Gaming is big business. And snack makers want in.
Beverage brands have long been advertising directly to gamers. Red Bull has been active in the esports world for years, Monster Energy made waves when it appeared prominently in the game Death Stranding and PepsiCo has even developed a product, Mountain Dew Game Fuel, specifically for gamers. Food brands, however, haven't courted that demographic as aggressively.
Last month, the tech company announced it would pay nearly $70 billion for the gaming firm, even though Activision and its controversial CEO had been recently accused of fostering a toxic work environment.The Microsoft acquisition is just one piece of the puzzle. Globally, consumer spending on games, including subscriptions and in-app purchases, hit $180.3 billion in 2021, according to Newzoo, an analytics company for the gaming market. Newzoo predicts that spending will grow to $218.