The cost savings alone justify making investments in streaming technologies. By moving the console to the cloud, games can be played on basically anything with a screen: a TV with a streaming stick, mobile phone, low-powered laptop, etc. Additionally, mobile game streaming eliminates the need for a PC or a Console to stream the game content and hence provides a cost-efficient way for gamers and viewers to connect and interact. (CNN)Īccess via streaming platform: A major reason for the growth of the gaming industry is the ability to form social communities where gamers can interact within their groups as well as connect with the audience via streaming platforms such as Twitch, Mixer, YouTube, etc. The success of such models is evidenced by the revenues of Fortnite which stood at USD 1.8 billion in 2019. Some of the most popular games by revenue such as Dota, Fortnite, PubG, Free Fire etc., are free-to-play and also provide the options to make in-game purchases. This is particularly useful as gamers, ideally, like to test out a game before making a purchase and hence free-to-play games have become increasingly popular in terms of consumer spending. Along with this the device used and other hardware can be modified or upgraded to suit the preferences of the gamer. But this has completely changed in today's landscape where game developers offer several games that are free to play (FTP) with the option to make in-app-purchases. Key factor contributing to quick adoption of online gamingĬonsumer spending: in the past, spending on video games happened when a consumer purchased a specific game or a new device (Console/PC). Gaming Offers the Most Cost-Effective Form of Entertainment – It is Free!!! This tremendous increase will be predominantly driven by the proclivity of the Indian population to adopt gaming as their primary source of entertainment. The gaming industry in India was nearly 25% of the Indian film industry in 2016, but by 2023, it is expected to exceed the Bollywood revenues by USD 0.8 billion and reach a value of USD 3.5 billion. The Indian Bollywood film industry was valued at USD 2 billion in 2016 and is projected to reach a size of USD 2.7 billion by 2023.
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