despite the seemingly overwhelming amount of positives that have come from this new industry, however, there are ethical issues that come with this success. This article will be focusing on the ethical economic dilemmas that video game companies face when marketing and designing their products.
History
Video games emerged in the 1970s with the introduction of Atari. Games such as Pong and Space Invaders swept the world, generating over $2 billion in revenue in the first 10 years, primarily through arcade consoles in malls, restaurants, and storefronts. From 1978-1981, revenue increased 18 fold, sky rocketing from around $50 million annually to $900 million, quickly surpassing pop music and Hollywood combined.
