The industry boomed during the pandemic, when people were home and had time to play video games, according to Romero, who has been in the gaming space since 1981. But as people returned to the workplace and things like inflation tightened people’s wallets, they stopped spending as much on luxury goods, which includes video games. 

In addition to reduced spending, Kelly Boudreau, an associate professor in interactive media theory and design at Harrisburg University of Science and Technology, said some of the companies were already struggling when they released major titles, which meant that a financially successful game didn’t necessarily translate to job security for the studio’s staff. 

“Critically acclaimed [games] may not be the big financial blockbusters, and that’s something to think about,” Boudreau said. “The other thing is, there’s always a boom and a bust in any industry.”

Experts said it is hard to predict how this year’s layoffs could impact the industry in the long term. But Boudreau and others who spoke with NBC News suggest that this year’s “bust” of layoffs could lead to fewer standout games for a time. Major developers will likely only stick to existing properties, they predicted, meaning more remakes and sequels, and fewer new ideas. 

The breadth between the layoffs and the number of high-quality games released this year could mean that fans are largely unaware of the turmoil the gaming industry is going through, Romero said. 

Games like Baldur’s Gate 3, The Legend of Zelda: Tears of the Kingdom and Alan Wake 2 all released to rave reviews and fan acclaim. They are among the six nominees for “game of the year” at The Game Awards. 

The industry also saw massive success with adaptations of games on the big screen, like HBO’s “The Last of Us,” which earned 24 Emmy nominations, and Universal Pictures’ “The Super Mario Bros Movie,” which made $1.36 billion worldwide. (NBC News and Universal Pictures are both owned by NBCUniversal).  

“Especially when we’re looking at record-breaking sales for some of these titles, how is that not translating down to the workforce at all?” Kocurek, the Illinois Tech professor, said. 

Romero said that she and others in the industry are rooting for GTA VI to succeed — hoping that its success could be a harbinger of positive change behind the scenes of the industry. 

“I hope that GTA knocks it out of the park,” she said. “You know, if it knocks it out of the park, it means more jobs.”

GTA VI could generate bookings of $3.5 billion at launch and an annual average of $2 billion thereafter, according to a BofA Global Research estimate from 2022. It’s not only one of the more profitable games, but has been the most anticipated. And the longer the wait, the more frenzied the internet has become. 

Dozens of YouTube channels devoted themselves to sussing out release dates. Reddit communities scoured previous games and developer Rockstar Games’ social media feeds for hints and clues about the upcoming game. A rogue gamer even stormed the stage at the Germany-based gaming convention Gamescom, ranting about GTA VI. 

On Monday, people online praised Rockstar for its handling of the trailer leak by releasing it ahead of its anticipated Tuesday drop. Many appeared enthusiastic about what was teased.

“Man that’s looks really freaking good,” wrote one user on X.

Others, while excited, said 2025 felt too far away.

“2025???? (This looks unreal though)” wrote another X user.

Some also pointed out how it was notable for the franchise to have its first female lead.

“GTA being in Vice City is sick,” wrote one X user. “Everything looks super sick. Also a woman led GTA has been a long time coming. Cool to see that come to fruition.”

Like Romero, Kocurek said that the game’s release will be exciting to those who work in the industry, including those who didn’t have a hand in making it. 

“It’s super exciting they’re making another title, and it’s fun even to look back at some of the older Grand Theft Autos,” Kocurek said. “Technology changes and expectations change and the platform’s change. But it’s a big deal and it’s also high stakes for everyone involved.”