Whenever we listen to the word game, we involuntarily tend to get excited and encouraged. Games are one of the appreciable sources of entertainment.
Every form of the game is equally desirable, be it offline or online. Nowadays, people are addicted to smartphones that lead to greater dependency on digital platforms rather than using traditional sources.
Even in the gaming sector, people mostly prefer games that are available digitally. Firstly because these are easy to access and secondly, it involves the use of such graphics which makes them attractive and addicted to it.
What Are Video Games?
Video games are the type of games that are played electronically through any digital device like mobile, computer, laptops, television, gaming console such as play station, etc. with a means to control graphic images.
They are a kind of digital board game. Most of the people, and especially youngsters, find it very fascinating and gratifying.
It provides them a feeling of happiness as well as relaxation to a great extent. These days not only youngsters but their parents are also leaning towards the Video Game Industry. They find it as an excellent source of restoration and a great way to occupy their idle time.
Genres Of Video Games
There are various genres of Video games, like –
- Survival – horror
- Massively multi-players
- Text games
- mysterious, etc.
Scope Of Video Gaming Industry
The Video Game Industry is a part of the rapidly growing sector and is considered as an entertainment business. and in that services like rocket league boosting also helps players to increase their ranks. No doubt, it’s a billion-dollar industry and has been there for more than several decades.
From 1970-2020, the gaming market has seen several ups and down with lots of inventions and advancements. In this sector, mainly mobile gaming generates the most revenue.
In 2019, the worldwide mobile gaming market earned $151.9 billion, and it is expected that it will touch around $165.9 billion by 2020. It is anticipated that it will reach over $300 billion by 2025. There are about 2.5 billion gamers in the world. The video gaming sector has high potential growth in the future.
Sources Of Revenue
You must be thinking that how does the Video Game Industry make such higher revenue?
- Free To Play Models –
Its because there are various in-game purchases like weapons, characters outfits, cars, etc. in the free to play version of games. People tend to buy those items using real money as they get engrossed in the game. And that’s how despite offering free gaming, the industry makes such profits.
Most of the game makers are now shifting to free to play versions of games to seek high income.
- Mobile Games –
Mobile video game makers earn money via advertisements. Whenever a person watches an ad, the game developer earns a small fraction of money, let say five paise per ad, imagine if 1 million people watch that same ad, a developer can easily make up to £50,000. Advertisements are a great source of revenue.
- Subscriptions –
Various games offer you the subscription service to play. When you pay a monthly fee for membership in a free to play version, then the gamer provides you the access to use more weapons, reach higher levels, enjoy extra moves, and various other features. And that is how developers make money.
These were the few facts and statistics about how well the Video Game Industry is doing so far and about its future scope. We also learned about how video games make money. Hope this article was beneficial for you. Happy learning!