The World of Video Games

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As in every year, the ever-popular industry of video games has experienced remarkable expansion in 2021 and 2022. As of 2021, the video game industry is worth a whopping $115 billion USD, with revenues exceeding $138 billion USD. During 2021 and 2022 alone, several major titles were released that became international sensations, while others have flopped and received mixed receptions at best.

Elden Ring was one of the biggest winners this year so far. Released by FromSoftware creators of the Dark Souls franchise, the dark-fantasy action-adventure was announced in 2018 and anticipation only built since that announcement. With writing done by A Song of Ice and Fire author George R.R. Martin and developed by renowned video game developer Hidetaka Miyazaki, the game was granted the award for Most Anticipated Game two years in a row, in 2020 and 2021. Upon release on February 25, the game received critical acclaim. Possessing perfect scores from IGN and the Guardian, among others, Elden Ring was an enormous success for FromSoftware, selling 12 million copies within three weeks of its release, making it FromSoftware’s single best selling game.

While in 2022, not many notable failures have yet been witnessed, in 2021, the highly-anticipated Battlefield 2042 flopped. A member of the popular Battlefield franchise, the game received overwhelming backlash at launch from critics and players alike, being criticized for its many technical problems. As of April 26, the game currently stands at 27 per cent on the popular gaming platform Steam, with over 100,000 reviews.

The impact of the pandemic on the video game sector has been quite significant. As people stayed at home, demand for video games surged. The pandemic’s impact has resulted in 23 per cent growth in 2020 from 2019, growth that has only continued, with research firm Newzoo estimating that the industry could grow to $219 billion USD by 2024. Some problems have also emerged due to supply-chain issues, with shortages of next-generation consoles presenting troubles to developers and publishers wishing to take advantage of the new technology.