The rise of video games has turned Fortnite into a social phenomenon, made esports a rival to the NFL for viewers, and grown button-mashing into a bigger money-maker than Hollywood. Now one veteran analyst is calling for the first industry downturn in a quarter century.
Video game revenue is headed for the first decline since 1995, with sales expected to fall by 1 percent to $136.5 billion this year, according to Pelham Smithers, owner of an eponymous London-based research firm. He blames China’s stricter approach to game approvals, a shortage of big console hits, and fatigue among players for battle-royale titles like Fortnite.
