It’s no secret that online gaming is growing.
The industry is now worth hundreds of billions of dollars every year (an estimated $196 billion in 2022). That makes it an excellent opportunity for investors. This guide will look at some of the fastest-growing trends in online gaming.
Free base games
Free base games are those that are completely free to download. Gamers can access the basic features of a game – like Call of Duty Warzone and Fortnite – without having to pay anything. However, once the player is hooked on the game, there are all sorts of in-game purchases that enhance the playability. This business model is based on the idea that some gamers will spend considerably more than the average price of a game, therefore making up for the gamers who play for free. If the game is good enough and gets the right sort of traction, one game can make hundreds of millions of dollars in profits.
A couple of decades ago, becoming a professional gamer was just a pipe-dream. Getting paid to sit in a chair and play video games all day is the perfect job for a lot of people. And now it has become a reality. Some gamers make enough money from competitions, others make a killing by streaming on Twitch or uploading videos on YouTube. The professional gaming industry is huge and is only going to get bigger.
Increased use of smartphones
As more people use their smartphones, the mobile gaming industry will continue to grow. Mobile gaming might not seem like it would be as profitable as the console-gaming industry, for example. But it’s actually overtaken both console and PC gaming in annual sales. Why? Because almost everyone has a smartphone, which means almost everyone can access mobile games.
A rise in e-sports
E-sports is a form of competition using video games. Any popular game that can be played competitively (which is most of them) will have its own competition. The prizes can mean big money for players and the events present excellent investment opportunities. E-sports might seem like a niche industry right now, but that is going to change in the coming years.
Responsible gaming is something that is being pushed by the online gambling industry. New USA online casinos need a proper gambling license and are closely monitored by regulators. However, this trend is starting to grow in the wider online gaming community. Protecting young gamers from predatory behavior online, regulating in-game purchasing, and other areas will become more important as online gaming continues to grow.
For the uninitiated, the idea of watching someone else play video games for hours on end probably sounds really dull. However, for young gamers, it’s an extremely popular pastime. Streaming stars make millions in revenue and their fans consume any content they put out. This industry will rise alongside online gaming because streamers are becoming the entertainment side of the business. In fact, lots of young gamers could name 10 streamers before they could name 10 Hollywood celebrities.
Disclaimer: This content does not necessarily represent the views of IWB.