Many believe that Gaming and Esports industry has taken a hard hit as the offices reopened after COVID-19, and the downfall of this industry has begun. While we can say this about just the Esports industry, the Gaming industry is still booming, and if you are wondering how big it is, you can have a look at the comparison between the revenue generated by the Movie Industry, which is widely considered as the wealthiest entertainment sector vs. Gaming Industry.
Gaming vs. Movie Industry Revenue: Which Is Bigger?
As per the report by SuperData Research, the Gaming Industry was valued at $159.3 billion in 2020; however, on the other side, the Movie Industry was worth $19.1 billion, which makes the Gaming Industry around eight times bigger than the Movie Industry.
Moving forward in 2022, even though the global games market took a small hit of -5.1%, as per Newzoo, it was still the second biggest entertainment industry after the TV industry as it was worth $182.9 billion and once again surpassed the revenue generated by the Movie and Music Industry combined.
Some of the highest-selling video games include Animal Crossing, GTA 5, Minecraft, Call of Duty, and more; however, mobile games had the highest percentage of revenue (around 50% in 2022, as per Newzoo) among all. The reason behind this is the portability of mobile devices and their affordability compared to other gaming devices available out there.
There are a bunch of other factors that contribute to the success of the Gaming Industry in comparison to the Movie Industry. One of the biggest factors is the immersive and attractive experience games offer. Unlike watching movies, playing video games will let you control your character in the game and experience the stories as you like, making it a more immersive experience than just consuming content through eyes and ears.
Apart from this, it’s a social platform that will connect players from around the world and let them make friends across countries which is not possible in movies. Even in 2023, Activision Blizzard’s Diablo 4 made over $666 Million in just five days after its launch that became their fastest-selling game till date, while on the other hand, Modern Warfare 2 grossed $1 billion in 10 days after it got released, giving us an idea on how well the industry is performing.
Not only this but as per Newzoo’s report, the Gaming Industry will be worth $206.4 billion by 2025. Thus, it is safe to say that the Gaming Industry massively dominates the Movie Industry and is only projected to grow in the coming years.
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