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:
“I’m trusting in the Lord and a good lawyer.”
—Oliver North (b. 1943)
“Well, Mr. Thornton, you are a wonder. It looks the way all Irish cottages should and so seldom do. And only an American would have thought of emerald green.”
—Frank S. Nugent (1908–1965)
“We attempt to remember our collective American childhood, the way it was, but what we often remember is a combination of real past, pieces reshaped by bitterness and love, and, of course, the video past—the portrayals of family life on such television programs as “Leave it to Beaver” and “Father Knows Best” and all the rest.”
—Richard Louv (20th century)
“I have a notion that gamblers are as happy as most people, being always excited; women, wine, fame, the table, even ambition, sate now & then, but every turn of the card & cast of the dice keeps the gambler alive—besides one can game ten times longer than one can do any thing else.”
—George Gordon Noel Byron (1788–1824)
“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)