E3 Fades as Other Live Gaming Conventions Gain Traction
Once the can't-miss event for video game publishers, developers, and hardware manufacturers, E3 has faced waning public and industry interest due to security concerns and lackluster turnout during the COVID-19 pandemic.
The Electronic Software Association (ESA), which has organized and hosted E3 since its debut in 1995, announced in a public statement that "ESA has decided, after more than two decades as the central showcase for the video game industry, to end E3." This decision came with the cancellation of the event for 2020 and 2022, with many publishers opting to host their own online showcases such as Sony's "State of Play" and Nintendo Direct.
Although E3 originally catered to game developers, publishers, and hardware manufacturers to showcase new products and technologies to retailers and the media, the event began allowing public attendance towards its end. Despite this, the video game industry titan succumbed to growing pressure in 2023 with mainstream game events like the Video Game Awards, Summer Game Festival, and Tribeca Gaming Spotlight continuing to capture gamers' attention. Even at scaled-down events like CES 2022, Sony's VR showcases maintained an audience draw.
E3's Quest for a Comeback
As the convention strives for a return to its former glory, IT events like the Video Game Awards, Summer Game Festival, and Tribeca Gaming Spotlight remain popular among gamers, while Sony's VR showcases even penetrated the reduced CES 2022.
Even as live events experience some challenges after the COVID-19 pandemic, show turnouts like those at CES 2023 (117,000+ attendees) and the Mobile World Congress and Chicago Auto Show have surpassed previous year numbers. The tech sector's heavyweights, including Apple, Amazon, and Chevrolet, continue to participate in these events, emphasizing their continued value.
Despite this, some of the biggest events like CES 2023 and the World Mobile Congress 2023 still fell short of their 2019 attendance figures. The Utilities Expo, however, set a new attendance record.
Neil Saunders, a retail analyst and CEO of GlobalData Retail, notes that "Most retailers find trade shows valuable. They are a source of new ideas and enable retailers to network and learn. Many things, such as product demos, should ideally be conducted in person, and trade shows are a great way to achieve that."
While some events experienced mixed attendance results, the industry as a whole is expected to experience significant growth due to trends like experiential marketing, networking opportunities, and the adoption of hybrid and virtual events.
Enrichment Data:
The decline of E3 and the concurrent ascendancy of other live gaming conventions can be attributed to a veritable cocktail of factors, including:
- Exclusive and Invitation-Only Events: The new gaming convention, iicon, adheres to an "invitation-only" model, which aims to offer a more curated and exclusive experience for high-level industry discussions and strategic partnerships.
- Hybrid and Virtual Event Trends: Many events have embraced hybrid models, integrating both in-person and virtual components. This expanded reach and flexibility in attendance may contribute to higher overall attendance figures (Forrester B2B Summit North America).
- Industry Shifts and Focus: iicon appears to emphasize corporate synergy and brand alignments, which may not resonate as strongly with the general public as the thrilling announcements and surprises at E3. This shift towards a corporate-focused convention might explain why it fails to garner the same level of public interest as E3.
- Post-Pandemic Recovery: Some live events have seen a return to in-person engagements after the pandemic nuisances, albeit with pandemic-related precautions. This blended virtual-physical format, paired with the resurgence in live events, has facilitated their revival and attendance surges (CES 2023, Mobile World Congress, and the Chicago Auto Show).
- Market Trends and Projections: The event market, including corporate events, is expected to witness a substantial overall growth, driven by trends like experiential marketing, networking possibilities, and the widespread adoption of hybrid and virtual events. This broader industry expansion may contribute to increased attendance at various conventions.
In summary, E3's decline and the rising tide of alternative live gaming events can be attributed to a mélange of factors comprising exclusive and corporate-focused events, hybrid and virtual conventions, and the ascending overall event industry trend.
