The Intelligence from The Economist Space invaded: video games’ stunning growth
Apr 7, 2023
Tom Wainwright, The Economist’s tech and media editor, dives into the explosive growth of the gaming industry, surpassing global cinema revenue. He discusses the shift in gamer demographics and the rise of esports, emphasizing its cultural significance worldwide. Amid relentless violence in Ukraine, Wainwright reconnects with Dmytro, revealing the emotional struggles of life in a war zone and how it reshapes national identity. He also explores the potential of gaming to influence the metaverse and the broader cultural landscape.
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Gaming's Economic Impact
- The gaming industry's value now surpasses that of cinema box offices, video streaming, and the music business.
- This growth raises questions about gaming's societal impact as it rivals television as a primary entertainment medium.
Gaming's Expanding Demographics
- Gaming has become a universal medium enjoyed by about two-thirds of people in the rich world.
- Unlike its earlier image, gaming's demographics have broadened, with a significant portion of players being women and older adults.
Streaming's Impact on Gaming
- Streaming is expected to impact gaming like it transformed music and video, with platforms offering subscriptions.
- However, the technical demands of streaming games pose a challenge, with performance issues affecting dedicated gamers.