![]() Hungry for novel entertainment, these enthusiasts have devoured new releases. By the end of 2021, 3bn people in the world will be considered “gamers”. The number of gamers globally had been growing at 6% CAGR, with the pandemic and global lockdowns further accelerating that trend. This dramatic growth is spurred by a gigantic and expanding consumer base, willing to spend money on their passion. This gap has widened throughout the pandemic, as traditional media and sports properties have struggled to recover while gaming continues to grow (Exhibit 2). That is more than the combined annual worldwide box office earnings, music streaming and album sales, and take of the top five wealthiest sports leagues. Newzoo forecasts that annual global gaming revenue will reach over $200 billion by 2023, almost 8% annual growth from $138 billion in 2018Ģ 2 Source: Newszoo Notes: 2 Source: Newszoo. The Gaming & esports sector has grown faster than anyone could have imagined and is now a $175B-ayear business growing at a ~10% CAGR. Meanwhile, the pool of aspiring amateurs seeking to monetize their personal passion or hobby continues to grow. Netflix has said that Fortnite is a bigger competitive threat than HNetflix Shareholder Report Notes: 1 2018 Netflix Shareholder Report. By comparison, 2.7m viewers tuned in to watch the Men’s Singles final of the last US Open. The event drew up to 2.3m viewers, and the winner earned $3m in prize money. The 2019 Fortnite World Cup Final (a leading sports title) was held at Arthur Ashe stadium, home to the US Open. Many esports competitors have risen to the reputation and compensation levels of professional athletes. ![]() ![]() As evidence of their popularity, the video game Grand Theft Auto V, for example, set seven Guinness World Records since its release in 2013, including a world record for US$1 billion of sales within three days of launching.Įsports is a subset of gaming and refers to competition involving video games – people playing against one another (individually and in teams) for prize money and global recognition. They compete for individuals’ leisure time with other entertainment activities like movies, books, and the arts. Gaming and esports are distinct yet integrated ecosystems, combining to form a sector that presents rich opportunities for both industry and governments.Įncompassing a range of electronic amusements where players interact with an interface or input device to produce visual feedback, video games have emerged as a global cultural force. Gaming & Esports: A Fast-Growing Industry Sector With its substantial revenue potential, the high-quality jobs it creates, and its reputational benefits, Gaming & esports presents rich opportunities for industry and national governments alike. ![]() Gaming & esports is a vibrant and fast-growing sector, powered largely by the passion of 3 billion enthusiasts around the globe. Technology, Media, and Telecommunications.
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