Global Online Game Market Revenue For 2022 Expected To Exceed $196 Billion
FinancialNewsMedia.com News Commentary
PALM BEACH, Fla., Sept. 20, 2022 /PRNewswire/ -- A massively multiplayer online role-playing game (MMORPG) is a type of video game that people play on the internet. Gamers use their avatars to act out a character in a virtual world, and they work together with other players to complete quests and explore the game world. The MMO part of the term means that large numbers of players can be logged into a single game world at once; the RPG part means that you play as an avatar and go on quests — just like in real life. MMORPGs are often set in fantasy worlds, like World of Warcraft (WOW), but they can also be placed in realistic versions of the real world. The MMORPG is one of the most popular game genres. It's an essential cornerstone of online gaming and multiplayer games, primarily due to the incredibly immersive and powerful gameplay experiences that they provide. One of the most important distinctions in an MMORPG is that you play with other groups of players in real-time. Since there are so many players in the game at any given moment, the game world can be very diverse and immersive. A report from Gamingscan.com said that the global game market revenue for 2021 was $178.2 billion. For 2022, that number is projected to go up to $196 billion. While the market has been on a constant rise since 1997, the increase in revenue is significantly higher in the past seven years, likely due to improvements in technology and a report from GMI Research said that MMORPG Gaming Market is projected to grow at a 10.5% CAGR through 2027. Active Gaming Companies in the markets today include: Good Gaming, Inc. (OTCQB: GMER), Roblox Corporation (NYSE: RBLX), Take-Two Interactive Software, Inc. (NASDAQ: TTWO), Activision Blizzard, Inc. (NASDAQ: ATVI), Skillz Inc. (NYSE: SKLZ).
Another report from GMI Research added that: "During the COVID-19 initial phase lockdown and social distancing norms, the global multiple online role-playing games were highly adopted by most of the teenage population across the globe, which has significantly impacted the MMORPG market a healthy note. Based on the device, mobile device segment is expected to grow at a higher CAGR in the global MMORPG market over the forecast period. This is due to the increasing number of smartphones across the world, which has contributed to the growth of the MMORPG market. According to GSMA, the adoption of the smartphone is expected to increase from 64% in 2019 to 81% in 2025. Tablets are estimated to drive the growth of the mobile device segment owing to advantages such as larger displays and better viewing experience."
Good Gaming, Inc. (OTCQB: GMER) BREAKING NEWS: Good Gaming Inc. Announces Official Launch Date of the MicroBuddies™ World Experience in Roblox - The company continues its entrance into interactive entertainment spaces while expanding MicroBuddies™ intellectual property across a vast demographic on a global scale - Good Gaming, Inc. (OTCQB: GMER) (the "Company"), an innovative brand creating unique interactive entertainment experiences across the gaming segment since 2008, today announced the official launch date for the integration of its MicroBuddies™ brand into Roblox (NYSE: RBLX). The Company continues to expand its MicroBuddies™ IP and develop additional revenue streams from some of the world's most popular mainstream online games.
The official launch date of MicroBuddies™ World is set for September 21, 2022. The MicroBuddies™ World experience in Roblox promises to reward players with a unique MicroBuddies™ themed virtual world experience designed to capture a player's imagination by immersing them in engaging quests, fun contests, and competitive games.
The MicroBuddies™ themed worlds will feature gaming arcades where people can win loot that will enhance gameplay and upgrade their Roblox avatars. Mining in-experience coins and GOO™ (MicroBuddies™' unique in-game currency) will enhance each player's avatar abilities within the games while adding personal style and visual flair.
The MicroBuddies™ in-experience store will also allow players to purchase upgrades and boosters for their player avatar and MicroBuddies™ that enhance their overall game-playing experience. Players will be able to win unique and rare items as they move up the player rankings, with the top 10 players for each world displayed in-game on worldwide leaderboards giving players the recognition they deserve.
Roblox is one of the world's most popular platforms for shared immersive experiences, with over 50 million daily active users amassing 30.6 billion hours of gameplay and over $1 Billion spent on virtual goods spanning over 180 countries since its inception in 2008. You can play Roblox virtually anywhere, from an Xbox to a cell phone, laptop, tablet, or PC. Users can also dip in and out of different virtual worlds as they share experiences with their friends. Roblox is a free user-generated content platform that spans a myriad of genres and titles, all created by its community of over 10.5 million active creators and developers.
"Our development teams have worked virtually seven days a week over the last several months to bring this project to fruition," said David Sterling, COO of Good Gaming. "We now have an extensive long-term roadmap for our MicroBuddies™ World within Roblox which will feature diverse storylines, challenging gameplay experiences, and cross-platform integrations with other MicroBuddies™ gaming experiences which represent the beginnings of the MicroBuddies™ Metaverse. We are excited to introduce our MicroBuddies™ IP to a global audience through some of the world's most popular online gaming platforms." CONTINUED… Read this full release for Good Gaming at: https://www.financialnewsmedia.com/news-gmer/
Other recent developments in the gaming industry include:
Roblox Corporation (NYSE: RBLX), a global platform bringing millions of people together through shared experiences, recently released certain key metrics for August 2022.
August 2022 Metrics Were: Daily active users were 59.9 million, up 24% year over year; Hours engaged were 4.7 billion, up 18% year over year; Estimated bookings were between $233 million and $237 million, up 5% - 7% year over year; Estimated average bookings per daily active user was between $3.89 and $3.96, down 14% - 16% year over year; and Estimated revenue was between $208 million and $211 million, up 22% - 24% year over year.
The strengthening of the US Dollar against the Euro, British Pound, and other foreign currencies during 2022 has had an adverse impact on bookings. We estimate that the impact of foreign currency fluctuations led to a reduction of around 4% in the bookings year over year growth rate. On a constant currency basis, we estimate bookings growth would have been 9% - 11% year over year.
Take-Two Interactive Software, Inc. (NASDAQ: TTWO) recently reported strong results for the first quarter of its fiscal year 2023, ended June 30, 2022. In addition, the Company revised its outlook for fiscal year 2023, ending March 31, 2023, to include its combination with Zynga and provided its initial outlook for the second quarter of fiscal year 2023, ending September 30, 2022. For further information, please see the first quarter fiscal 2023 results slide deck posted to the Company's investor relations website at take2games.com/ir.
"Our Fiscal 2023 is off to a strong start, as demonstrated by our first quarter Net Bookings of $1 billion," said Strauss Zelnick, Chairman and CEO of Take-Two. "On a pre-combination basis, our Net Bookings were approximately $731 million, and our operating results were above our expectations, as we launched engaging new games and content updates, all while navigating various macroeconomic and geopolitical factors."
Activision Blizzard, Inc. (NASDAQ: ATVI) CEO Bobby Kotick recently sent the following letter to all employees. "I wanted to provide a brief update of our progress towards the completion of our merger with Microsoft. As we said from the outset, this is a long process. With the number of government approvals required, we still believe the deal is most likely to close in Microsoft's fiscal year ending June of next year. We are fortunate to have already received approvals from a couple of countries, and the process with all of the regulators is generally moving along as we expected.
We heard from the United Kingdom, where we have more employees than anywhere except North America. We have entered the second phase of our review there, and we will continue to fully cooperate with the regulators there, and everywhere approvals are required.
As our industry continues to see numerous companies investing aggressively in gaming, including many of the world's largest technology and media companies, government regulators are taking appropriate and deliberate steps to better understand our industry and the growing competition from around the world."
Skillz Inc. (NYSE: SKLZ), the leading mobile games platform bringing fair competition to players worldwide, recently announced financial results for the second quarter ended June 30, 2022. "We are driving the company towards profitability and are making changes to our programs and personnel accordingly. We reduced our Net Loss by 59% quarter-over-quarter in Q2 2022," said Skillz CEO Andrew Paradise. "We are building for the long term future and are repositioning Skillz to grow profitably in 2023 and beyond."
Q2 Financial Updates Were: Revenue declined by 22% quarter-over-quarter from $93 million in Q1 2022 to $73 million; Revenue After Engagement Marketing (RAEM)declined by 16% quarter-over-quarter from $51 million in Q1 2022 to $43 million; Gross Profit declined by 24% quarter-over-quarter from $84 million in Q1 2022 to $64 million; Net Loss improved by 59% quarter-over-quarter from $148 million in Q1 2022 to $61 million; Adjusted EBITDA improved by 48% quarter-over-quarter from $(61) million in Q1 2022 to $(32) million; Paying Monthly Active Users (PMAU) declined by 26% quarter-over-quarter from 0.57 million in Q1 2022 to 0.42 million; Monthly Average Revenue Per Paying User (ARPPU) increased by 6% quarter-over-quarter from $55 in Q1 2022 to $58; and As of June 30, 2022, the Company had cash, cash equivalents, and marketable securities of $590 million and $300 million of debt outstanding.
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