Will the Video Game Market Continue to Boom?
SodaHead Gaming
2011/11/29 14:00:00
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Some economists suggest Americans should jump on booming industries like biotechnology or alternative energy, but there might be an industry closer to home -- in fact, it might sitting right next to your television. According to Reuters, the video game industry, already valued at an impressive $65 billion, is expected to jump to $72.1 billion by 2015.
The report also indicates that mobile and online gaming, not console gaming, leads the industry. Of course, Xbox is still making bank -- 57.6 million Xbox 360 consoles sold in 6 years is nothing to scoff at -- but overall retail software revenue actually dropped $300 million this year. Online revenue went up $2.4 billion, and is expected to make up much of the industry's revenue increase over the next few years.
The report also indicates that mobile and online gaming, not console gaming, leads the industry. Of course, Xbox is still making bank -- 57.6 million Xbox 360 consoles sold in 6 years is nothing to scoff at -- but overall retail software revenue actually dropped $300 million this year. Online revenue went up $2.4 billion, and is expected to make up much of the industry's revenue increase over the next few years.
Top Opinion
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Hannah 2011/11/30 01:27:32
It is kind of sad that literature might actually be completely replaced by video games just because video games are so interactive, but I hope they don't take reading out completely because younger people these days are dumb enough.
http://www.gameguru.in/img/to...
As for mobile/online gaming being bigger than console, that's kind of a given, since you don't have to buy a brand new console to play the latest games, just update the firmware. That and mobile/online games are a lot cheaper since they have no physical medium and reach a much wider audience. That's why a lot of indie developers are going with mobile/online games first, then moving onto the bigger stuff as they see fit, it's a lot easier to find an audience in that market, not to mention the games don't have to be nearly as long and in fact are shunned when they are long.
With $hit this awesome, how could it not.
Online multiplayer only makes a game better if it makes match-ups based on skill. There is no satisfaction in victory without the overbearing threat of defeat.
Yeah, instead of establishing an innovative industrial base (like Germany, biggest economy in Europe, second largest export nations, bested only by China.), you instead build financial, service and entertainment "industries". You know how that went. A massive trade deficit.
Video games will only increase in popularity until they become a staple of entertainment that relatively few will abstain from. But, like cinema before it, the people who finance video games will insist that their products be dumbed down to ensure mass appeal, and only a few standout titles will be released on a year-by-year basis.
Unfortunately, despite the great strides in technology and loathe as I am to even consider it, I think the so-called 'golden age' for video games has already passed.
Also, Call of Duty Modern Warfare 3 first week sales hit $738 million. That's more than any other entertainment medium in history.