In the past few years, the gaming marketplace has blown up into a legitimate industry that rakes in billions of dollars in annual revenues. From the fragrr pros, there’s definitely more to gaming now than “just for fun”. Want more proof? Read along!
Delving into the Numbers
Continuous improvements in technology ushered along with it a much better gaming experience. In 2018, the gaming industry saw a whopping $135 billion in worldwide revenues, compared to the meager $107 billion it made in 2017. Digital games are the largest contributor to this massive figure, earning 13% higher in 2018 with $119.6 billion. The ongoing influx of mobile games makes it the top earning category with $61.3 billion, followed by PC games and classic console games at $35.7 billion and $12.7 billion respectively.
Where Are All the Gamers?
Although more and more people are hopping into the gaming fever worldwide, the Asia–Pacific region remains to be the largest gaming marketplace, housing roughly one billion of the world’s entire gaming population and generating 62% of overall free-to-play game revenues. China, the country with the biggest player base is also home to the biggest game company in the world, Tencent. Because players in the east love their fun free of charge, premium and pay-to-play games find a cozy spot within the hearts of western gamers.
Play and Get Paid
Remember those times when your mom would scold you for playing online games all night instead of thinking about your moneymaking feats in the future? Fear not because with the constantly growing gaming marketplace, you can now play your way to a bigger paycheck. Are you the type who is confident before the camera? You can try becoming an online game streamer and monetize your videos by bringing in views. According to SuperData, 32% of Twitch’s revenues in 2018 stem from online game streaming subscriptions and donations, much higher than the 9% gamers earn from YouTube’s video monetization schemes. Are you the type who is skilled in your favorite game with a flair for competition? Then why not join a team and join an eSports tournament? Ever since they have been introduced, prize pools for these professional competitions have been steadily on the rise. Three of the biggest games with the most jaw-dropping prizes are Defense of the Ancients 2 ($137 billion), Counter Strike: Global Offensive ($51 billion), and League of Legends ($550 million).
On to the Next Level
What’s there for gamers to look forward to in the future? According to forecasts made by SuperData, more and more games will become playable in different platforms, giving them increased accessibility to gamers across different consoles. Additionally, cloud gaming will soon be the next big thing to hit the gaming marketplace, allowing gamers to play literally anytime and anywhere without the hassle of downloading gigabytes of game files into their devices. Finally, if the gaming industry continues to grow at its current rate, it might become a $300 billion industry in 2025.
Gaming is indeed a serious business nowadays, a far cry from the pastime that it was in the past. With tons of titles to choose from, anyone can go on a thrilling adventure anytime straight out of their phones, PCs, and consoles. So, gear up and get the entire gang together as a party because there are tons of leveling to do!