Impact of Game Industry in Business Today

Game Industry

Game industry was established in 1970s when Atari introduced arcade video games and it has successful grab the people attention because it can become a leisure activity and also a fun way to pass the time. Besides that, after Apple released the first iPhone in 2007, the mobile gaming segment was born. On the other hand, video games have established a permanent role in the entertainment industry, it also influencing and growing faster than the TV, music, movies, and book publishing business because of the technological advancement and digitization (Santasarkka, 2017). Moreover, nowadays video games are enjoyed by many people in worldwide and it also like become a permanent part of our daily life.

The Impact in Business Today

Game industry have more to offer than just entertainment as it also can help to earn the revenue as well as help to grow up the business. In recent years, video game industry has already become a powerhouse and have the ability to influence the business today. As game industry are be keen on many people in worldwide, no matter is male or female. Hence, it proved that game industry can help to grow up the business and bring a lot of benefit to the business. For example, according to the Entertainment Software Association (ESA) and The NPD Group, they have state out the video game industry has generated a record $36 billion in revenue in 2017, up 18 percent from 2016 (ESA Entertainment Software Association., 2018). Thus, through the game industry result in 2018 compare to 2017, it has shown the growing of game industry and the affecting a broad range of businesses.

Statistic provided by the Entertainment Software Association (ESA) and The NPD Group

Besides that, game industry also provides a lot of business opportunity. As the advertising in eSports is growing, thus when the other company are advertisers or sponsors in the game industry such as eSports or competitive online gaming. It can help them grab the attention by the viewers and fans. As nowadays, there are a lot of audiences and fans are very followed with interest in the aspect of game. For example, Red Bull and Mountain Dew have sponsor the gamers. By doing this, it can help to propaganda their company and also let more people know about their brand. As the gamer fan can be just about anyone. Thus, it is an opportunity be a part of a relevant, growing market beyond advertising (Boost Labs, 2018).

On the other hand, from the employment aspect, while other industries have been cutting back their payrolls, but there is a hiring boom going on in the video game world. Since 2005, there have increased by nearly 9% annually in the total number of people working in games industry (Morris, 2010). Hence, game industry also provided the job opportunity to people.

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References

Boost Labs, 2018. Your Business Can Benefit From Video Games. [Online] Available at: http://www.boostlabs.com/your-business-can-benefit-from-video-games/ [Accessed 21 November 2018].

ESA Entertainment Software Association., 2018. US Video Game Industry Revenue Reaches $36 Billion in 2017. [Online] Available at: http://www.theesa.com/article/us-video-game-industry-revenue-reaches-36-billion-2017/ [Accessed 20 November 2018].

Morris, C., 2010. Video Games Impact the Economy More Than You Think. [Online] Available at: https://www.cnbc.com/id/38644484 [Accessed 20 November 2018].

Santasarkka, S., 2017. The Digital Games Industry and its Direct and Indirect Impact on the Economy. Case study: Supercell and Finland.. [Online] Available at: https://www.theseus.fi/bitstream/handle/10024/128453/Santasarkka_thesis.pdf?sequence=1 [Accessed 20 November 2018].