Game industry slump due to product, not economy
Nintendo CEO Iwata says:
My belief is we should not blame the bad economy for the cause of slow sales of video games. The slow sales must be due to the lack of great software that everyone wants to buy. We have not shown off the great attractions of whatever we are selling.
He is absolutely right. Sad as it sounds, lack of money does not discourage people from indulging. The film industry is doing exceptionally well today, mirroring the film industry during the Great Depression. Heck, I often overhear people discussing how they manage to barely make ends meet but picked up an amazing new and overpriced car. If the product is attractive enough, people will spend the money whether they have it or not.