The Game Developers Conference 2024, which concludes today, was another year filled with excitement about the successes and prospects of the video game industry, even in a time of great uncertainty.

While the week-long event was packed with people from all corners of the gaming industry and other interested sectors looking to connect during panels, show floor exhibits and other elements of the event, many attendees were still keeping in mind the wave of layoffs that marked 2023 and worsened this year.

"People in this room have lost their jobs," Alanah Pearce, a writer at PlayStation's Santa Monica Studio, said while presenting the GDC awards show on Wednesday. "People who normally come to GDC every year had to cancel because coming here is kind of an extravagant luxury when you don't know when your next paycheck is going to come in."

According to gaming analytics and market research firm Newzoo, AAA gaming growth on consoles and PC is struggling to match pre-pandemic levels after a surge in engagement that was both fueled by and isolated from the early pandemic. While PC and console revenues saw a compound annual growth rate of 7.2% from 2015 to 2021, Newzoo’s 2023 to 2026 forecast predicts the same rate will be under 3%.