The Gaming Market is Worth $60 Billion
The video game industry has racked up a fantastic 60 billion dollars
Despite the economic instability caused by the pandemic, the video game market seems to thrive and bloom. The industry has amassed $60 billion in 2021 alone, just in 6 months.
This phenomenal fortune isn’t generated by the popular releases only. The statistics also count the mergers, acquisitions, and other corporate mumbo-jumbo, which adds up to the total sum handsomely.
One of the most significant deals is the acquisition of Bethesda studio by Microsoft. The home of Fallout, Skyrim, and Doom Eternal was sold for $7.5 billion.
It’s the second large purchase made by the Xbox-maker since Minecraft. For comparison, Minecraft cost three times less.
The deal means that in the foreseeable future, Xbox fans will get all the Bethesda games cheaply via the Game Pass. It’s yet to be seen if the Elder Scrolls, Wallenstein series, or Dishonored will become Xbox-tied exclusives.
Another reason for this golden rain over the gaming industry is mobile games. The likes of Pokémon Go, Genshin Impact, Candy Crush, Honor of Kings, Garena Free Fire, and others are generating outlandish profits.
Pokémon Go alone has earned $5 billion during its 5-year existence. Other titles like Genshin Impact have crossed the $1 billion mark already.
Acquisitions and other deals are the leading segments: they are worth $47 billion in total. Another source of revenue is funding. In 2021 console and PC game studios received $1.9 billion, while mobile managed to harvest an $800 million bounty.
Hardware shouldn’t be ignored either. In 2021 PS5 sales reached a 17.5 million unit mark. And the recent reveal of the Steam Deck console by Valve caused a furor, which resulted in the pre-orders crashing the company’s servers.