Online Gaming Business: The Gaming industry is one of the ever-growing industries. Last year in 2019, it saw total revenue of $68.5B by the year-end. This was higher than the combined revenue generated by the close cousin industries viz. Streaming at $ 42.6 B and online music $11 billion. The revenue is set to grow to $76.7 B in 2020. Every technology company is ensuring that they have a segment in this ever-growing industry.
Facebook recently launched the Facebook Gaming App for Android users. It has already got 5M + downloads and growing every day. Facebook is now in direct competition with Twitch and YouTube owned by Amazon and Google respectively. Paytm has also entered into the gaming segment and in fact, has seen great traction. It grew 200% last month! With two recent Tech giants stepping into the gaming industry one will certainly start thinking if gaming in the new way of entertainment for the new decade that just started. Here are a few reasons why a lot of experts believe that it is:
- Involvement: Games require active participation from the users unlike the streaming segment, where people are only passively involved.
- Ease of marketing: Businesses grow when they have a strong marketing channel. For the gaming industry, this is a boon. If the game is interesting, people start talking about it with their friends and family and peer groups.
- Stress reliever: Games are believed to be one of the most popular ways of relieving stress. Everyone is under one or the other kind of stress and everyone would like to ease off some time.
- 5G is here to make it even more interesting: With internet speeds and quality being increased, the quality of graphics and visuals for gaming is also rapidly increasing. This drives more people to use the service
So how can you ensure your profit out of this? Here are multiple ways of using this to your advantage:
For Tech Companies: If you are a technology company, try to deploy a few resources to develop some interesting games. You might even make it to the top of the list by the end of the year if you have the quality and client retention factors catered to. You can also expect a potential buyout from the tech giants also if you have made something really fun! A few factors that you can consider while developing a game would be:
Factors To Consider while Developing a Game – Online Gaming Business
- Type of game: Always make sure you develop a game in the segment in which there is a balance between competition and the interest of gamers. A misbalance of either can kill your game every easily.
- Graphics: If you are developing a game, one of the most crucial factors would be the graphics being used. Ensure that it is up to the mark and can be used by the maximum of the users.
- user friendly: The whole idea of developing a game is to ensure that it makes the user happy! Ensure that you don’t mess with the features by using complex structures that would be confusing.
- For investors: Well, it certainly is one of the sectors you can explore to invest in 2020. With a lot of favourable factors that will certainly fuel the growth in the gaming industry, investing in gaming apps and companies seems like a logically correct choice.
For Gamers: Well gamers, you have nothing but joy to expect from this! You can expect a lot of interesting games coming up in the near future. The existing games will also bring in a lot of exciting features to ensure that you are hooked to the game and increase the time you spend on it.
We can conclude by saying that online gaming is certainly one of the growing forms of entertainment and is going to stay so for a good amount of time. There will be a lot of improvements made too. One can expect markets to be wrecked by the introduction of online games as well.