The gaming industry saw massive success in the year 2020. It is reported that the games and interactive media earned a massive $139.9 Billion in the previous year. This means that the games and interactive media saw an increase of 12% year over year. Thanks to the global pandemic and forced lockdowns, people stick to their gaming devices, played games, and stay connected via games with their friends and family.
The pandemic shaped the behavior of the masses in the US as 55% of its population resorted to video games in the initial lockdown due to the pandemic. The lockdown caused a complete halt to all other entertainment segments such as sports and movie theaters. This redirected the masses towards video games as their only source of safe entertainment option.
Talking about the Premium games market, the report suggested that it grew 28% in 2020 due to multiple launches of AAA games this year. Games like Last of Us 2, Doom Eternal, and Cyberpunk 2077 drew a lot of money in the premium games market.
However, Free to Play games still had the lion’s share when it came to games revenue i.e. 78%. The market that topped the free to play games was Asian with a whopping 59% of all earnings. Mobile games were people’s favorite in Asia and games like Honor of Kings and Peacekeeper Elite generated more than $2B each.
One of the most successful and interesting aspects in 2020 was the Gaming Video Content which became a $9.3B with a whopping 1.2B views. These staggering figures were achieved on multiple platforms with the help of competitive games, social games, and brand crossovers. GVC was so successful that even a Congresswoman jumped in on the bandwagon.
And lastly, let’s talk about the VR game earnings which increased 25% year over year to $589M in 2020. Thanks to the VR exclusive game; Half-Life: Alyx which renewed the interest in VR gaming among players. In addition to Half-Life: Alyx, Oculus Quest 2 headset’s affordable prices also made VR an everyday household item.