Narissa Subramoney
Copy rewriter
2 minute read
10 May 2022
4:01 pm

Gaming industry balloons to three billion players

Narissa Subramoney

At least 70 % of people under 25 prefer spending time gaming over watching videos.

Picture - iStock

Management consulting firm Mckinsey and Company says the game industry has drawn in almost three billion players globally, and its value now exceeds $300 billion.

This fast-growing, digital world of cowboys, cute pastel animals, grand larceny, and more is “the most prevalent and fast-growing form of media on the planet.”

Esports is also picking up steam, but this is also due to sponsorships and streaming.

Most of the gamer die-hards are Gen Z’s.

As one of the first generations to grow up with modern computer gaming, roughly 70 % of people under 25 now prefer to spend their time gaming over watching videos.

Beyond consoles, the Wordle craze is part of a growing wave of quick phone games with a social aspect. “The cultural component is huge. People want to connect with each other and—more important—want to show off in the group chat,” said Mckinsey and Company.

The trend of “gamification,” which involves adding game elements into things that didn’t start out as games, is also on the rise.

Getting real on social media

Gen Z’s current favourite app is BeReal, which prompts users to take two pictures and post them at a random time.

BeReal is a French social media app, developed by Alexis Barreyat and was released in 2020.

It functions by asking users to share a photo from whatever they are doing during a randomly selected two-minute window each day.

“It ditches filters for “real” pics, but it’s also a race to post within the two minutes the app gives you to share your snaps,” said Mckinsey and Company.

Fashion and health industries climb into gaming ecosystems

Some fast-fashion enthusiasts will tell you about the thrill that comes from combing through racks of thrift clothes and finding a steal.

That works online too, as gamification encourages customers to check back to online stores frequently for the chance of scoring a steal.

The fashion industry is stepping into gaming ecosystems elsewhere too, with brands like Gucci teaming up with the online platform Roblox.

The fashion industry is not the only sector with eyes on gamers, an Icelandic health start-up interjects game elements into all its programs.

It even includes a special one for Covid-19, using the same dopamine rush games give you to get you involved in your well-being.

Booking a flight? Gen Z is huge on experiences, and the 65% of gen-Z’s who said they hoped to take a big vacation in 2022 are another win for gamification.

Frequent-flyer programs are using tiers and points to keep customers booking, and even to encourage greener behaviour.

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