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Why Gaming Dominates The Entertainment Industry

Why Gaming Dominates The Entertainment Industry English Article

Entertainment has gone digital! Whether we’re scrolling social media for quick fixes or binge-watching a series via platforms like Netflix, we humans simply can’t get enough of screen-based entertainment. In among the platter of digital content we’re served on a daily basis, there’s one segment that’s charging ahead as being not just the most profitable, but also the most influential: gaming.

For several years now, video gaming has shifted from being a single market to a big tech sector that forms the foundation of modern, digital entertainment. Gone are the days when playing video games was a mere hobby; in its place, we now have the $1 billion eSports segment. Moreover, gaming as a whole overtook the film and music sectors in 2021, when annual revenues generated by the sector surpassed $180 billion (according to Liquid Web). We’re even now consuming gaming IP in the form of major film and TV releases, but how did what was once a niche sector ascend to such highs?

Variety And Appeal

Just a glance at the type of gaming experiences that are available here in the 21st century gives a clear indication of why gaming has become so popular. The gaming landscape is vast, with gamers in India and across the world being offered a wealth of digital options, from participating in eSports-quality team games to playing online pokies for real money. Just as there’s a trove of digital film and TV content for consumers to dive into, in the gaming realms there are all manner of exciting universes to explore and adventure to embark on.

The appeal of playing games extends beyond simply what users engage with on screen to how they’re engaging with gaming content. Gaming consoles are more innovative than ever, with 5th generation models like the PS5 and Xbox Series X packing in tons of processing power to rival even the most powerful gaming PC. PCs, too, have evolved to the point where players are totally immersed in the games they’re choosing to play, with tech advancements like ray tracing offering hyperreal enhancements.

Innovation And Influence

Speaking of advanced tech developments, the global gaming industry stands at the forefront of innovation and development. Most of the tech trends we engage with today have roots in the early days of gaming. Even the idea of logging into a streaming platform to absorb digital content was first pioneered by the sector, with digital marketplaces like Valve’s Steam kickstarting the revolution back in the early 2000s.

Gaming has become hugely influential in other ways too, not just on a tech level. Ever heard of a little Netflix show called The Witcher? Well, this landmark show that racked up over 500 million hours of views within a month of hitting the platform was an adaptation of CD Project’s fantasy gaming series — a series that is beloved by the global gaming community, by the way.

The games themselves are based on Andrzej Sapkowski’s novels, but as anyone who’s played titles like The Witcher 3: Wild Hunt will tell you, Netflix’s adaptation owes just as much to CD Projekt’s IP as it does Sapokowkski’s original books. Of course, big-screen versions of small-screen classics like Tomb Raider and Sonic The Hedgehog have been happening for decades, but these developments highlight just how mainstream the gaming industry has become.

The phenomenal success of gaming IP adaptations has even driven the aforementioned international streaming service to add video game development to its already substantial arsenal. In a bid to become a full-service entertainment platform, Netflix launched its eponymous gaming service in late 2021. Netflix Games features an array of desktop and mobile games based on popular TV shows, including Stranger Things and Black Mirror, and plans are in the works for further expansion throughout 2024.

Even the music biz has been penetrated by this influential entertainment sector. Fortnite, a smash eSports title developed by Epic Games, has become the virtual platform in which artists like Ariana Grande, Travis Scott, and Marshemello perform exclusive sets to fans while treating them to incredible digital experiences. During Scott’s record-breaking concert, which pulled in 12.5 million viewers, the rapper grew to the size of Godzilla — a feat that would take some doing to accomplish in the real world.

What Does The Future Hold?

With video gaming now being a core segment in the digital entertainment industry, what other industries could it permeate in the future? Well, if the present’s anything to go by, the sector will be critical to the success of the metaverse and other extended reality concepts and innovations.

It’s also likely to play a key role in the ongoing expansion of decentralized finance and the mainstream integration of blockchain and cryptocurrencies. The fusion of blockchain with gaming has already given rise to the burgeoning GameFi sector, with segments like Play to Earn (P2E) generating radical new economies that benefit gamers by providing them with opportunities to earn digital tokens with real-world value.

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