Gaming Industry Continues Big Growth Due To Stay At Home Americans
US video game sales spike March-May 2020.
As soon as people were ordered to stay home in response to the Covid-19 pandemic, consumers have had a number of ways to spend their added time at home – including play games. As the above chart shows, the increases in gaming revenue has been huge, month to month, since March. In March of this year, gaming, over March of 2019 is up 34% in spending. In April of this year, gaming was up 73% over last year, same month! And this past month, May, was up 53% over May of 2019.
While it is clear that consumer engagement with gaming has increased as people have had more time at home, but what will happen when the world goes “back to normal”.
“Video game engagement and revenue across all platforms, including console, PC, mobile, and VR, grew globally during the Covid-19 lockdown. Video gaming is considered an affordable and accessible form of entertainment, and existing and new gamers across all demographic groups found emotional and social support in these virtual worlds. The digital transition that began a decade ago through digital downloads, games-as-services, and mobile app stores has paid off for the industry,” said Michael Cai, President of Interpret, a global video game insights agency.
Portrait of a man sitting on sofa with a boy and a girl, having fun playing video games.
Stan Kwon, CEO of Beta Hat, a market and consumer insights agency specializing in gaming, media, and emerging technologies, confirmed the rise in gaming over the last few months. “Based on a recent survey we conducted among adult gamers in the US, almost 60% say that they’re spending more time playing games now than they were prior to stay-at-home orders going into effect.” Kwon also reported that he sees Americans “choosing to play a wider variety of games rather than sticking to the same games they were playing before” the stay-at-home order.