It may surprise you to know that Power Up Gaming started life back in 2006, as a retro gaming eBay store. It’s a testament to this site’s love of classic titles, and perhaps goes some way towards explaining our unwavering belief that retro games are here to stay.
Explosion of Popularity
What was once considered a very niche hobby has exploded in popularity in recent years, with the retro games industry – at least in the eyes of many commentators – peaking during lockdown. Indeed, look at the very phrasing of ‘industry’: the pastime has become a commercial market over the last decade or so, with some (admittedly pristine and rare) classic games commanding eye-wateringly high sums.
In 2024, there’s no escaping from retro games. Arcade1Up’s lovingly recreated cabinets have become popular fixtures in online and high-street shops, mascot heroes such as Sonic and Mario have seen big-screen success, while, when you read this comprehensive article, you can see that even online slot machines such as Street Fighter II: The World Warrior have been inspired by classic console titles.
What about Grading Retro Titles?
The grading of video games, in a similar vein to grading baseball and Pokémon cards, has been a recent phenomenon that has increased the desirability, and – of course – perceived value of retro games, with many dedicated companies now specializing in the authentication of sealed titles of yesteryear.
Although professional grading has spiked retro gaming pricing in recent years, there are some signs that this highly commercialized corner of the market may have already reached its zenith. Popular YouTuber Karl Jobst proclaimed that the market had ‘crashed’, with his video on the subject racking up over 1.4 million views in just two months to date.
The sold data for immaculate graded games is inarguable, with some auction prices down as much as 90%-plus over the past 12 months. But is that really a sign that retro gaming is on the decline?
Artificial Scarcity Drives Market Conditions
We would argue that the retro games industry has actually gone through a rebalancing process over the past year or so, as it becomes clear that there are far more classic titles in circulation than had been predicted. With grading being relatively new to video games and demand far outstripping early supply, initial excitement vastly inflated the value of the more popular classic titles.
Today, now that such services have become established and part of the mainstream gaming discussion, many more collectors are wanting to try to cash in on their own slice of the retro pie and we’re finding out that – shock – well-preserved games that originally sold in their millions actually aren’t all that hard to find.
All of this money talk, of course, betrays the real reason retro gaming continues to be popular. Nostalgia is a powerful emotion, as well as the fact that they truly “don’t make ‘em like they used to” when it comes to video games. So, while treating retro games as a commodity might not prove to yield the same financial return as the hottest investment options, the artform itself is alive and well.
Re-releases, Reimaginations or Something New?
Considering that many gamers who grew up during the initial ‘golden ages’ of gaming are now in their 20s, 30s and 40s and have their own disposable incomes, it’s inevitable that retro will remain a big seller in the decades to come – mirroring the industry snowballing and its audience’s expansion over the last 30 years.
Publishers are always keen to capitalize on that nostalgia factor, with officially sanctioned re-releases of classic titles becoming regular fixtures in both physical and digital storefronts. But as PlayStation gamers now purchase the original Crash Bandicoot on Sony’s fifth successive console, could ‘retro fatigue’ set in?
It’s certainly a possibility, and in any case, it’s important that a desire to relive the past doesn’t stifle innovation. The previously untouchable Naughty Dog have come under fire from some quarters for their multiple releases of The Last of Us, Parts I and II, eschewing new properties for several years now. When it comes to retro gaming, where does that perfect balance lie?
For some, remakes or ‘re-imaginations’ of their childhood favorites, which bring classic properties up to date on modern hardware, are the way to go – just look at the sales figures for the Spyro and Crash trilogies, respectively. Others would prefer seminal titles to be advanced with innovation that blends old and new, such as Crash Bandicoot 4, Sonic Mania, and the long-awaited Spyro the Dragon sequel.
Ultimately, as long as developers continue to play to the nostalgia-tinted spectacles adorned by the vast majority of gamers of a certain age, and newer generations are able to get their hands on the best titles of yesteryear, retro gaming will be here to stay.
