Financialnewsmedia.com News Commentary
The world is currently undergoing a harrowing and unprecedented event: the COVID-19 pandemic. During these trying times, gaming has become a means of escapism and time filling for many. As a result, one of this year’s growth drivers is an increased interest in gaming due to COVID-19-related lockdown measures. Recent industry reports and publications estimate that the world’s 2.7 billion gamers will spend $159.3 billion on games in 2020 and that the market will surpass $200 billion by 2023. Across all three segments (PC, console, and mobile), almost half of consumer spending on games will come from China and the U.S. in 2020. However, growth will be driven by emerging markets in regions like Latin America and Asia-Pacific in the years to come. According to NewZoo, the total games market is projected to continue to grow in the following years, exceeding $200 billion at the end of 2023. “By then, we forecast the games market to grow with a +8.3% CAGR to $200.8 billion… Due to the new generation of consoles, growth in console game revenues will steadily grow every year, although we do not foresee revenues reaching double-digit growth before five to six years into the launch. Mobile gaming will continue to be the fastest-growing segment overall.” Active tech companies in the markets this week include Versus Systems Inc. (CSE: VS) (OTCQB: VRSSF), Zynga Inc. (NASDAQ: ZNGA), GameStop Corp. (NYSE: GME), Unity Software Inc. (NYSE: U), Activision Blizzard, Inc. (NASDAQ: ATVI).
The NewZoo article reported: “All game segments saw an increase in engagement and revenues as a result of the COVID-19 measures, but mobile gaming saw the biggest increase. In total, mobile games will generate revenues of $77.2 billion in 2020, growing +13.3% year on year. There are a few reasons why mobile will enjoy more growth than both PC and console gaming: Mobile gaming has the lowest barrier to entry: more than two-fifths of the global population owns a smartphone—and many mobile titles are free to play; Mobile gaming as an alternative to PC cafes: the closure of these cafes has led many to (temporarily) churn to mobile gaming; and The mobile development process is less complex and, therefore, less likely to suffer delays from COVID-19-related disruption.”
Versus Systems Inc. (CSE: VS) (OTCQB: VRSSF) BREAKING NEWS: Versus Systems Files to List on Nasdaq – Rewards Software Company Files F-1 Registration Statement for Proposed Public Offering and Application for Nasdaq Uplisting – Versus Systems today announced that it has publicly filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (“SEC”) relating to a proposed public offering of its common shares. The number of shares to be offered and the price range for the proposed offering have not yet been determined.
Versus has also applied to list its common shares on The Nasdaq Capital Market under the ticker symbol “VS.” The Company believes it meets the initial listing requirements for The Nasdaq Capital Market except for the equity standard requirement, which the Company anticipates satisfying upon closing of this proposed public offering.
Lake Street Capital Markets, LLC is acting as representative of the underwriters for the offering.
The proposed offering will be made only by means of a prospectus. Once available, a copy of the preliminary prospectus related to the offering may be obtained from Lake Street Capital Partners, LLC, Attention: Syndicate Department, 920 Second Avenue South, Suite 700, Minneapolis, MN 55402, telephone: (612) 326-1305, or by emailing [email protected].
A registration statement relating to the proposed offering has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
The listing of the Company’s common shares with The Nasdaq Capital Market remains subject to approval by The Nasdaq Stock Market and the satisfaction of all applicable listing and regulatory requirements. No assurance can be given that the Company’s common shares will ultimately be listed on The Nasdaq Capital Market. During the review process, the Company’s common shares will continue to trade on the CSE under its current symbol “VS,” and on OTCQB under its current symbol “VRSSF.”
More Stats : https://gamefid.com/video-game-statistics
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