It seems as if the argument for a recession-proof videogame industry is slowly being chipped away. Lazard Capital Markets analyst Colin Sebastian notes that the shifting economic climate is unevenly affecting large and small publishers. Sebastian says that when games aren’t selling well, retailers become cautious and in turn rely more heavily on blockbuster titles and eschew unproven ones. Thus, the likes of EA and Activision Blizzard experience better sales than publishers who churn out more obscure titles like, say Zack and Wiki.

Of course, Sebastian also hopes for the best, noting that in spite of everything, things are on the whole still looking good for the industry.