The Entertainment Software Association issued a statement on Monday saying they are planning to downsize its Electronic Entertainment Expo (E3), the popular annual video game trade show.

The event has been held every year in the Los Angeles Convention Center and attracts journalists, retailers, and large exhibitors. But in the release on Monday, the ESA President Douglas Lowenstein said future shows will be scaled back, focused more on scheduled meetings and activities instead of fanfare.

The world of interactive entertainment has changed since E3 Expo was created 12 years ago, Lowenstein said. It is no longer necessary or efficient to have a single industry 'mega-show.'

E3, is the industry's largest show, has been famous for gigantic booths from companies eager to showcase their latest software and hardware. This type of showcasing will still be part of the down-sized show, which will stay in Los Angeles, but no longer be held at the Los Angeles Convention Center, he said.

E3Expo remains an important event for the industry and we want to keep that sense of excitement and interest, Lowenstein said, ensuring that the human and financial resources crucial to its success can be deployed productively to create an exciting new format to meet the needs of the industry.

An ESA representative was not immediately available. The statement, however, said further details in the months to come, though did say that future shows will focus on press and small meetings.