When The Whole World Is In Quarantine, How The Gaming Industry Is Making Benefit Out Of It
The COVID-19 pandemic has left every economic sector finding a way to get back. But, one sector that is booming amidst the crisis is the gaming industry.
Yes, the gaming industry is booming. With people confined to their homes, most are taking to video gaming to spend the time. This has helped the gaming industry to benefit while most other sectors are facing an uncertain future.
An Uptick in Video Gaming Usage
There is a reason behind the sudden interest among people in video games. When the whole outdoor entertainment industry is locked down, people are seeking normalcy during these uncertain times through indoor entertainment, and video gaming came to the fore. Throughout the world, there is a spurt in video game usage.
According to Verizon, in the US alone, there is a 75% increase in video game usage. In Italy, much of the 70% increase in internet traffic is directed to Fortnite. Game streaming company Steam has reported that it had reached its highest users yet of 20.3 million.
Gaming companies are quick to respond to the demand. They have been ingenious at making available their existing hit video games across the world using gaming translation and gaming localization. The impact of this for the industry is rising revenues.
Yes, there are many free to play gaming content. But, even in these tough times, gamers are spending huge amounts on in-game purchases. According to a report, Tencent’s Honor of Kings, a popular game in China, has raked in RMB 2 billion since the lockdown began in China. This is the case for the gaming industry across the world.
Though, many would have thought that the gaming industry too would suffer due to the travel bans and work restrictions. But, the industry found a way to overcome the challenge. Gaming companies have arranged for employees to work from home. The flexibility has kept the game updation and maintenance work going without hampering the gaming experience.
Halt To Production
One aspect of the gaming industry that has been challenged by the coronavirus is the production process. No new games have gone through the production process amidst the lockdown. It will be a while until we see new games coming out. But, the current demand is more than making up for any losses the industry could face by not launching new games.
Yet, some companies which have launch dates for new games that fall during the lockdown have launched them anyway via live streaming. It only shows that the industry is not backing down and is capitalizing on the demand.
Socializing During Non-Social Times
Whatsmore, gaming is not just letting people pass their time. It is also helping people to socialize during these non-social times. Friendships are being forged online while playing the games, and people are interacting more. The socializing role has been taken up by multiplayer role-playing games, which provide an open world for gamers to interact.
The gaming industry is one of the biggest benefiter of the current crisis. Companies are not shying away from pushing their games to reach a maximum number of people. They are relying heavily on digital marketing. And hence, the gaming industry is reaping rich dividends capitalizing on the boredom the pandemic has brought.