Value of Gaming More Than Music and Video Combined
According to a new report, the video games sector now accounts for more than half of the United Kingdom’s entire entertainment market.
The Entertainment Retailers Association (ERA) – said the industry is worth £3.86bn ($4.85bn) – more than double its value in 2007. That makes it additional profitable than music and video combined.
The success is essentially all the way down to 3 games: Fifa 19, Red Dead Redemption 2 and Call of Duty: Black Ops 4.
The games market has grown, despite the fact that the physical console and PC games market shrank slightly in 2018, and digital also had a modest 12.5 percent growth.
Chief executive of ERA, Kim Bayley said: ‘The games industry has been fabulously effective in taking advantage of the potential of digital technology to supply new and compelling varieties of recreation. Despite being the youngest of our 3 sectors, it’s currently out and away the most important.’
Three games – Fifa 19, Red Dead Redemption 2 and Call of Duty: Black Ops 4 – each sold more than 1 million physical units in the United Kingdom during 2018.
The figures don’t understand of the success of mobile and free games like Fortnite, that has quite two hundred million players round the world.
Mass market entertainment
Piers Harding-Rolls, head of games research at IHS Markit said that ‘During the last five years the games sector has benefited hugely from the mainstream adoption of games apps on smart devices, and also the transition from physical distribution to digital distribution in established components of the market like console gaming.’
‘Games are now currently real mass market and a very necessary part of the entertainment sector.’
He merely added: ‘Growth has been fuelled by the dominance of free content and in-game validation, which expands the adoption of games but also removes the cap on spending for those gamers that are extremely engaged in the experiences.’
‘The flexibility of interactive content means that it is distinctive in this. It is monetized during this approach, which is a plus over different kinds of amusement.’