The COVID-19 pandemic has been incredibly deadly and has claimed 470,000 lives worldwide so far. More than nine million people have been confirmed to have contracted the virus. As a result, governments have imposed strict measures to limit its spread while waiting for a vaccine to be developed. However, this means that several businesses have been affected negatively.
The entertainment industry is one that has taken a significant hit overall. However, the video game industry is one that is forecasted to perform well despite the pandemic. It is projected that the industry will be world $159 billion in 2023.
For comparison, box office revenues were $43 billion, and music industry revenues were $57 billion in 2023. That means the video game industry is projected to make four and three times more money this year, respectively.
Since people need to spend so much time indoors these days, it makes sense they are spending a good portion of their pandemic online playing games on websites like CasinoPortugal.Online. Fortunately, we have experts like Victoria Oliveira that can explain this phenomenon.
Mobile Gaming Revenues
Mobile gaming is one of the video game industries that is performing exceptionally well during the pandemic. It is projected that the industry will generate $77.2 billion in revenues this year. That would be a 13.3 percent increase from 2023. Although experts aren’t 100 percent sure of the cause, many believe that it’s because they are less likely to experience a disruption because of the pandemic.
The development of video games can be an arduous process. However, the development of mobile games can be an exception. It’s far less complex to produce a mobile game than a PC or console game because they are working with less advanced software and hardware.
Additionally, mobile gaming has the lowest barrier to entry. With PC and console games, you obviously need a high-end computer or a console to play any new release. However, with mobile games, all you need is a phone or a tablet.
Two-fifths of the world population has a smartphone, and almost every adult in first world countries has one. With many games being free to play, it makes sense that lots of people are playing a few mobile games during the pandemic.
Console and PC Gaming Revenues
The mobile gaming industry thriving doesn’t mean that the console and PC gaming industries are performing poorly. In fact, they are both performing well and are expected to see increases in revenues from 2023. Console gaming revenues are projected to increase by 6.8 percent to $45.2 billion, and PC gaming revenues are projected to increase by 4.8 percent to $36.9 billion.
So, while both video game industries are performing well, why aren’t they doing as well as the mobile gaming industry? As we mentioned above, that can largely be attributed to the barrier to entry.
To play mobile games, all you need is a smartphone. However, to play a console game, you need to purchase a console that will cost you hundreds of dollars before you can consider playing any game. You will also need to buy a TV or some sort of monitor for you to play the game on. As a result, you might need to spend upwards of $500 before you even buy a game.
PC gaming is no better when it comes to barriers to entry. Many people living in first world countries have laptops, but if you want to play new releases, these computers are not strong enough to play them.
As a result, you will need to purchase a gaming computer to play any AAA game that was released in the past few years. A computer with that processing power level will cost you upwards of $1000 if not $2000. That is clearly something that not everyone can afford, so it makes sense that their revenue increases haven’t matched those of the mobile gaming industry.
The Rise of Twitch
If you play video games regularly, you have probably heard of Twitch. For those of you that haven’t, Twitch is the most popular video game streaming platform. You can go to the website and browse through thousands of streamers playing your favorite games. Streamers interact with a live chat and give commentary while they play.
Although Twitch already saw record numbers in 2017, 2018, and 2023, those increases are continuing in 2023. However, numbers started to increase drastically at the start of the pandemic.
With the pandemic beginning in mid-March, data started to come out at the end of April in regard to its effects on different industries. Twitch had 1.49 billion gaming hours watched in April. That was an increase of 50 percent from March. That can largely be attributed to people spending much more time indoors during the pandemic.
Esports As A Substitute for Sports
One of the industries that was hit the hardest by the pandemic was sports. Around the world, sports leagues were put on hold in the middle of March. As one of the most popular forms of entertainment, many people have looked for a suitable replacement. Esports has naturally risen in popularity as a result.
Officially licensed video games from the MLB, NBA, NFL, and NASCAR have aired live on networks like Fox and ESPN during prime slots. In the case of NASCAR, they drew in 1.3 million viewers.
Networks have also started to air professional matches for games like League of Legends and Rocket League. With no sports on, more people are becoming fans of games like this.
Spending Time With Friends
Part of the reason people are spending more time playing video games during the pandemic is that they can spend time with friends. With social distancing active, many people are unable to see their friends, and they get lonely. However, video games provide people with something to do with their friends and family online.
As the world continues to change, many people are starting to play pandemic mobile games. If you are feeling bored or lonely while social distancing, consider playing some games. Video games of all times provide people with something to do with friends and pass the time.