North American Video Game Crash Of 1983
The North American video game crash was a massive recession of the video game industry that occurred from 1983 to 1985. Revenues that had peaked at around $3.2 billion in 1983, fell to around $100 million by 1985 (a drop of almost 97 percent). The crash was a serious event that brought an abrupt end to what is considered the second generation of console video gaming in North America. The crash almost destroyed the then-fledgling industry and led to the bankruptcy of several companies producing home computers and video game consoles in North America, including Atari. It lasted about two years, and many business analysts of the time expressed doubts about the long-term viability of video game consoles. The video-game industry was revitalized a few years later, mostly due to the widespread success of the Nintendo Entertainment System (NES), which was released in North America in 1985 and had become extremely popular by 1987.
There were several reasons for the crash, but the main cause was supersaturation of the market with hundreds of mostly low-quality games which resulted in the loss of consumer confidence. The full effects of the industry crash would not be felt until 1985.
Read more about North American Video Game Crash Of 1983: Causes and Factors
Famous quotes containing the words north, american, video, game and/or crash:
“In England if something goes wrong—say, if one finds a skunk in the garden—he writes to the family solicitor, who proceeds to take the proper measures; whereas in America, you telephone the fire department. Each satisfies a characteristic need; in the English, love of order and legalistic procedure; and here in America, what you like is something vivid, and red, and swift.”
—Alfred North Whitehead (1861–1947)
“Anger becomes limiting, restricting. You can’t see through it. While anger is there, look at that, too. But after a while, you have to look at something else.”
—Thylias Moss, African American poet. As quoted in the Wall Street Journal (May 12, 1994)
“I recently learned something quite interesting about video games. Many young people have developed incredible hand, eye, and brain coordination in playing these games. The air force believes these kids will be our outstanding pilots should they fly our jets.”
—Ronald Reagan (b. 1911)
“Old age is far more than white hair, wrinkles, the feeling that it is too late and the game finished, that the stage belongs to the rising generations. The true evil is not the weakening of the body, but the indifference of the soul.”
—André Maurois (1885–1967)
“At the crash of economic collapse of which the rumblings can already be heard, the sleeping soldiers of the proletariat will awake as at the fanfare of the Last Judgment and the corpses of the victims of the struggle will arise and demand an accounting from those who are loaded down with curses.”
—Karl Liebknecht (1871–1919)