The revenue of the video game industry in 2020 is higher than the total revenue of cinema and sports competitions

The video game industry, like other areas of business, is plagued by the spread of coronary heart disease; But the voluntary housing or forced quarantine of citizens seems to have contributed significantly to the growth of the video game market.

Due to the fact that the video game experience is one of the most popular pastimes, the popularity of video games has increased dramatically during the quarantine period when everyone is at home. According to the NPD, the number of people playing video games in the United States has increased by 79 percent over the past year.

In addition, the total time people spent playing games increased by 26 percent and the money spent on games increased by 33 percent. Much of the statistics provided relate to the mobile platform (smartphone and tablet), which has more access than other platforms; But according to the same report, there is a significant increase in the trend towards console games. The reason for this can be seen in the description of the article. It seems that families are looking for a way to experience offline or online group entertainment at home.

For these reasons, the gaming industry has attracted the largest audience during the quarantine period due to the corona outbreak, and it is said that the industry’s revenue generation has experienced more growth than the sum of the two industries of cinema and sports competitions. According to IDC, the total revenue of the gaming industry is expected to reach $ 179.7 billion by the end of 2020.

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The figures show an astonishing 20% ​​increase over last year. Part of this growth must be related to the corona epidemic and the quarantine period; But this is not the only reason for the gaming industry to increase profitability; Nintendo’s continued success with the Switch console, as well as the release of the ninth-generation PlayStation 5 and Xbox X series consoles, also contributed to this statistic. It is interesting to know that the total revenue of the two film and sports industries in 2019 was equal to 175 billion dollars, both of which faced a significant decrease in 2020.

Gaming console sales increased in 2020; But as we said, a large part of the industry’s revenue comes from the mobile platform. Mobile game sales grew about 26 percent this year to $ 87.7 billion. The bulk of this figure is for the Asia-Pacific region, which is estimated at $ 56.6 billion.

According to gaming analysts, one of the main reasons for the industry’s growth during the Corona epidemic is the growing audience for digital platforms such as Steam and the Epic Games Store. According to these experts, the expansion of cross-Play capability of different consoles is not ineffective in this regard. The release of next-generation consoles boosted gaming hardware sales by 58 percent, with Activision Blizzard and the Call of Duty series among the highest-grossing companies and franchises in 2020. New game release Call of Duty: Black Ops Cold War And sales continuity Call of Duty: Modern Warfare Published in 2019, this statistic has been created.

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Only time will tell whether the gaming industry will be able to maintain this extraordinary trend in 2021. The fierce competition between Sony and Microsoft for a larger share of the ninth generation on the one hand, and the stunning sales of Nintendo games on the other, could keep the gaming industry revenue slope steady in 2021.

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