Sunday, May 16

Tag: gaming industry

Lockdown and Loaded: The Whopping Gaming Industry

Lockdown and Loaded: The Whopping Gaming Industry

One of the few industries protected from coronavirus havoc has been the gaming industry. It is supposedly thriving despite worldwide lockdown. According to a report published by World Economic Forum, the global Video Gaming Industry is worth a whopping $159 Billion in 2020, around 4 times the size of box office revenues ($43 billion in 2019) and almost three times the music industry revenue (at $57 billion in 2019). Gaming giants like Nintendo and Tencent saw massive surge in sales. Tencent registered a 41% increase in profit and 31% increase in year on year  revenue. According to Gamesindustry.biz, increase in sales are expected to grow by more than 50% across all major markets. In a conversation with Microsoft CEO Satya Nadella, Mukesh Ambani, the richest Asian in the world, sta...