Report: Global video game revenue shrinks in 2022, snapping growth streak

  • 📰 axios
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 63%

United States Headlines News

United States Latest News,United States Headlines

Report: Video game revenue shrinks in 2022, snapping growth streak

More people in the world will play video games this year than ever before, but the amount of money spent on gaming will decline, according to aAfter video games boomed during the first two years of the pandemic, Newzoo calls this the first drop in revenue since it began tracking the industry more than a decade ago.$184.4 billion in revenue The research firm says mobile gaming, which constitutes half of the global market, is the “primary driver” of the unusual revenue decline.

The mobile drop more than offsets slight growth in PC gaming and a smaller dip in console gaming, where the pandemic has wreaked havoc with development schedules and hardware supply.for the dip in mobile, including the easing of pandemic lockdowns giving people more spending options, as well as inflation pressure spooking people from spending.for $12.

And the market overall is expected to grow again soon, reaching 3.5 billion players and generating $211 billion by 2025.Newzoo calls 2022 a “a corrective year for the games market following two years of lockdown-fueled growth.

Source: Gaming Daily Report (gamingdailyreport.net)

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

You should play Wordle today! Once you play, you'll understand why. Wordle 520 4/6* 🟩⬜🟩⬜⬜ 🟩⬜🟩⬜⬜ 🟩⬜🟩⬜⬜ 🟩🟩🟩🟩🟩

Are people actually out there touching grass?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 302. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

‘Black Panther: Wakanda Forever’ Pushes Disney Past $3 Billion at the 2022 Global Box OfficeBlackPantherWakandaForever pushes Disney past $3 Billion at the 2022 global box office.
Source: Collider - 🏆 1. / 98 Read more »

Black Panther 2 Sends Disney's 2022 Global Box Office Past $3 BillionBox office earnings from Black Panther: Wakanda Forever helped Disney earn over $3 billion from all the films they released in 2022. People are thirsty. Did you make sure to tell Disney your gender before you went to go see the movie? And they’re getting rid of 10,000 employees a week earlier? Pretty sad.
Source: screenrant - 🏆 7. / 94 Read more »

TikTok’s Discover List 2022: Meet 50 Creators Who Are Making a Global Impact (EXCLUSIVE)TikTok’s second annual Discover List is here. This year, the app is spotlighting global creators who are making a positive impact, both on and off the platform. Divided into five categories &…
Source: Variety - 🏆 108. / 63 Read more »

Global Luxury Goods Market Seen Growing 21% in 2022 to 1.4 Trillion EurosAccording to the latest Bain & Company Study with Altagamma, the segment will continue to expand until 2030 despite the global economic and political uncertainties.
Source: wwd - 🏆 24. / 68 Read more »

F1 2022 Brazilian GP race report: 7 things we learnt in Interlagos
Source: CARmagazine - 🏆 382. / 55 Read more »

Three UK releases its financial report for Q3 2022The carrier's total revenue has grown by 7% compared to Q3 2021
Source: PhoneArena - 🏆 322. / 59 Read more »