Video games have served as entertainment for adults and children for decades. It continuously enhanced from the early days, and with new technologies, it has become accessible to anyone and pushed into Hollywood movie territory regarding production. Nevertheless, it is increasingly tough to create a good game, but the costs have also risen with this greater complexity. It was once unthinkable to sink millions of dollars into development costs. But games today can cost tens and even hundreds of times more. The video game sector is massive. It is larger than the music and movie industries combined, as over two billion gamers worldwide, and that is not the end.
In 2020, the game industry generated 155 billion dollars in revenue. By 2025, analysts anticipate the sector will reach more than $260 billion in revenue. Therefore, it’s no wonder that businesses want a piece of the pie and are looking for a way to get involved. Tech giants are no exception; such companies as Google, Facebook, and Apple, have all made plans to enter the video and mobile game industry shortly.
Involvement of Tech Companies into Streaming
Facebook, Apple, Google, and other nontraditional gaming companies are stepping into the game industry through streaming services and forcing the industry overall to make a step forward into people’s lives.
Thanks to its popular Xbox console, Microsoft is already in the gaming industry. Also, in 2019, the brand introduced “ProjectxCloud,” a streaming service for video games. With its help, it is possible to stream Xbox games to any device. The service is fully functional and can be accessed by subscribing to Xbox Games Pass.
Also, in 2016, Meta entered the market with a gaming platform with Unity Technologies. That helps game and mobile app developers render 3D animation in real-time. On the other hand, Google launched its Stafia program, a cloud gaming service. With this service, users can stream video games of genuinely high quality.
These companies’ main goal is to allow users to stream video games without needing a video game console or computer. As this trend keeps going, the purchase of physical video games or discs will disappear over time. Giving space for the games on mobile phones tablets. Streaming services subscription is our future, as it decreases the costs for manufacturing, shipping, and storage. In addition, subscription services have also allowed revenue generation throughout the year, whereas traditionally, games were bought during holidays and other significant events.
Merchandising
The games cost a lot to make; therefore, the video and mobile game industry require to spin more revenue off its intellectual property. The merchandising is quite a good solution. By selling t-shirts, hats, mugs, figures, and more, companies can increase their budgets. The popular video game Assassin’s Creed, developed by Ubisoft, was made into a movie in 2016 with prominent actors. In addition, Sega’s famous Sonic the Hedgehog game was made into a successful film in 2020. Setting the record for the greatest opening weekend for a video game–based film. This may be the best approach for all successful video and mobile game series to follow.
The Expansion of the Market Demographics
The mobile game industry is expanding the market as far as demographics go. People play games earlier and later in life, and there is no gender difference. Video and mobile games have become so popular on a mass scale that certain players stream videos of themselves playing at home and make thousands of dollars by doing so. Also, some video games are considered sports. Gaming has an expansive appeal, and it is still expanding.
Vintage Mobile Video Games
As people become nostalgic and we see remakes of films and music from decades ago, the same is occurring in video games. Vintage video games from the industry’s early stages are in high demand. They have become extremely popular with older players who experienced the games first-hand and with a new generation. Many have taken advantage of this nostalgia and released updated or similar new versions available via mobile phone. Don’t miss this opportunity!
The world is moving toward time spent on mobile phones, mobile games and streaming services. With more users playing mobile games, creating the need for more immersive entertainment, and easier ways to access games, the future of the mobile video game industry looks bright. Also, not to mention the expanding demographics of gamers. Therefore, the mobile industry will become an essential arena for revenue. That is why tech companies will try to leverage their present framework to get involved.
