The video game industry is the fastest-growing facet of the entertainment industry. Games are a serious business that is estimated to be worth $ 20-billion worldwide and $8.4billion in U.S.. |
In terms of revenues, the game industry has been growing faster than any other part of the entertainment business over the past five years.
American consumers are spending much more money on video games than they do at movie theaters. Still, total film revenues--including video rentals and sales--remain far higher than those of games.
The Playstation2, which costs $299, also has a DVD player, creating two consumer products in one. It can play audio CDs, DVD movies, or game software.
Microsoft will release a video game console called the Xbox, using a 735MHz Pentium3 chip and a custom designed 3D chip, to best the PlayStation2 in 2001.
Unlike previous Nintendo consoles that used proprietary silicon-based cartridges, Gamecube players uses 3-inch, 1.5GB proprietary optical discs developed for Nintendo by Panasonic's parent Matsushita.