Early history of video games
Throughout the rest of the 1960s, digital computer games were created by increasingly numerous programmers and sometimes sold commercially in catalogs. As the audience for video games expanded to more than a few dozen research institutions with the falling cost of computers, and programming languages that would run on multiple types of computers were created, a wider variety of games began to be developed. Video games transitioned into a new era in the early 1970s with the launch of the commercial video game industry in 1971 with the display of the coin-operated arcade game "Galaxy Game" and the release of the first arcade video game "Computer Space", and then in 1972 with the release of the immensely successful arcade game "Pong" and the first home video game console, the Magnavox Odyssey, which launched the first generation of video game consoles.
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.