DUBAI, 01 Sept. - (ANA) - The video game market generates more money than cinema box office and TV streaming combined.

 

Global revenue from video games is expected to climb by 6 per cent annually to reach $257 billion by 2028, taking revenue share from other media types, according to new research by Bain & Company.

 

The global video game market reached $196 billion in 2023, generating more revenue than streaming and box-office sales combined.

 

For its inaugural Gaming Report, Bain surveyed more than 5,000 consumers across six countries, including the UAE, Brazil, Indonesia, Japan, the UK, and the US to learn more about the habits and expectations of gamers worldwide.

 

 

 

 

Daniel Hong, leader of Bain’s global Media & Entertainment practice, said: “We’re seeing a surge in global video game audiences, driven by young people who are spending more time on games and less time on video and other media.

 

“Players say they want more immersive games and more interoperability across devices and platforms. They’re also spending more time in game environments, socialising, shopping, and consuming other media”.

 

Of the people Bain surveyed, more than half (52 per cent) said they play games on a regular basis. Younger consumers spend a greater share of their entertainment budget on video games when compared to older players.   - (ANA) -

 

 

AB/ANA/01 September 2024 - - -