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Wyrdness said:

It's been on cards for over a decade now, E3 as it is now is also down scaled from what it used to be in the early 00s, the event just costs too much money for everyone involved and has little significance in how things pan out in the market. Many are also realizing that the stage show part of it is more irrelevant to the content as seen when the 2014 E3 ND beat out the other shows, that was a wake up call as a pre-recorded event that cost a fraction of what it costs to be at E3 had more praise.

Let go back to 2008, Nintendo's worst E3, they sold more that year regardless than any other year that gen, it showed that E3 was nothing more than a passing day dream and not relevant to the market movements itself. Developers and Publishers are realizing that so are opting for the same approach of less involvement with E3.

E3's days as it is now are numbered especially with the progression of the internet and streaming, don't be surprised if all platfrom holders in future gens are using the same approach.

I'm starting to feel this too. Its unfortunate that E3 is being scaled down, but the Internet has changed everything and is continuing to evolve, thus, the way content is being presented is changing as well. We're seeing live streams of demos, presentations, interviews, etc. We don't necessarily need to go to the actual venue to watch anymore. I couldn't imagine how you could have gotten the latest content and news from E3 years ago the way you can nowadays.