Economy

What is E3, the Video Games Industry’s Conference?

The exhibition is only opened to professionals, however millions of people religiously follow the announcements online

June 13th, 2016
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With 91,8 billion dollars of revenue in 2015, the video games industry is one of the most lucrative cultural industries. In the video games world, the Electronic Entertainment Exposition (E3) is the most important convention, the moment that no editor wants to miss. E3 has been held every year since 1995 in the Convention Center in Los Angeles. The salon is only open to professionals of the industry, but is streamed on the internet with millions of gamers attending the event behind their computers.

Organised by the Entertainment Software Association (ESA), the major video games editors, the E3 is the place where the studios announce future games and new consoles. Microsoft, Electronic Arts, Sony, Square Enix or Ubisoft, all are present and compete to make the most spectacular announcement, the kind that will make millions of players buy their new products.

The reasons for the excitement around E3 are multiple. The gamer community consists of millions of players all around the world and is very active on the Internet – NeoGAF, the most famous gamer website has hundreds of thousands members and receives millions of messages. For the video games developers the stakes are enormous, as the market represents tens of billions of dollars, with some experts believing it could jump to around 100 billion dollars in 2016.

The star of 2016 is most probably virtual reality, which should bring a totally new type of experience to video games. Oculus and Sony already unveiled their virtual reality headset, however games using virtual reality are expected to be announced and Microsoft is projected to launch its own model. With a starting price of around 400 Euros for such a device, it is a new huge market with many business opportunities. For the control of this new market there will be an important struggle between the major actors of the video games industry.

References:

Cultural Diplomacy News
Gaspard Fontaine, CD News