Pachter: E3 is virtually useless for retail and investors
Michael Pachter is at it again, giving out his expert opinion on some of the biggest issues in the gaming business. This time, he talks about the upcoming E3 and how it’s “useless” because it is no longer what it was a few years ago. The full story after the jump.
With E3 2008 just around the corner, analysts and game media personnel are now earmarking this installment of the annual event as the most crucial in its history. The reason being that E3 may have lost too much of its identity to go on.
It used to be that E3 was the venue for big announcements and a showcase of the biggest upcoming games. Since 2007, however, the event has taken on a more businesslike approach and has become more restrictive by not allowing the general public in. This move has proven as the catalyst for some major game publishers to bolt from the group and abandon the yearly gathering.
“The conference used to offer retail, media and investors an early look at games and an opportunity to speak with company managements,” comments Wedbush Morgan analyst Michael Pachter. “Now the games have long since been announced and the event is virtually useless for retail and for investors.”
IGN’s president for game content, Tal Blevins agrees. He called E3 of 2008 crucial because “companies will see how much coverage they get out of the show and how much value they are getting out of the conference.”
Many believe that the attention of the media and of investors this year will mainly be on the console manufacturers rather than game makers in general. For one, Ladenburg Thalman Gaming and Casino fund portfolio manager Dan Ahrens thinks that a lot of E3 2008’s excitement hinges on Sony.
“E3 is significant this year only because Sony are claiming they are going to unveil something big at the conference,” he said. “That’s important because we know what happens with the PlayStation and Xbox 360 can drive what happens to the independent publishers’ games.”
Could we be seeing the beginning of the end for E3? It just might be unless we see some big fireworks go off in this year’s show. Stay with us for coverage on it.
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- No sign of Final Fantasy XIII: Square Enix unveils game line-up for E3 2008
- Michael Pachter predicts price drops on Xbox 360, PS3 imminent
Via The Street