Analyst: E3 Reflected 'Renewed Optimism' In Games Industry

Following last week's E3 event in Los Angeles, analyst Colin Sebastian with Lazard Capital Markets noted several games industry trends, adding that there is a "renewed optimism" permeating throughout the industry.

Sebastian said in a Monday note: Entering the middle innings of the current video game console cycle, we note a renewed sense of optimism among industry participants, following three years of navigating through a difficult transition to a Nintendo-dominated market and managing higher expectations from consumers in terms of game play and online capabilities."

"Notably, the steep cost of 'next generation' game development as well as the meteoric rise of the Nintendo Wii suffocated some of the smaller software publishers that did not have deep pockets or enough strong brands, while several top tier publishers were slow to react to the changing market and sank into periods of financial and operational challenges they are only now leaving behind."

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