Video gaming has overtaken television as the dominant form of entertainment, with the industry generating $120bn in revenue in 2019, according to a new study. Online gaming has helped to drive growth and created revenue through streaming and e-sports. The video gaming demographic is also changing, with women accounting for nearly half of gamers and the average age of players being 35. This shift has put pressure on traditional entertainment providers, such as television and film makers to invest in video games and establish their own streaming platforms.
Video Gaming Dominates Entertainment Industry as Gamers Spend More Time Playing than Watching TV
Growth of Video Gaming Industry
According to a new study, video gaming is now the dominant form of entertainment with gamers spending more time playing than watching TV. The study showed that video gaming generated $120 billion in revenue in 2019, a figure that is expected to increase as the industry continues to grow.
Rise of Online Gaming
The popularity of online gaming has contributed to the growth of the video gaming industry. With the rise of multiplayer games like Fortnite, gamers can now play with each other regardless of their location. Online gaming has also opened up new possibilities for streaming and e-sports, creating even more revenue streams for the industry.
New Demographics
The video gaming industry has traditionally been associated with young men, but that is changing. The study showed that women now make up almost half of all gamers, and the average gamer age is now 35 years old. This shift towards a more diverse demographic is helping to drive growth in the industry.
Impact on Traditional Entertainment
The rise of video gaming is having a significant impact on traditional entertainment industries like television and movies. Streaming services like Netflix are now investing heavily in video game adaptations as they look to capture the attention of gamers. Traditional broadcasters are also feeling the pressure, with some networks launching their own streaming services to try and compete.
Conclusion
The dominance of video gaming in the entertainment industry is a reflection of the changing habits of consumers. Gamers are spending more time playing than watching TV, and the industry is responding with new games, new revenue streams, and new opportunities for players. As the industry continues to grow, it will be interesting to see how traditional entertainment adapts to the changing landscape.