Playstation the Official Magazine (May 2008) was able to interview one of the most influential analysis for the gaming industry, Michale Patcher. One of the questions asked during the interview regarded the video game industry and its inherent ability to stay recession proof, in theory.
PTOM: "The video game industry in general has often been considered "recession proof" since in times of economic strain consumers specifically focus their available leisure dollars on their core enthusiasts interests. Do you believe that it's true, and if the worldwide economic woes continue, will it impact, for example, expensive PS3 game development?"
Michael Patcher: "It's impossible to know whether video games are "recession proof," but I think it's likely that this is true. Entertainment in general is more affordable than things like vacations, and consumers seem to believe that entertainment is essential, while things like sweaters and shoes are more discretionary. Think about it: when was the last time you bought a pair of shoes just because your old ones had a hole in the sole? I think that parents canceling that trip to Disney World as too expensive will consider buying games (and consoles) out of guilt for a fraction of the cost. I don't think that world economic woes will significantly impact PS3 development, given that the developers / publishers are primarily well-capitalized companies with easy access to cash. Also, games being developed today are intended to release in two years, so only a foolish developer would hold off based upon a concern that the economic meltdown will last that long."
So, in theory the video game industry is recession proof, interesting.
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