Global Gaming Market Expected to Exceed $256 Billion By 2025
Due to COVID-19-related lockdown measures there is an increased interest in gaming. With the outbreak of COVID-19, home entertainment seems to be the only option for gamers in lockdown while cinemas and theaters continue their’ door-closed’ policy to prevent the disease. Recent surveys show that video gamers in the United States reported that they spent 45% more time playing video games amid the quarantine than in the previous week… but the global gaming markets were growing even before the pandemic. A report from Mordor Intelligence noted that in 2019 the global gaming market was valued at USD 151.55 billion… New Zoo reported that the World’s 2.7 billion gamers will spend $159.3 billion on games in 2020 and it will surpass $200 billion by 2023… Mordor added that they expected revenues to reach a value of USD 256.97 billion by 2025, registering a CAGR of 9.17% over the forecast period (2020 – 2025). The Mordor report added: “The emergence of cloud gaming is driving the market. Recent advances in advanced cloud technology have turned the idea of cloud gaming into reality. In cloud gaming, the server, where all the games are stored, does all the computation work, which includes game scene rendering, game logic processing video encoding, and video streaming… This new sector is also seen as a serious competitor for the traditional game market.” Active tech companies in the markets this week include Planet Ventures Inc. (TSX-V: PXI) (OTCPK: PNXPF), Tencent Holdings Limited (OTCPK: TCEHY), Activision Blizzard, Inc. (NASDAQ: ATVI), Electronic Arts Inc. (NASDAQ: EA), Activision Blizzard, Inc. (NASDAQ: ATVI), FansUnite Entertainment Inc (CSE: FANS) (OTCQB: FUNFF).
It continued: “Adoption of Gaming Platforms, such as E-sports, drives the market. eSports are witnessing substantial market demand in the current market scenario, and are thus driving the overall gaming industry across the globe… South Korea is considered to be the country of origin of eSports. Even though the United States overtook South Korea in terms of revenues in the eSports business, it still hosts one of the biggest tournaments in the world… The sector is also witnessing considerable activity from startups, that are further propelling the market growth… Asia-Pacific is anticipated to hold the largest market share in the gaming industry, where countries such as China, Japan, and South Korea show a high potential in market growth.”
Planet Ventures Inc. (TSX-V: PXI) (OTCPK: PNXPF) BREAKING NEWS: 1st11’s ENTERTAINMENT AND GAMING PLATFORM LAUNCHES DECEMBER 1ST 2020 – Planet Ventures (“Planet” or the “Company”) is pleased to announce its wholly owned subsidiary, 1st11, will launch a unique portfolio of gaming entertainment products on December 1st, 2020. 1st11 delivers a unique competitive gaming experience featuring exciting talent from the world of gaming, pro sports and esports. Powered by advanced esports, mobile web and influencer technology, fans can easily sign up to 1st11 and play alongside or against their heroes with live action simultaneously streamed to the platform as well as via its distribution network of creators and partners.
Peter Glancy, 1st 11 CEO commented “We are delighted to release our consumer product offering just before Christmas as the sector continues to grow. 1st11 is uniquely placed to embrace a whole new generation of gamers enabling them to easily play alongside or against their favorite gaming creators, esports stars and sporting heroes. As growth in the gaming and esports sector has become a global phenomenon it continues to draw-in superstar athletes who have a passion for gaming, streaming and sharing content with an engaged audience of millions. We are also seeing the ongoing rise to prominence of gaming creators and esports stars with an ever expanding fanbase, digital footprint and influence. 1st11’s ‘Fun Comes 1st’ ethos is about bringing together all the above into a gamer first offering that places inclusivity, accessibility and the fan experience at its core”.
Advanced cloud-based technology, influencer analytics, distributed computing and latency optimization serves to support interactive and scalable formats co-created by the 1s11 Creator Network. 1st11 is built by a team of industry leaders and professionals from the ground up to deliver a new approach, making competitive gaming accessible for all across mobile, desktop as well as the next generation of consoles.
1st11’s product differentiation – 1st11’s consumer offering is underpinned by three key core product components which are designed to work together to offer customers unique and fun competitive gaming experiences. The first is a custom built mobile optimized entertainment destination. 1st11fun.com will feature exclusive content, interviews, gaming tips and editorial delivered by a roster of authentic and credible talent. 1st11 content is co-created by successful streamers and gaming creators that resonate in gaming culture. As a result, the site will be cross promoted collectively to millions of followers across social media and streaming platforms. All activity is designed to encourage fans to register and participate in creative, fun and inclusive competitive gaming experiences.
The second is 1st11.gg, a cutting-edge challenge and tournament destination that is seamlessly integrated with the entertainment site. Users can easily sign up, create an account and play against or alongside their favourite creators and sporting heroes. Games at launch include CounterStrike Global Offensive, Valorant, Fall Guys, League of Legends, FIFA 21, Pro Evolution Soccer 2021, NBA2K 21, Street Fighter IV and many more. The interactive gaming platform is designed to integrate with mobile, console and PC games as well as harnessing content from streaming sites such as Twitch and YouTube. Fans will have the chance to earn and win rewards, unlock meaningful experiences and purchase limited edition co-created prizes.
The third is the ‘1st11 Creator Network’ with over five hundred athletes onboarded at time of launch. The App (soon to be available via the Apple App Store and Google Play) is a custom-built influencer technology platform that centrally coordinates and assists in influencer management and scheduling activity from an ever-growing talent pool of relevant gaming creators, esports stars and pro athletes. The 1st11 Creator Network is also supported by advanced proprietary technology offering best in class analytics and reporting capabilities that will continuously fuel and inform the customer experience. It will also enhance revenue opportunities by providing brands ease of access to 1st11’s entertainment product portfolio and influencer network.
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