The gaming industry is one of the fastest-growing entertainment sectors on the planet. According to a recent report by GamingScan, the global video games market is expected to generate $164.1 billion in revenue by the end of 2020. Today, video games are more mainstream than films and music. Read on to know why the games industry is now five times larger than the music industry and 1.5 times larger than the music industry.
The digital shift has been very disruptive for films and music
While the shift from physical to digital has been very disruptive for films and music in the past decade, the video games market continues to grow as the result of this shift. Majority of games for PC are purchased in the form of digital downloads and mobile games offered by online casinos, such as Omnia GB are purely digital. However, this digital shift has resulted in the loss of physical sales for film studios and music labels. The internet has allowed games to reach an even-larger audience and has helped developers and publishers increase their revenue dramatically.
Recent technological advances are contributing to deliver seamless gaming experience. Also, improved latency and better frame rate per second offer immersive gaming experience. As you can control the characters in games as compared to films, the past decade has seen exponential growth in the popularity of video games.
Although some people feel that the music and film industry have a dark future ahead, it is not completely true. The digital world has created some incredible opportunities for musicians and filmmakers to create engaging content and generate revenues in ways that were never before possible.
Video games create multiple outcomes that are unique
The synchronization industry has seen steady growth over the past few years as a result of the arrival of new media. If the games market shows the signs of rapid growth in the coming years, it will provide opportunities for more musicians to create music for video games. Also, video games provide a sense of involvement and satisfaction for teenagers and adults. For instance, you can control the next actions in a video game – creating multiple outcomes so that every watch is unique.
This can be applied for music too. With the help of virtual and augmented reality, concerts and music releases could become interactive. Fans can vote for the next song or they can ask questions to the artist or band live on stage. Some musicians have already tried this by releasing audio files as a part of their album package. This has allowed people to create their own version of music and upload on websites where fans could also suggest their own ideas.
E-sports and mobile gaming
Another reason for the increasing popularity of video games is the recent diversification of video games. The rise of e-sports has turned gaming into a spectator sport and has brought in revenues from all attached businesses. With several college and high school students forming e-sports teams, the concept of e-sports has integrated gaming into various lifestyles.
