From the start of the medium in the early 60s all the way up to the modern day, the history of video games is defined by constant evolution. Pong gave way to Pac-Man, which led to Doom, which led to Call of Duty. This is an abridged history, of course, but each of those advancements corresponded with a step forward in terms of both technology and video games as an industry. We’re now on the ninth generation of video game consoles, which have achieved a level of photorealism that would’ve been thought impossible 40 years ago, and what’s more, the global video game market was valued at around $322 billion in 2025, a behemoth number larger than even film or music.
And yet, there’s trouble in paradise: As of July 7, Microsoft is set to lay off at least 3200 employees, along with axing no less than five studios, with Xbox taking the brunt of the damage. And almost as if to compete with Xbox for worst announcements, on July 9, Sony announced that they’re moving away from the manufacturing of physical discs, ushering us into a digital-only era just as games are steadily creeping up in price —look no further than GTA6, $79.99, a $10 increase from standard industry prices for new games.
