GAMIVO experienced a significant increase in sales, an increase in the number of active players, and a substantial revenue spike during the global Covid-19 pandemic
SLIEMA, Malta, June 11, 2021 /PRNewswire/ -- The gaming industry suffered from the effects of the COVID-19 pandemic in 2020, while the videogame industry is expected to show double-digit growth in 2021 following phenomenal growth in the past two years. The COVID-19 pandemic will continue to influence gamers' lives, increasing their video gameplay levels to stay connected and entertained during these difficult times. Although the pandemic has not resulted in substantial new video game consumers, it has significantly boosted the amount that existing video game consumers play. Active players say increased gaming has helped them achieve increased emotional and mental health during confusing and often frustrating stay-at-home measures.
Games also help parents find common ground with their kids while assisting them in spending time connecting. Sixty percent of mature gamers and 75% of adolescent gamers reported playing more video games during the pandemic. Sixty-five percent of adult gamers and 78% of teenage gamers find that gaming while supporting stay-at-home health measures makes them feel better. Seventy percent of young gamers reported using online video games to stay connected while isolating themselves at home. Sixty-five percent of adult gamers with young children reported playing video games with their children, and almost half of this group reported playing more often during COVID-19. Gamers also identified video games as a means of helping family and friends stay bonded and connected throughout the pandemic.
COVID-19 lockdowns are expected to support global gaming sales rise 20%, and growth shows no signs of slowing since the release of next-gen PlayStation and Xbox consoles. Videogames have transformed to look a lot like competition-based, interactive movies. The COVID-19 pandemic has helped the gaming industry make more money than the film industry and the North American sports industry combined. Moreover, GAMIVO.com has seen sales soar in recent years because of the variety of ways active players can game, which include but are not limited to: Mobile games, Digital copy games, In-app purchase (freemium) games, Cross-platform games—not limited to a specific console, Streaming game services, Games-as-a-subscription models, and Online distribution services. While console sales will boost new versions, that is not the most significant chunk of the industry, nor the fastest growing. And the largest gain is still yet to be realized.
The greatest gain is expected to come from mobile gaming, with China playing a significant role in smartphone and tablet gaming revenue. Worldwide mobile gaming revenues, excluding in-game ad revenue, are anticipated to surge in the months and years ahead. Mobile game revenue is expected to widenprimarily due to its already significant lead over the console and PC-based games; this shift marks a consumer economic consideration. Unlike dedicated gaming consoles, mobile phones and tablets are more accessible, a necessity, and cheaper, all things considered. Somewhere between the console and the smart device usage stands PC gamers since their play requires a multifunctional device that's more commonplace than consoles but less widespread than smartphones. Mobile Will Lead the Industry The gaming industry's console and PC platforms face an interesting challenge of increasing the amount of money spent per customer. These companies should take cues from mobile, which now accounts for most industry revenue. The mobile device population is enormous, much larger than the console device population.
Many gamers may be happy only playing on their mobile device of choice. All the high-revenue video games in the mobile market either launched on mobile or were exclusive to the platform-surpassed $1 billion in revenue to date. So, as stated earlier, GAMIVO.com has seen a significant positive impact on its revenues during the COVID-19 pandemic.These games allow people to spend virtual currency to progress quickly or get additional assets in the game, thus creating a race between players to spend money to one-up someone else, and then that person spends some money to battle back. The most competitive players want to win; this is the 'why' they spend more and more money. There is a willingness because players are having a lot of fun, but they achieve social status more than that.GAMIVO.com transacts the buying of game CD keys and activation codes for Steam, Origin, Uplay etc., so gaming enthusiasts can easily access the best gaming deals and discounts online; this service has proven to be very profitable and will continue to grow.
Playing in the Cloud is the hottest growth area, even before the pandemic, was and still is cloud-based services. Internet giants like Google, Amazon, Tencent, and Microsoft understand the infrastructure and streaming needs. Sony and Microsoft both have extensive catalogues of first-party IP and third-party games. There have been reports that Microsoft and Sony were reaching a strategic agreement. We might see Sony and Microsoft organize their back catalogues and new releases under one umbrella, becoming a convenient monthly subscription service where active players can access a collection of games, similar to how Netflix operates. A subscription service is an exciting development for the game industry because Google, Amazon, and Tencent can focus on infrastructure and innovations that can grant them a piece of the value chain, such as payments or fraud detection. But in the next few years, we could see much larger acquisitions than we have ever seen in the gaming industry's history. The free-to-play model will increase.
There is a chance for free-to-play (F2P) video games – games that give players access to large portions of their content without paying – to become more solidly established as the leading marketing message for customer adoption. It is the standard in mobile, but it is gradually creeping into the PC and console world. There are increasingly more cross-platform games with a free-to-play model. Free-to-play with the virtual goods economy will boost the industry to double and possibly triple in size. The pandemic, in a way, created an environment for all the right things to happen to accelerate the industry. New console releases drive the industry.The benefit from new console releases is primarily felt in the U.S. and Canada. Video game spending rose sharply, while hardware sales, software, and accessory sales all climbed significantly. Console gains were more pronounced in late 2020 when Sony's PlayStation 5 and Microsoft's new Xbox line were released along with some long-awaited game titles.Since the beginning of the COVID-19 global pandemic, GAMIVO.com has witnessed an upswing in customer transactions resulting in a positive increase in revenue, which will most likely continue to grow throughout 2021 pandemic continues to change how people interact and play.
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