A recent report revealed that the video game industry surpassed the sports and film industries in 2020 due to the Chinese coronavirus.
Data from IDC shows that global video game revenue will rise by 20 percent to $ 179.7 billion by 2020, while the sports and film industries suffer from the Wuhan virus, according to a MarketWatch report.
Estimating that the video game industry will rise to $ 179.7 billion, the global film industry will reach $ 100 billion in revenue for the first time in 2019, while North American sports are expected to bring in more than $ 75 billion by 2020.
The report adds that the double-digit growth in the video game industry is followed by high single-digit growth in the previous two years. In addition, experts expect the growth to continue in 2021, as Sony recently introduced the next generation of gaming consoles.
In this June 14, 2018, people are standing online next to the PlayStation booth at the 24th Electronic Entertainment Expo E3 at the Los Angeles Convention Center. Sony announced on Wednesday, September 16, 2020 that its upcoming PlayStation 5 video game will cost $ 500 and launch on November 12, launching a holiday battle with Microsoft’s Xbox Series X over whose new console will appear more under the tree this year. (AP Photo / Damian Dovarganes, file)
‘I do think there will be a delay as soon as effective, cheap, globally available vaccines get out there in the course of 2021, but I’m very sure there will be billions of potential people who will be needed by the end of 2021. vaccines, ”IDC Research Director Lewis Ward told MarketWatch. “So, my delay will occur in 2022.”
While console sales will increase from new versions released, the fastest growing group in the gaming industry is mobile games, which are expected to rise by 24 percent to $ 87.7 billion.
This boom is due in part to the fact that China has lifted a ban on gambling consoles, Ward said. He added that revenue from the Asia-Pacific region is expected to rise nearly 25 percent from a year ago to $ 56.6 billion.
The report adds that revenue from PC games has taken a hit due to popular iCafes in China being shut down due to the Wuhan virus.
In a survey released during the summer, 79 percent of respondents said they had played video games over the past six months – or since the coronavirus was declared a pandemic in March – with an average of 14 hours of play per week, compared to with an average of 12 according to NPD analyst Mat Piscatella, a year ago an hour ago.
Piscatella added that Activision Blizzard is with all the options out there Call of Duty franchise “is the best example of a comprehensive approach.”
“These are the ones who appeal to a lot of different ways of engaging,” Piscatella said.
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