This is true. Big companies were the first to pull out of GDC as well. I think the big players feel they have to spend a lot to keep up and they don't get a lot out of it.
I believe the smaller companies are the ones that tend to benefit from the big conferences, because it gives them a chance to talk to people all over the world who might not otherwise be available. Speaking for myself, these cancellations are understandable, but a big problem for my work.
I've heard it was more important, at GDC at least, for indies because you have legendary devs walking around who can help small teams get deals or contacts with bigger networks. Make a demo that catches the eye of the right person and it can be really helpful.
Exactly-- you meet new teams you may want to do business with. Devs meet people who want to invest. Not exactly helpful for EA or Activision, but big help to others.
I believe the smaller companies are the ones that tend to benefit from the big conferences, because it gives them a chance to talk to people all over the world who might not otherwise be available. Speaking for myself, these cancellations are understandable, but a big problem for my work.