Google has entered the videogaming industry. Its competitors should be terrified but instead they're in denial

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Microsoft’s gaming head, Phil Spencer, said that console hardware is here to stay while videogame streaming is “years and years away” from becoming mainstream. Because of this, Phil Spencer’s comment reminds us of Kodak CEO Colby Chandler’s reaction to digital imaging, who said: “, electronic cameras are unfeasible because people liked color prints and digital technology does not deliver a high-quality set of prints as yet.” Spencer takes solace from the fact that it took Netflix many years to become mainstream. Incumbents often struggle to respond to technological change due to four factors: they do not want to let their capabilities honed over decades become redundant; they also don’t want to let go of fat profit margins; they fear cannibalising themselves; and they struggle to shift business models. Google’s platform is likely to grow exponentially: the list of third party developers around Stadia has shot up to over 4,000 companies, including many heavyweight publishers.