It isn’t news that the games industry is now much bigger than the recorded music industry, and rather than that getting us down, it should fuel our excitement about the potential collaborations between the two industries.
Some new figures on exactly how big the games market is are out this week from research firm SuperData. Its headline figure is $139.9bn for ‘games and interactive media’, which breaks down into $126.6bn for digital games; $9.3bn for gaming video content; and $6.7bn for virtual and augmented reality.
In its summary of the report, SuperData broke down the key trends, which are a continuation of previous years.
Free-to-play games accounted for 78% of games revenues thanks to their in-app purchases, while mobile gaming is now 58% of the total games market (fuelled by those free-to-play games in particular). Also interesting: ‘premium’ (i.e. pay up front) games grew their revenues by 28% year-on-year, outpacing the growth of free-to-play games (9%) albeit from a smaller base. SuperData also thinks that the audience for gaming videos grew to 1.2 billion people in 2020.