Intro to Macroeconomic Presentation of the US Video Game Industry (Pt 1)

Originally written August 3

Since their commercialized conception in the early 1970s, video games have undergone several evolutions, had many different perceptions, and left a myriad of impacts on society. From the Atari 2600 to the PlayStation 4, electronic gaming has transformed into arguably one of the most profitable and fastest growing entertainment industries of all time in just 60 years. This notion that video gaming truly can serve as an economic leader in the entertainment industry was really emphasized after the 2013 release of Grand Theft Auto V (GTA V) by Rockstar Games. Just in its first day of sales, GTA V managed to rake in $800 USD in worldwide sales. This massive sales record made it the highest-grossing launch day piece of entertainment, which includes movies and music, of all time[1]. This means that a mere video game managed to outsell and outperform every single song, film, or record ever produced on its first day.

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Abstract: Analysis of the video game industry’s impact on the US economy

With the technological advancement of our world, it is critical to understand the scope and future of the video game industry, as it is one of the fastest growing markets in the world. There are innovations in technology and hardware with different devices, advances in graphics that can essentially transform games into art, opportunities for individual profiting off of content creation and sharing, and even professional “E-sports” leagues based around popular games that draw larger global audiences than most telecast events.

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