It's likely that some of these companies won't return to the idea of physical shows at all.

It's not completely the fault of coronavirus hysteria, however. After all, none of this happened when the H1N1 pandemic (swine flu) hit the globe in 2009 and 2010. E3 went off without a hitch at the height of that outbreak in June 2009, with 41,000 people showing up at the Los Angeles Convention Center to see Microsoft reveal the Kinect, and Sony announce the PSP Go and PlayStation Move. Overall, there were zero major conference cancellations tied to the pandemic. Meanwhile, COVID-19 isn't even classified as a pandemic (yet).

In-person trade shows are organizationally complex, costly and unpredictable. They've been this way since the beginning, but only out of necessity. There hasn't been a better way to drum up industry-wide excitement for new technologies -- until now. Companies today have multiple options for advertising directly to consumers, business partners and investors. Internet saturation has reached a stable point in most markets and its underlying infrastructure is expanding daily, while tools like live streaming and social media have made it easier than ever to reach audience members.

Nintendo has proven how successful online showcases can be. The House of Mario is notorious for exerting strict control over its franchises and ignoring industry trends to create wildly unique products, a strategy that's resulted in Nintendo Direct live streams. Since 2011, Nintendo executives have presented the company's most exciting announcements in scripted videos that talk directly to consumers, and the approach has paid off. Nintendo president Satoru Iwata hosted most of the company's digital showcases from 2011 until his death in 2015, and he grew to be one of the most beloved tech leaders of his time, largely because of the relationship he built with players through the camera lens. Every Nintendo Direct causes a tiny (and sometimes huge) news explosion in the video game industry, and fans eagerly await each one.

Best of all, Nintendo can create these showcases without leaving the office. So can any other company that takes this path.

Nintendo has proven how successful online showcases can be.

Online events make sense. Ditching big conventions means companies can better control their messaging without the perils of live, on-stage accidents, and they'll save money on exorbitant exhibitor fees, amphitheater and equipment rentals, transportation, event organization and on-site sustenance. Plus, they'll have more control over when these news drops will take place -- for instance, E3 is held in the summer and tends to interrupt the workflow of many attending studios, which aim to release big titles in the fall.