The Future of Gaming Consoles: Are They Facing Extinction?

The gaming industry is constantly evolving, with significant changes occurring over the past decade. The way people purchase and play games has undergone a significant transformation, from visiting physical stores to downloading games directly to their devices. The rise of digital platforms has also enabled developers to release their games without the need for publishers. However, the question remains as to whether consoles will continue to be a dominant form of gaming in the future. According to Shawn Layden, the global install base of consoles has never exceeded 250 million, and the industry's failure to attract new audiences poses an existential threat. Van Burnham believes that consoles will play a vital role in bringing about immersive experiences like the Holodeck, but they will need to evolve to meet this future. Michael Pachter, on the other hand, thinks that consoles will continue to exist, but each successive generation will be smaller than the last. The panel discussion also touches on the limitations of streaming, the rise of metaverse platforms, and the potential for scalable gaming experiences across various devices.