The video game industry is poised for a turnaround after a challenging period following the initial surge in sales during the early days of the pandemic. In 2025, Nintendo is set to release a new console following the success of the Switch, while Take-Two is gearing up for the highly anticipated launch of “Grand Theft Auto VI.”
Former Nintendo of America president Reggie Fils-Aimé believes the industry is on an upswing, with new games and platforms generating positive consumer reactions. While the market experienced significant growth at the start of the pandemic, sales declined in subsequent years. However, there are signs of recovery, with mobile gaming revenue increasing and the home console market expected to receive a boost from upcoming game releases and new console launches.
Despite challenges such as layoffs and supply chain issues affecting system sales, industry experts remain optimistic. While growth may not reach the levels seen at the peak of the pandemic, it is expected to provide relief for the industry overall. Subscribe to the Yahoo Finance Tech newsletter for the latest updates.
Vocabulary List:
- Turnaround /ˈtɜrnəˌraʊnd/ (noun): A complete change in direction or approach often resulting in improvement.
- Anticipated /ænˈtɪsɪˌpeɪtɪd/ (adjective): Expected or predicted.
- Upswing /ˈʌpˌswɪŋ/ (noun): An increase or improvement.
- Significant /sɪɡˈnɪfɪkənt/ (adjective): Important and deserving attention.
- Optimistic /ˌɒptɪˈmɪstɪk/ (adjective): Hopeful and confident about the future.
- Revenue /ˈrɛvəˌnuː/ (noun): Income generated from normal business operations.
How much do you know?
