How did video games beat all other media in 20 years? But since then, the video game industry has grown exponentially. Today more than 3 billion people in the world play video games.
This figure will increase by 10% by 2024. This increase is notably boosted by the booming online games, with projections that they will reach over 2 billion players by 2025.
This popularity is expressed by a boom in video game revenues. In the United States alone, the 227 million players spent $60.4 billion in 2021, an 8% increase over the previous year.
All Free-to-play games account for 85% of all digital game industry revenues,and have become the leading segment in the industry since 2018.
This free-to-play trend started with mobile gamesand the rise of smartphones. Allowing direct access to an app store and a myriad of free games.
Free-to-play games contrast with console or PC games, where players must purchase their games for a fixed price and/or pay subscriptions to play the games.
Soon, PC developers saw the success of free-to-play games and adapted to this model seeing its potential.
Over the years, the buzz around free games, such as League of Legends, Fortnite, Lost Ark, Fortnite. In 2022, even the multiplayer mode of the new Call of Duty, a game known for its high price, went free-to-play.
If you want an example of a true success story, let's look at Fortnite. This successful game has generated more than $5.8 billion in 2021 even if it is free! That's crazy! In addition, it has a huge influence on culture, having collaborations with artists, brands or even other video games; this type of game is clearly the future!
We can also observe several cultural and societal changes due to the increase in popularity of video games, which lead to transmedia adaptations that are more and more expected and of better quality.
For example, the series Arcane which is a streaming series on Netflix won a Primetime Emmy Award for Best Animated Program and an Annie Award for Best Animated Production.
The Last of Us, starring Pedro Pascal and Bella Ramsey, is so successful right now that even gamespot says "The Last of Us on HBO marks the beginning of a new era for live action video game adaptations.” This is a big change from adaptations like the old Dungeons & Dragons movies that are known to be bad!
In conclusion, video games have experienced remarkable growth over the past 20 years, with a steadily increasing global player base and an industry that is expected to be worth $200 billion by 2023. In addition, we see that video games have more and more influence on other media, and we can't wait to see what will happen in the future!