Global Gaming Revenues Could Exceed $195 Billion By 2024 Across All Gaming Platforms
Palm Beach, FL –October 15, 2019 – Back when Apple and Microsoft were first introducing their revolutionary individual desktop computers, software that enabled the user to also play games, appeared almost immediately. From simple games such as solitaire to the more complex “Pong” game, hardware and software designers realized that, to paraphrase a popular song title… “people just want to have fun”! From its roots in the latter part of the 20th century to now… the gaming market has grown exponentially… and is poised to continue to do so well into the future. The revenue projections for the global gaming market continue to rise. NewZoo, a trusted industry resource, projects that in 2019, the global games market will generate revenues of $152.1 billion, a +9.6% year- on-year increase and that by 2022 the global games market will grow to $196.0 billion with a CAGR (2018-2022) of +9.0%. Active companies in the markets this week include Versus Systems Inc. (CSE: VS) (OTCQB: VRSSF), Electronic Arts Inc. (NASDAQ: EA), Activision Blizzard, Inc. (NASDAQ: ATVI), Glu Mobile Inc. (NASDAQ: GLUU), Millennial Esports Corp. (TSX-V: GAME) (OTCQB: MLLLF).
Many reports infer that this increase is due to the continually increasing number of smart phones around the world. That makes sense since there are more than twice the number of smartphones than there are actual users worldwide, however, it is the “old fashioned” platforms of personal computers (PC) and Consoles that actually still predominates the largest part of the global revenue pie chart. Yes, there are more mobile devices (phones & tablets) out there, but the screens are smaller and to many, the excitement of the game requires a larger screen &/or additional devices (game controllers etc.) to really become immersed in the game itself… to suspend reality more easily. Nevertheless, laying on a smaller mobile device is better than not playing at all! New Zoo says that Mobile gaming (smartphone and tablet combined) will produce revenues of $95.4 billion in 2022, growing with a CAGR of +11.3% to account for almost half (49%) of the entire games market.
Versus Systems Inc. (CSE: VS) (OTCQB: VRSSF) BREAKING NEWS: Versus Systems today is pleased to announce that OMEN Rewards, powered by Versus proprietary Winfinite engine, is now offering rewards for in-game achievements in League of Legends by Riot Games.
OMEN Rewards, powered by Winfinite, is now offering real-world prizes for in-game achievements in League of Legends games that are played from the OMEN Command Center. Prizes are now available for eligible players across the United States.
League of Legends by Riot Games is the biggest PC game in the world, with 8 million peak concurrent players daily, and hundreds of millions of players across the globe. League is currently celebrating their 10th year as one of the most successful, and most-played PC games ever made. League is also one of the most successful e-sports titles ever, with over 200 million people watching the 2018 League of Legends World Championships.
“League of Legends is one of the greatest and most popular PC games ever made. Versus is extremely excited to offer prizes to OMEN players based on their in-game achievements in League.” said Matthew Pierce, CEO of Versus. Read this and more news for Versus Systems at: https://financialnewsmedia.com/news-vs/
Other recent developments in the gaming/tech industries include:
NewZoo projected that, for both PC and Console for 2019 and 2022: “Across the board, the games market is in a healthy state, with every segment showing growth. Console is the second-largest segment, boasting revenues of $47.9 billion. It will grow to $61.1 billion by 2022 with a CAGR (2018-2022) of +9.7%. In total, PC games will generate $35.7 billion in 2019, making it the third-largest segment. Game revenues for PC will grow at a slower pace than mobile and Console revenues. Nevertheless, the overall PC gaming market will grow with a CAGR of +3.5% to total $39.5 billion by 2022.”
Glu Mobile Inc. (NASDAQ: GLUU) recently announced that on October 8, 2019, its Compensation Committee awarded time-vesting restricted stock unit awards covering an aggregate of 95,303 shares of Glu’s common stock to three newly hired employees, each pursuant to Glu’s 2018 Equity Inducement Plan. The restricted stock unit awards each vest with respect to 25% of the underlying shares on November 15, 2020, with the remaining 75% of the underlying shares vesting in equal quarterly installments over the next three years on the same day of each third month (e.g., the next quarterly vesting date will be February 15, 2021, then May 15, 2021, etc.).
Glu’s Compensation Committee adopted the 2018 Equity Inducement Plan, which is a non-stockholder approved plan, to facilitate the granting of equity awards as an inducement material to new employees joining Glu. Nasdaq Marketplace Rule 5635(c)(4) requires a public announcement of equity awards made under this type of plan.
Millennial Esports Corp. (TSX-V: GAME) (OTCQB: MLLLF) Millennial Esports will expand its global esports and motorsport content creation and distribution platform by taking a controlling stake in leading automotive YouTube channel, LetsGoRacing. LetsGoRacing is a YouTube channel that focuses on motorsport and esports racing content, from the creators of The Apprentice. The channel has achieved more than 40 million views from fans across the globe who have watched an incredible 270 million minutes of content since 2013. That equates to 513 years of viewing of Racing, motorsport, gaming, features and esports competitions.
Activision Blizzard, Inc. (NASDAQ: ATVI) Activision’s Call of Duty®: Mobile recently announced that it has surpassed 35 million downloads faster than any other mobile First Person or Third Person Action games on App Store and Google Play. Published by Activision, and developed by Tencent Games’ award-winning TiMi Studios, the new title has achieved the #1 app ranking on App Store based on downloads in over 100 countries since launch. Call of Duty: Mobile delivers the definitive, free-to-play, first person action experience on mobile, bringing together the most beloved maps, competitive modes, iconic characters and signature weapons from across the franchise, including the Modern Warfare® and Black Ops universes, in one epic experience.
Electronic Arts Inc. (NASDAQ: EA) recently announced that since EA SPORTS™ FIFA 20 launched on EA Access* and Origin Access*, more players than ever are getting into the game early with over 10 million players already competing on professional pitches and futsal cages around the world. To celebrate, players who get into the game by October 17 will be rewarded with 8,000 VOLTA COINS** to customize their avatar and express their style with newly available items in the latest VOLTA Drop. In addition, players can also participate in a new VOLTA FOOTBALL Squad Building Challenge puzzle to earn in-game rewards.
Across the globe, EA SPORTS™ FIFA continues to be the world’s most played sports game: FIFA 20 players have surpassed 450 million matches played, with 1.2 billion goals scored across all modes in the game; FIFA Ultimate Team sees more players than ever competing in the first three weeks since launch, with over 272 million FUT games played to date. In addition, more than 138 million games have been played in Division Rivals, with players racking up wins in the FUT Champions Weekend League to become FUT Champions Verified and cement their spot on the EA SPORTS FIFA 20 Global Series Rankings on The Road to The FIFA eWorld Cup™; and VOLTA FOOTBALL has claimed its spot as the second most popular mode in FIFA 20, with over 5 million avatars created to date and virtual matches played across courts around the world, with the top 5 locations being Berlin, Rome, Lagos, London and Cape Town.
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