Fallout Creator Says The Games Industry Problems Aren't As Bad As The 1983 Crash

In 1983, the video game industry suffered a historic crash after the console market was inundated with cheap copycats, leading to reduced sales that were offset by increased prices: worse games that cost more. Companies went under or pulled out of the market entirely, and home video game revenue in the US fell by 97 percent from $3 billion to $100 million within the span of just three years. Players migrated towards PC amid dwindling interest in consoles, while innovators such as Nintendo carved out a reputation for unique, high-quality games, allowing them to come out the other end as pioneers.