Video game industry’s selective boom will only worsen as sector expands
Share to linkedinThe video game industry is having one of its best years ever, but not every corner of the business is thriving. And this selective boom is happening amid a fast-approaching future of fractured audiences, new delivery platforms, stiffening competition, talent shortages, complicated consumer relationships, and uncertain revenue streams.
, led by double-digit gains in “digital console content, mobile and subscription spending.” For all of 2019 so far, total sales were $27.9 billion, about 83 percent of that going to buy content rather than hardware. Nintendo Switch, which came out three years after the PS4 and Xbox One, is still selling well, though arguably, its classic first-party franchises and durable fan base also differ from the console heavyweights, more kid-friendly and family oriented.
And that will lead to a wave of mergers & acquisitions in the next few years, survey participants prognosticated. This is all coming after a huge period of growth in game revenues, which have doubled the past five years. They’ll be doing so amidst a great deal of competition. Last month, Apple launched its well-received Arcade subscription service, and today, Google is launching its tepidly reviewed Stadia cloud-based streaming service., is also imminent. Nvidia, Sony, Steam, and several publishers have or are launching their own streaming services too.
“The advent of cloud gaming, especially when combined with the rollout of technologies such as 5G, represents more than just an opportunity for the industry – it’s a strategic imperative,” said Scott Porter, partner of advisory services for EY. “By seizing the opportunities to adopt the latest technologies, leading companies can prevail and potentially reverse the trend of slower growth.
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