The video gaming industry is booming so it’s no surprise that the revenue in the industry has increased by 2 percent this past year, reaching a record breaking $35.4 billion in sales revenue. The revenue made in gaming has been on a steady incline in recent years, with this year being no exception to the industry’s revenue rise.
Every year, the Entertainment Software Association (ESA) and the NPD group produce a yearly report about the sales pattern of various Entertainment industries, including the video gaming industry. The report works somewhat like a census and provides information on the sales of video game systems, games, demographics, and what the pattern of the industry is overall. This is a moment for gamers and publishers alike to reflect on information such as target audience, popular genres, and general statistics of the gaming industry.
The record-breaking $35.4 billion figure includes in-game purchases and all software purchases as well as mobile spend data, but does not include physical content and PC digital content. In a PR statement, the ESA and the NPD group state that they expect to see more economic growth for the gaming industry. This growth also emphasizes that people of all backgrounds love to play video games, a notion-now-fact most gamers would agree with. ESA President and CEO Stanley Pierre-Louis states, “The continued economic growth and impact of the industry illustrates what we in the industry see every day – more and more people of all ages and backgrounds love playing video games and are celebrating their unparalleled entertainment. As new platforms and technology continue to reach more players across the country, we expect 2020 to be yet another exciting year of engaging content and innovation as video games cement their place as the leading form of entertainment in America.”
Additionally, the ESA and the NPD broke down the basic household breakdown of gamers. This breakdown states that, on average, 75% of most homes in the U.S. have a gamer. One of the factors in gamings’ rise in revenue is accessibility. Playing video games has never been easier, with players now having access through PC, and console. Smartphones have also become a strong contender for video game revenue, revealing a large amount of players using phone as a primary console. The inclusion of cloud gaming, cross-platform play, and VR also makes gaming more accessible and desirable. “Consumer spending on entertainment software increased in 2019, driven by the expanded reach and accessibility of content across a variety of platforms including console, PC, mobile and virtual reality.” said Mat Piscatella, industry analyst, The NPD Group. “2020 is expected to be a year that sets the stage for the next period of rapid spending growth for video game content. New hardware, subscription, and cloud gaming offerings are poised to give players even more options to engage with gaming content wherever, whenever and however they wish.”
It’s great news that the video game industry is not just living, but it is thriving. With public figures attempting to discredit what video games do, it’s good to see the industry as a whole is still on the rise. The increase in revenue also indicates that a better gaming future is not too far off. With more money going into the industry, publishers are sure to turn out better and more enticing games and consoles. The gaming industry is ever growing, and is as inclusive as it’s ever been. This coming year is sure to provide new and exciting games that players will be sure to love.
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