The data shows that gaming is taking over the entertainment industry. Many are asking, how come? The trend is following the pandemic and a new generation of gamers.
For the previous generation, gaming was either a solo venture or with a friend on the same console. Today’s generation can play with anyone, anywhere, at any time, thanks to the evolution of the internet and online gaming. Furthermore, gaming companies are discovering the power of social media, streaming, and games combined, especially during the last year due to the pandemic. This trend has no end in sight. No crisis will be able to stop it because it was here before, and it’s here to stay.
With the beginning of lockdown worldwide, gaming mentions exploded all over the internet.
Sales are Booming!
What really stands out amongst all the data is the spike-ins sales. In March of last year, $10 billion was spent on the gaming industry. While this is a huge number, what really is astonishing is the growth within the sector itself. For example, console sales grew 20%, while high-performance PC sales grew 50%; and the overall digital sales in March were up 11% year-on-year. These are stats for the US and Europe.
In China, however, the first country to suffer because of the pandemic, the industry also showed similar growth. In the first quarter of 2020, the industry saw a rise of $10.34 billion in revenue. That is over 25% compared to the final quarter of 2019. Furthermore, the mobile game market witnessed a near 50% spike compared to the previous year. This is no surprise if we consider the rise in online casinos offering new apps and free slots and console games being adapted for mobile phones.
Trends Existed Before the Pandemic
The truth is that these behaviors were being seen before the worldwide pandemic. In the UK, for example, 80% of the sales made in 2018 were digital purchases. The industry’s main stat-tracker predicted that the gaming industry, with a strong emphasis on mobile gaming, would reach close to, if not more than, $70 in 2020. They released those numbers before the pandemic, so you can imagine that number was a lot higher than predicted.
What people fail to realize is that these “trends” created by the global lockdown and quarantine are, in fact, the anticipation of a behavioral change that has been in the background year after year for a generation that has always lived surrounded by the digital entertainment industry. This generation talks via apps and shops online, who understand digital interactions because they have always been part of their life.
One trend that is because of the pandemic is the new way we enjoy live music. More and more companies are replicated models used my gaming streaming services, such as Twitch, to allow us to watch a concert from the comfort of our own home. It may not be gaming, but the model certainly has its origins in gaming.
Who knows what the future holds, but one thing is almost certain, gaming will continue to grow.
Featured Photo by Emmanuel on Unsplash