This article discusses the untapped potential of the video game industry in the United States. Now a days, it seems that everyone plays some type of video game. In fact, video game sales last year totaled 21 billion. That's more than the movie and music industry combined. However, our video game market falls behind others. Countries in Asia and Europe have made gaming into a spectator sport. They sell out arenas and have large monetary rewards for professional gamers. Something Americans probably scoff at. However, video game experts believe that this is where the US is headed. Creating this mass market for video game tournaments and viewing can only benefit the economy. While watching people play FIFA or Call of Duty in a stadium doesn't appeal to me, or probably a lot of people, there seems to be a large market for it bringing us into the modern age of sports entertainment.
http://www.washingtonpost.com/business/video-games-are-getting-respect--as-big-business-entertainment-creative-discipline/2014/11/21/c7fd4e78-6f64-11e4-893f-86bd390a3340_story.html
I feel that the video gaming industry has the potential to become one of the most successful and lucrative industries in the near future. Corporations are already making huge money by sponsoring different gaming events and also buying some of the most attractive gaming sites out in the market. Not only the professionals, a lot of novice home-gamers are slowly getting interested to play in the big leagues and perhaps consider pro-gaming as one of their potential career paths in the future. However, for all these to take place, promotion and various advertising strategies have to be implemented more efficiently worldwide so that more people know about the industry, its events and its potential to become a huge market in the media and the tech world.
ReplyDeleteThe video game industry is huge, and I feel like taking advantage of the excessive amount of demand for video games, especially in America, is a very good economic move. It could really boost the economy, because the market is only growing at this point. And as seen in other countries, video games has it's own sort of culture, and a lot of opportunities can arise from that.
ReplyDeleteI agree that this may be something that has been underestimated but at the same time, it could be as a result of the stigma video games have. for examples some parents feel its necessary to limit the time and effort their children put into video games for the mere fact of being antisocial and even obese.
ReplyDeleteWith 21 billion in sales annually the video game industry is no small industry. I bet a good portion of those who are buying video games are more interested in them than not, to the extent that they would want to watch them played competitively. I also feel that those who are very involved in gaming are those who aren't too involved in sports spectating, and thus would probably prefer to watch video games played competitively instead. With websites like Justintv and Twitchtv watching people stream video games is becoming even more popular and the awareness of video game competitions is increasing as well.
ReplyDeleteIt's great that America see's the economic potential in the video game market. I believe it can be successful if we follow other successful countries market. There are a lot of people who rather play and watch video games than sports. It can be a small league amongst the big other ones(NBA, NFL, MLB etc..) However, there's always a downside to new things and it should be figured out and understood first.
ReplyDeleteI also believe the video game industry has the potential to become enormous within the next decade. Between 2009 and 2012, the industry grew over 9%–four times as much as the U.S. economy. Direct employment in the industry also rose from 31,598 in 2009 to 42,527 in 2011. These are just a few statistics that show the potential of the industry.
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