Entertainment king

Entertainment king

Video games have rapidly turned into one of America’s fastest growing economic sectors.

Video games are not child’s play, they’re actually one of the nation’s fastest growing economic sectors, providing more than 220,000 jobs in communities across all 50 states.

There are currently 150 million Americans playing video games, making video games the biggest entertainment industry in the United States based on consumer spending.

According to the Entertainment Software Association, the U.S. video game industry generated a record $43.4 billion in revenue in 2018, up 18% from 2017, proving its growth in mainstream American culture.

Americans spent a total of $35.8 billion on video game content (i.e. software, in-game purchases and subscription); home-video equipment was the second largest market, with revenue soaring over $23 billion; cinema collected an $11.9 billion total, while music topped over $9 billion.

Today, more than 500 colleges and universities across 46 states offer programs or degrees related to video games.

©Entertainment Software Association (ESA)

Gaming platforms

Whether it’s playing on a mobile device or at home on a PC or console, consumers of all ages have embraces gaming.

A survey conducted by UBM, the company behind the annual Game Developers Conference, studied which gaming platforms are currently getting the most support from game developers.

Unsurprisingly, PC remains as the frontrunner with respect to developer support. 66% of the roughly 4,000 developers surveyed by UBM are currently working on a game that will be released on PCs. Moreover, 60% of the survey respondents consider PCs one of the most interesting gaming platforms.

Nintendo’s popular new hybrid console, the Switch, is also enjoying a lot of developer interest this year, beating even the aforementioned PlayStation 4. However, according to Statista, probably due to its smaller installed base, fewer developers are already working on games for the Switch.

38% of the survey respondents are currently working on mobile games, while 33% consider mobile to be one of the most exciting platforms to work on in 2019.

©Statista

The global video game industry is meeting in San Francisco from March 18th to March 22nd for the annual Game Developers Conference, the world’s largest professional game industry event.

2019-04-29T20:57:10+00:00

About the Author:

Pablo Hernandez
Community Manager and Senior Reporter for CEO Magazine. Write to Pablo at pablo.hernandez@ceo-latam.com
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