Early history of video games
The history of video games spans a period of time between the invention of the first electronic games and today, covering a long period of invention and changes. Video gaming reached mainstream popularity in the 1970s and 1980s, when arcade video games, gaming consoles and home computer games were introduced to the general public. Since then, video gaming has become a popular form of entertainment and a part of modern culture in most parts of the world. The early history of video games, therefore, covers the period of time between the first interactive electronic game with an electronic display in 1947, the first true video games in the early 1950s, and the rise of early arcade video games in the 1970s ("Pong" and the beginning of the first generation of video game consoles with the Magnavox Odyssey, both in 1972). During this time there were a wide range of devices and inventions corresponding with large advances in computing technology, and the actual first video game is dependent on the definition of "video game" used.
Video game industry
In 1971, the arcade game, "Computer Space was released." The following year, Atari, Inc. released the first commercially successful video game, "Pong", the original arcade version of which sold over 19,000 arcade cabinets. That same year saw the introduction of video games to the home market with the release of the early video game console, the Magnavox Odyssey. However, both the arcade and home markets would be dominated by "Pong" clones, which flooded the market and led to the video game crash of 1977. The crash eventually came to an end with the success of Taito's "Space Invaders", released in 1978, sparking a renaissance for the video game industry and paving the way for the golden age of video arcade games. The game's success inspired arcade machines to become prevalent in mainstream locations such as shopping malls, traditional storefronts, restaurants and convenience stores during the golden age. "Space Invaders" would go on to sell over 360,000 arcade cabinets worldwide, and by 1982, generate a revenue of $2 billion in quarters, equivalent to $4.6 billion in 2011.