Video Games are World's Biggest Entertainment Medium, Take-Two Reports
Take-Two's financial report included a lot of interesting information about the overall health of the video game market and the directions of its development.
Take-Two Interactive released its financial results report. Yesterday we wrote about the revenues and numbers concerning specific games. However, the document also contains other interesting information about the overall health of the industry.
The gaming market boasts staggering revenues
The numbers in the report are based on data collected by analyst groups IDG Consulting, ESA, Newzoo, Streamlabs and Stream Hatchet.
- Video games are by far the largest entertainment industry.
- In 2021, games, microtransactions and services generated $221 billion in revenue.
- This year, that total is expected to grow to $235 billion, and the forecast for 2026 is $282 billion.
- Analysts expect the gaming industry's revenue to grow by an average of 5% annually.
It should be added that these impressive numbers include only games, microtransactions and services. They do not include hardware sales, so in reality this industry is even bigger.
The number of gamers in the world, their age, the growth of streaming and other interesting data from the Take-Two's report
There were some other interesting numbers in the report as well.
- In 2021, 3 billion people worldwide will be playing video games.
- The average age of a gamer is 31.
- In the past year, viewers of Twitch, YouTube Gaming and Facebook Gaming watched an average of 653 million hours of game streaming per week.
- Gaming streams were watched by 729 million people in 2021, up 10% from 2020.
- Mobile gaming is the largest part of the digital entertainment market. In 2021, smartphone and tablet games accounted for as much as $131 billion of the $221 billion in revenue generated.
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Take-Two increases employment in development studios
Finally, it is worth mentioning that the report reveals that at the end of March 2022 there were 6042 people employed in the developer studios owned by Take-Two Interactive. This compares to 5079 in 2021 and only 1808 in 2014.
