Economy Video games still dominate entertainment industry, study finds

Video games still dominate entertainment industry, study finds

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648x415 personne jouant jeu video illustration

A person playing a video game. (Drawing) – Sierakowski / ISOPIX / SIPA

The video games sector drained over the whole of 2020 a total amount of 163 billion dollars (a little more than 137 billion euros) according to a study. The end-of-year figure could even be higher with the marketing of flagship products, Sony’s PlayStation 5 and Microsoft’s Xbox Series X consoles. This assessment was published in a report by the digital recruiting specialist TechNet, relayed by Lemon Press.

Data compiled by experts shows the predominance of video games in the economic entertainment sector. Half of the total value of the latter comes indeed from the “tenth art”, notes Advanced Television. Games have experienced strong growth estimated at 11 billion dollars (just over 9 billion euros) between 2019 and 2020.

Free games dominate

The video game sector has therefore not been hit hard by the health crisis linked to the coronavirus, but it has also managed to grow in the midst of the global pandemic. The music or film industries, for example, cannot say the same. The video game economy largely owes its good shape to free titles, such as Fortnite or Call of Duty Mobile.

Forecasts shared last September by other experts at Juniper Research point to an arch-domination of free games in future mobile downloads, specifies Lemon Press. They should thus represent 99% of the total of this type of operation “in the next three years”. More generally, the video game industry is unlikely to see its growth stop anytime soon. Specialists believe that in 2023, this activity could generate 200 billion dollars (168 billion euros) in the world.

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