The report identifies ways publishers and developers can capture market share
LOS ANGELES, Oct. 13, 2022 /PRNewswire/ — Global revenue for games could grow by more than 50% over the next five years, according to new research by Bain & Company. Research shows that industry growth is being accelerated by heavy engagement of younger gamers (ages 13 to 17) who spend about 40% more time in video game environments than with any other form of media. Yet, the supply of top talent isn’t keeping pace with demand, an imbalance that is set to worsen as gaming studios lose developers to big technology firms. Bain is encouraging game developers and publishers to prioritize certain areas for success as gaming becomes a foundation for both media, and nonmedia, experiences.
“Though gamers have historically trended younger, our data suggests fewer gamers are aging out,” said Andre James, global head of Bain’s Media and Entertainment practice. “This shift in behavior brings challenges, as well as opportunities, for game developers and publishers who are faced with increasing consumer demands within virtual and nonvirtual environments. Our research shows that there are three trends that are changing the industry, as well as four areas gaming studios should prioritize to ensure success.”
Three Trends that are Changing Gaming
According to Bain, the gaming industry has obtained more than $240 billion in investments just since 2019. Compared with slightly older gamers (18 to 34 years), younger gamers are more comfortable in virtual environments, and just over half of the ones surveyed by Bain say they prefer hanging out with friends in a game, rather than in person. Bain says there are three industry trends that are contributing to these changes:
Meeting Rising Expectations By Investors and Consumers
To make the most of the above trends, Bain is encouraging game developers and publishers to pay close attention to four areas that will differentiate future winners within the industry. These areas include:
“This is the moment for game companies to bet big and advance to the next level,” said Anders Christofferson, partner within Bain’s Media and Entertainment practice. “Developers and publishers will need to sharpen their focus if they want to continue to thrive in an environment that’s becoming a greater part of our daily lives.”
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