UPDATE (1/6/22 at 2:10 pm PT): The article has been updated to reflect a new clarification from the ESA which say it's "excited about the possibilities of an online event", but is not committed to one. As of right now, it's unclear if or how E3 2022 will happen.
Just like last year, E3 2022's in-person event is canceled and an online version is a possibility. The Entertainment Software Association (ESA), the organizer for E3, has confirmed it has canceled its physical event which was scheduled to be held in Los Angeles this summer. E3 usually allows the press and even fans to get hands-on time with all of the hottest upcoming games while also offering opportunities for interviews with developers. It's the biggest time for gaming and moving it online removes a lot of the elements that make it such a massive event.
As soon as COVID became a prominent issue in 2020, E3 2020 was canceled and E3 2021 was moved to an online-only event. Many other large-scale gaming events followed suit by canceling their events outright or doing an online counterpart. Given E3 is a week-long affair where outlets spend time seeing all of the games, interviewing devs, and making all kinds of other content, it put E3 2021 in a bit of a jam. 2021's event was heavily scripted and lacked a lot of meaningful content between the various press conferences that usually happen the weekend before E3.
It seems a repeat of that could happen in 2022 as well. The ESA confirmed to VentureBeat that E3 2022 will not be held in-person due to rising fears of the Omicron COVID variant. The ESA said it's "excited about the possibilities of an online event," but wouldn't commit to one. It has been reported by Mike Futterish that the ESA had actually abandoned its dates at the LA Convention Center in November, suggesting that COVID concerns are a "spin". Reputable journalist Jason Schreier agreed with Futterish's thoughts, believing E3 as an in-person event is a thing of the past.
Industry veterans such as Reggie Fils-Aimé have expressed disappointment over a digital E3 in the past. It's unclear if E3 doubling down on an online event would be noteworthy whatsoever. In recent years, publishers like Sony and EA have abandoned the event in favor of doing its own thing. It saves money, allows them to work at their own pace, and ensures they don't have to share the spotlight. If E3 doesn't have a physical space for people to experience the games, it may not be worth it for many publishers.
As of right now, there's no word as to whether or not E3 will host an online event. With that said, gaming events will continue in the summer. Geoff Keighley used the E3 news as a way to confirm Summer Game Fest will return in 2022, an event that made a name for itself last summer by having the long-awaited first gameplay trailer for Elden Ring. It seems likely Summer Games Fest could replace E3 if the ESA opts to throw in the towel.
Sources: VentureBeat, Mike Futterish, Jason Schreier