Friday, January 22, 2021

Gaming consoles revenue is expected to be $45 billion this year

- Advertisement -
- Advertisement -

The gaming industry has been changed a lot since 1980 as today more than 700 million people play video games by using different consoles and it is expected that the gaming industry will generate $45 billion in revenue only from consoles this year.

The new consoles are on sale from Sony and Microsoft and both companies are now focusing more on software and subscriptions. Apple is also following the footsteps and investing heavily in the gaming industry.

The Coronavirus pandemic forced people to sit at home which results in more subscribers for the games and record number of gaming consoles were sold in recent months. But the only pandemic is not the thing which changes the gaming industry.

According to the experts its now hardware which is now making a profit for firms like Microsoft, Sony and Nintendo than a decade ago. The software was always a profitable business in the gaming industry.

The digitalization has resulted in bigger profit margins for the game distributions. The downloading games from internet giving companies as much as $45 profit per game as compared to $35 on a $60 game in a store. This also has increased the subscriptions for gaming consoleslike Sony selling their first-party games digitally.

Microsoft and Sony selling digital-only versions of their new consoles at lower prices and other big players Sony and Nintendo have reported the highest numbers of digital downloads this current year

Now gaming companies are making their software compatible with all their devices such as Microsoft is investing heavily on building out its player base across a range of different devices, including its Xbox consoles, Windows PCs and smartphones.

Microsoft’s corporate vice president of gaming ecosystem Sarah Bond said that the company think that the console will always remain the core unit of gaming because what it does is it effectively gives someone the flagship experience.

- Advertisement -

Latest news

Travelers Companies (TRV) Rose While United Airlines (UAL) Fell After Quarterly Results

On Thursday, The Travelers Companies Inc. (TRV) risen by +2.55% to $148.72. The U.S. insurer posted better-than-expected quarterly earnings, helping to reduce disaster-related expenses...
- Advertisement -

Oil Gaining Traction Upon Improving Global Scenarios, Gold Also Risen

Thanks to the latest US stimulus package, the continued recovery in China, and the increase of global vaccines in 2021, oil remains buoyed by...

What Makes Moderna Inc’s (MRNA) Vaccine Stand Out Among Others?

The latest test results for COVID-19, a vaccine manufactured by biotech company Moderna Inc. (MRNA), were announced late last year. The most important piece of...

Porch Group’s (PRCH) Stock Price Rises After It Expands

Porch Group Inc (NASDAQ: PRCH) is a provider of IT services for the real estate industry. The Company acquired Homeowners of America, expanding its...

Related news

Travelers Companies (TRV) Rose While United Airlines (UAL) Fell After Quarterly Results

On Thursday, The Travelers Companies Inc. (TRV) risen by +2.55% to $148.72. The U.S. insurer posted better-than-expected quarterly earnings, helping to reduce disaster-related expenses...

Oil Gaining Traction Upon Improving Global Scenarios, Gold Also Risen

Thanks to the latest US stimulus package, the continued recovery in China, and the increase of global vaccines in 2021, oil remains buoyed by...

What Makes Moderna Inc’s (MRNA) Vaccine Stand Out Among Others?

The latest test results for COVID-19, a vaccine manufactured by biotech company Moderna Inc. (MRNA), were announced late last year. The most important piece of...

Porch Group’s (PRCH) Stock Price Rises After It Expands

Porch Group Inc (NASDAQ: PRCH) is a provider of IT services for the real estate industry. The Company acquired Homeowners of America, expanding its...
- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here