“Entertainment Industry” is an umbrella term that comprises several sub-industries. Among them, there’s music, movies, games, TV, theatre and more. It’s an industry in constant expansion and a state of flux, involving professionals from many specialties. Yet, the gaming industry is something else. Stay with and learn from its incredible growth.
A Market in Steep Ascension
Less than 50 years separate the first-ever video game from 3D games and virtual reality. Players from that time would hardly believe what video games could become. Now, games have movie-like graphics, storylines that live up to any Hollywood blockbuster. The greatest pop artist of our time signs over their soundtracks for megabucks.
In 2020, the gaming sector amassed about $180 billion in sales and revenue globally. This industry is already larger than North American sports and movies put together. For comparison, the film sector reached the mark of $100 billion revenue in 2019, globally. Meanwhile, North American sports, in general, earned a “meager” $75 billion in 2020.
Zero and Low Cost Games
Not all games need multi-billion dollars investment or staggering looks to be a hit. If you like to keep it simple, there are also fantastic options for gaming enthusiasts such as the best penny slot machines to play online and in establishments, there are demo games and trial periods before spending any real money on a game.
Mobile Gaming
Within the gaming sector, there’s a subgroup rising fast, which is mobile gaming. It’s not surprising, considering that almost half of the world’s population has at least one smartphone. Increasingly better devices and faster connectivity are the main factors pushing the numbers up. In fact, mobile gaming revenue was already bigger last year than console or PC games.
Video Games and Esports
Thanks to better technology, games based on sports – referred to as “esports” – are more realistic than ever. People can partner up and form teams to compete in parallel competitions. Such is the case of the Euro 2020 and its virtual version, eEuro 2020. The digital competition was supported by PlayStation 4 and Konami’s PES 2020. Naturally, this segment has also created a demand for esports betting. Online casinos and gambling platforms alike are undoubtedly enjoying this momentum.
What’s In for Investors?
Of course, such a wealthy and broad market is attracting more investors every day. Big name developers are already quoted on the stock market, and investors look eager to grab a share. According to Investopedia, Electronic Arts Inc., AVID, and Nintendo are among the hottest companies to invest in. Yet, investing in this business also has risks.
Companies that are too dependent on a single game can lose value if this game has a cold reception. Such a valuable market is also bound to attract competitors. The market has witnessed a boom partially because of the record number of people at home. It can change when things return to normal, and people can return to their traditional leisure activities.
Conclusion
The gaming sector is growing almost exponentially and reaching out to other segments to increase its winnings. Partnerships between developers and pop artists in sports leagues are the best examples of it. So the future of digital gaming looks bright indeed.