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Yes, the video game industry has never faced so many challenges and changes in its landscaped. Here are few reasons

1. Economic depression

2. Mobile platform/games (Android, iOS, Windows Store...)

3. Indie game vs AAA

4. Alternative consoles : Ouya, Gamestick, Valvebox, Oculus Rift, Nvidia Shield...

5. Server gaming (OnLive, Gaikaï...)

6. Internet Censorship/Always on DRM vs Piracy

7. Free2play, Microtransaction, Episodes...

(8. bonus from the future : TVs as multimedia center, console and even PCs)