2024 was a challenging year for the gaming industry, marked by widespread layoffs, significant strategic shifts by major companies, and the failure of several large-scale live service games. While some exceptional games were released, and unexpected hits like Palworld and Black Myth: Wukong demonstrated the potential for smaller titles to captivate players, the industry as a whole faced difficulties.
Looking ahead to 2025, the launch of the Nintendo Switch successor and Grand Theft Auto VI are anticipated to play a crucial role in reviving the industry. Notable events that shaped the gaming landscape in 2024 include the continuation of layoffs, with Microsoft's acquisition of Activision Blizzard resulting in the dismissal of nearly 3,000 Xbox developers. Cost-cutting measures led to the closure of several studios owned by Bethesda, including Tango Gameworks, Arkane Austin, Roundhouse Studios, and Mighty Dog Games