Video Games In The Postpandemic Environment

Video Games In The Postpandemic Environment

Video Games In The Postpandemic Environment

Last year, the global video games market generated $182.9 billion in revenue, a decline of 5.1 percent from the year prior, according to Newzoo. With declining revenue, the video game industry is similar to the entertainment, media and publishing sectors (among many others), which saw strong growth in the heart of the COVID-19 pandemic, only to see declines following the “opening up” period. However, in many ways, the video game industry is in a different – and better – place than those other sectors. With the exception of esports, video games continue to attract significant consumer time and attention: the industry has a business model that companies find appealing, and games have a cultural appeal that continues to grow more powerful. Simply put, the video game sector continues to win in the battle for consumers’ time and attention, and has business models to take advantage of it.

Share this Insight

We look forward to helping you