The Gaming Industry in the Post-pandemic World

The Gaming Industry in the Post-pandemic World

What’s in Store for the Post-pandemic Gaming Industry?

At the end of 2020, the gaming industry captured the world’s attention because of the reports of its revenue for the entire year. Several news sites reported that the industry made nearly $180 billion in 2020. Having a revenue this high meant that the gaming industry made more money than the movie and sports industries combined.

The thing is, though, were we really surprised by this? With the stay-at-home orders enforced by the authorities of the government, we were left with nothing much to keep up occupied. Thus, we turned to video games. When it was made clear that 2020 would be spent mostly at home, most of us were ready to buy the best gaming computers and other gaming consoles to keep up with everyone. Trends such as playing Animal Crossing on a Nintendo Switch rose. If we’re not one of the millions of people playing the game, then we’re getting left behind.

But with the staggering rise of the gaming industry, we can’t help but wonder what’s in store for it. Has it reached its peak in 2020? Or will it continue to rise in the post-pandemic world in the future?

The Comeback of Live eSports

The best thing about playing video games is that we can easily play them with our friends without ever stepping out of the house. All we need are an internet connection and whatever social media or live streaming platform that we’re using with our friends. Twitch, the leading live streaming platform for gamers, even garner around 140 million users every month.

But despite this, experts of the gaming industry predict that gamers will readily participate in live eSports again once things go back to normal in a post-pandemic world. This is based on a study conducted by the eSports Entry Advisory (EEA) and CSL International. The study found that 77 percent of gamers and eSports fans are excited to attend live, in-person eSports events when it’s safe.

What’s surprising about the findings, though, is that out of all of the survey responders who would love to attend live eSports events, only 17 percent of them have attended one before. This proves the growth of the gaming industry during the pandemic. They garnered more interest in the industry and eSports events.

In the study, the host venues and destinations for live eSports events also weighed in. Out of all the responders, 79 percent of them are interested in holding such events again after the pandemic.

Investments in Gaming Computers and Consoles

Truth be told, being an avid gamer is not the most cost-effective passion. It takes a lot of money to cover the costs of gaming computers and consoles. Not to mention, the actual video games themselves can be costly as well. But what gamers understand here is that such expensive devices are not just something to play with. They’re also investments.

This is why electronic retail stores, especially those dedicated to gaming, have been rising in the last few months. And it will continue to do so even after the pandemic ends. For one, Sony’s sales of the PlayStation 5 (PS5) continued to rise ever since its release. By early 2021, the company has reported that they’ve sold 4.5 million PS5 consoles over the holidays of the previous year. Today, avid gamers are even struggling to purchase the console. Big and small retail stores are selling their stock of it at a rapid speed.

Don’t get it wrong, though. Some electronic retail stores struggled during the pandemic. Because people opted to buy online, many brick-and-mortar stores struggled to keep their customers interested. One of them is GameStop.

But this store turned things around and has been making headlines lately. It’s been baffling Wall Street traders with its staggering rise in the stock market after months of struggle and sitting at the bottom of the stock-trading food chain. It’s no secret that gamers, especially those who are on Reddit, are the ones behind this rise. They’re urging each other to keep on buying GameStop stocks.

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Although this story about GameStop is still ongoing on the news, it shows that people are heavily invested in the retail stores that carry gaming computers, consoles, and accessories.

Even if people are now becoming more mobile outside of their houses, many still opt to stay at home with their video games. This shows that the gaming industry will adjust just fine in the post-pandemic world. It may have broken records in 2020 with its revenue. But that doesn’t mean that the industry peaked, and it’s all downhill from here.

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