A recent report indicates positive forecasts for the video game industry, predicting revenues will rise from $224 billion in 2024 to nearly $300 billion by 2029. This growth comes despite cost of living pressures impacting other sectors of the entertainment industry. The gaming sector remains resilient, even as streaming media faces challenges from reduced consumer spending. Analysts expect around 4 billion individuals worldwide will engage in gaming by 2028, marking a substantial increase in participation. Major game releases are seen as critical factors influencing industry growth.
While other forms of digital entertainment are suffering, video games have proved more resistant to economic pressures and are projected to grow significantly in the coming years.
The PwC report suggests that total revenues of the games industry could grow from $224 billion in 2024 to nearly $300 billion by 2029, demonstrating its potential as a major growth source.
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