The video game industry has experienced immense growth in 2020, with many people turning to games for entertainment during the COVID-19 pandemic. Record sales figures are expected, with revenue predicted to reach $200 billion by the end of 2023. Top games such as Animal Crossing: New Horizons, Call of Duty: Modern Warfare, and Warzone have seen significant success. Mobile gaming has also experienced growth, with games like Among Us and Genshin Impact gaining a massive following. The future of the video game industry looks promising, with new technologies such as virtual reality and cloud gaming poised to revolutionize the industry.
Immense Growth for Video Game Industry: Record Sales Figures in 2020
Video games emerge as a top source of entertainment amidst the pandemic
By John Smith, News Correspondent
The Rise of Video Games in 2020
The COVID-19 pandemic has had a profound impact on the entertainment industry, with many people turning to video games for their daily dose of recreation. This has led to record sales figures for the video game industry, with revenue expected to reach $200 billion by the end of 2023, according to a report by the market research firm, Newzoo.
Significant Sales Figures for Top Video Game Titles
Several video game titles have seen immense success this year, including Animal Crossing: New Horizons, which sold over 11 million copies in its first 11 days. The game’s popularity continued to grow throughout the year, with lifetime sales reaching over 26 million units.
Meanwhile, Call of Duty: Modern Warfare and Warzone also saw a surge in sales, with over 75 million players joining the games since their release in March. The games reportedly earned over $3 billion in revenue in the first year of release.
Growth in Mobile Gaming
In addition to traditional console and PC gaming, mobile gaming has experienced significant growth in 2020, with games such as Among Us and Genshin Impact gaining a massive following. According to a report by SensorTower, Among Us saw over 265 million downloads in 2020, while Genshin Impact reportedly earned over $393 million in its first two months of release.
The popularity of mobile gaming is expected to continue rising in the coming years, with Newzoo predicting that mobile games will account for 59% of the video game industry’s total revenue in 2021.
The Future of Video Games
The immense growth witnessed by the video game industry in 2020 is expected to continue in the coming years, with new technologies such as virtual reality and cloud gaming poised to revolutionize the industry.
Moreover, the pandemic has changed the way people view video games, with many now recognizing them as a legitimate source of entertainment and social interaction. This shift in perception is expected to lead to increased investment and innovation in the industry, which in turn will drive growth and revenue.