Yours truly's not a gamer though the graphics in said games is truly stellar with raytracubg now becoming ubiquitous in order for games to become photorealistic. The size of the industry's much bigger than Hollywood and the impact on society's truly immense but the game (pardons the pun) has changed as seen by an insightful Tech Radar article.
To whit ...
Microsoft's proposed takeover of Activision Blizzard is currently the black hole that is, if not all-consuming, at least altering the reality of other news in the gaming space. The event horizon that's affecting all else. Even if a news story is unrelated, its specter looms.
It feels like something has changed. The way the industry worked, the size of all the players, the divisions, the interplay between major publishers and console manufacturers, it was all reliable. Predictable.
The conversations that were had were cyclical because as much as time went on and releases came and went, the players on the board had remained in their relative positions this side of the century.
After Tuesday, it doesn't feel like that anymore. The conversation has become way bigger. These aren't just considerations about consoles or game releases, but more about companies who are trying to shape the way we experience our world.
To get a sense of perspective regarding gaming market size, here's the revenue breakdown in 2020.
The gaming industry is now number 2 on the market but still behind the television industry, clearly number 1, mainly due to its immense advertising revenues. However, experts predict that in the future, advertising budgets will be shifted more and more to the Internet (already over 50% of all advertising revenues) at the expense of television. (Source: statista.com)
As seen per the chart, Movies = $455b while Video games = $1603b.
By 2024, the breakdown goes like this ...
According to forecast data evaluating the state of the global advertising market, in 2021, magazine advertising expenditures accounted for 2.54 percent of total media ad spending that year. Internet held nearly 59 percent of all ad expenditures in 2021.
Fast forward three years and the divide between TV and internet advertising deepens. By the end of 2024 over 65 percent of global advertising spending is expected to fall to internet ads, while TV's share is projected t fall to 21 percent.
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