Gaming Industry to Recover Soon, Says RallyHere CEO

The gaming industry has faced significant challenges this year, particularly in the games-as-a-service sector. Concerns have arisen over the sudden shutdown of newly launched titles and the reported revenue shortfall of Destiny 2. Stewart Chisam, president of Hi-Rez Ventures and CEO of RallyHere, offered his insights on the matter at the Montreal International Games Summit. Chisam believes the industry is experiencing a 'bullwhip effect' due to the COVID pandemic, which led to a surge in demand and investment. However, with the pandemic's impact fading and interest rates rising, the industry is now correcting itself. Chisam predicts the industry will revert to its standard growth trend and expects the market to hit its low point soon, followed by a recovery. He remains optimistic about the industry's prospects, citing the growing demand for cross-platform play and social experiences. While acknowledging the current challenges, Chisam believes the industry will settle itself out and continue to grow in the long term, driven by trends such as multiplayer social experiences and flexibility in gameplay.