Financial statements from the end of 2020 indicate that despite a tumultuous year for some industries, gaming has been a silver lining for the economy. Mobile gaming apps, for example, saw a spending increase of 27% in 2019. Given the success of gaming, the slate of exciting new releases, and the salvation they have provided, will our gaming budgets continue to increase in 2021?
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Gaming has had a fairly successful year given the circumstances. It’s proven its versatility and adaptability. Spending on consoles in the US rose by 25% in the first half of 2020. The circumstances aren’t the only aspect of the recipe that led to this – both market leaders have launched new consoles, eagerly anticipated games, and even introduced some elements of their back catalogue to play. Being able to game on other devices with cloud gaming has also opened up the gaming audience as some players can engage with console games on other devices.
Perhaps most interestingly, Roblox – the site that allows people to program their own games – also saw an increase in spending. This shows a new direction for the industry. As gaming proved to be a salve to turbulent events, people delved deeper into their hobby. Not only did they create games, but they played other games that people had created, showing the increased accessibility of the industry. Consumer spending on Roblox increased by around 40%, which shows people’s gaming budgets have expanded to creating games to play as well.
Competition in different aspects of the gaming and entertainment industry also tells us how competitive the field may grow in the next year. For example, as the list of the top 10 online casinos shows, each one focuses on their credentials as to why players should join up. Some cite the expansive number of games, which are upwards of 1,000 in some cases. Others focus on the welcome bonuses that players can expect to take advantage of. The focus on how customers could benefit shows that the industry aims to appeal to new customers. One of the big players in the game that offers a lot of advantages to their customers are the trustworthy site CasinoTopsOnline.com; they offer a look on some of the most popular portals out there, and even grants you a welcome bonus or something else to start out with.
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Those who previously were uninterested in gaming may also have started playing in some form or another. Mobile gaming, for instance, makes it easier to get into gaming with only an app download necessary. Hyper casual, fast-paced games are easy to pick up and many are designed to allow completely new players to dip their toe into gaming.
As spending is set to rise in 2021, Sony is in a suitable position to have launched their PlayStation 5. The console price may have seemed steep in previous years but given how much value gaming has added to many peoples’ lives, it seems a fair price to pay. With money saved in some cases from cancelled events, many people are upgrading their own entertainment systems inside.
Personal gaming budgets were strong during the Christmas 2020 period, which indicates they may continue on this trajectory into 2021. As more people engage with and spend in the gaming sphere, developers will be able to make gaming experiences even better. Ultimately, gaming has proven itself of value to the consumer, so there should be no reason why this spending trend falls.