Video games come with a distinctive appeal that attracts legions of followings. Proving its dominant drawing power, global gaming purchases reached a staggering 500 million in 2010. The industry continues to serve as one of most lucrative markets with gamers collectively spending 3 billion hours every week playing the said platform.
Investigative findings by way of the Association of Psychological Science reveal that gaming usually is considered as the optimal platform for players to take on the characteristics of their "ideal self." Video games offer gamers the possibility to play an ideal role or virtually adopt an alternative identity, introducing feelings of enjoyment in the massively social and interactive games experience and satisfaction at each victory.
A Formidable Industry
Just in 2008, the gaming industry - covering all video games in all video formats - made more money than all Blu-ray together with DVD movie releases combined with regard to product sales. Gaming sales were at $32 billion, up by 20 percent from 2007. The show biz industry sales dropped 6%, fixed at only $29 billion.
A case in point is Grand Theft Auto IV, which became a jaw-dropping achievement when it broke 2 entertainment industry records, hauling the largest sales on a single-day together with seven-day basis since the release on 04/29/2008. GTA IV sold 3.6 million copies or $310 million in equivalent sales within the first 24 hours of its availability. Relating to the first week, the sales figures subsequently skyrocketed to over six million units or an equivalent of $500 million.
The GTA IV first-week earnings are comparable to giant movie releases. In a report by Reuters, the British-produced video game has outperformed Harry Potter and the Half-Blood Prince from Warner Bros., which raked in $394 million during its opening week in 2009. GTA 4 also beat blockbuster Spider-Man 3 from Sony and Buena Vista's Pirates of the Caribbean: At World's End, which earned $382 million and $344 million, respectively, when they opened in cinemas in 2007.
On December 12, 2011, Modern Warfare 3 officially de-throned the most recognized movie of all time - Avatar, as the fastest entertainment media to achieve the $1 billion mark. The former got its first billion dollar earnings 16 days after it was released while the other for 17 days.
Exemplifying prestigious international business marketing solutions, games have also amassed earnings from its European market, decisively pulling the limelight faraway from the movie industry. Deemed "the most valuable purchased entertainment market," video game sales are four times more than cinema earnings, additionally trumping music and DVD sales combined.
Shedding light on the phenomenal video game following, United Kingdom paper The Guardian notes how video gaming pushes itself to the mainstream consciousness by arousing the consumer's intelligence, appealing to their imagination and enhancing constancy in player involvement - something that Hollywood is probably not very successful at.
A Glimpse into the future
Market research firm Gartner, Inc. has shown that in 2011, global spending on the gaming ecosystem can reach over $74 billion, showing an increase of 10.4% from $67 billion in 2010. Vital transitions to gaming technology, company and software strategies are generally predicted to last further than 2015, and by then, spending will jump to a whopping $112 billion.
The gaming ecosystem covers gaming console manufacturers Nintendo, Sony together with Microsoft; software programs for platforms or game consoles like PlayStation 2 and 3, Wii and Xbox 360 System; lightweight consoles Nintendo DS together with DSi, Game Boy Advance and Sony PSP; PC or notebook software; mobile phone gaming, together with online and social playing games.
Discussing the gaming business and software strategies in general, marketing and advertising firm Zebra Partners representative Perrin Kaplan tells Gaming Business Review that gamers will usually tend to respond to new products, in spite of how they are becoming packaged - console, PC, handheld or Internet. With the new games mushrooming on different kinds of media, the challenge for vendors in the video game industry is to adjust to what insatiable gamers want: to become continuously surprised and interested by a new type of fun and new technology that come with video gaming.
Investigative findings by way of the Association of Psychological Science reveal that gaming usually is considered as the optimal platform for players to take on the characteristics of their "ideal self." Video games offer gamers the possibility to play an ideal role or virtually adopt an alternative identity, introducing feelings of enjoyment in the massively social and interactive games experience and satisfaction at each victory.
A Formidable Industry
Just in 2008, the gaming industry - covering all video games in all video formats - made more money than all Blu-ray together with DVD movie releases combined with regard to product sales. Gaming sales were at $32 billion, up by 20 percent from 2007. The show biz industry sales dropped 6%, fixed at only $29 billion.
A case in point is Grand Theft Auto IV, which became a jaw-dropping achievement when it broke 2 entertainment industry records, hauling the largest sales on a single-day together with seven-day basis since the release on 04/29/2008. GTA IV sold 3.6 million copies or $310 million in equivalent sales within the first 24 hours of its availability. Relating to the first week, the sales figures subsequently skyrocketed to over six million units or an equivalent of $500 million.
The GTA IV first-week earnings are comparable to giant movie releases. In a report by Reuters, the British-produced video game has outperformed Harry Potter and the Half-Blood Prince from Warner Bros., which raked in $394 million during its opening week in 2009. GTA 4 also beat blockbuster Spider-Man 3 from Sony and Buena Vista's Pirates of the Caribbean: At World's End, which earned $382 million and $344 million, respectively, when they opened in cinemas in 2007.
On December 12, 2011, Modern Warfare 3 officially de-throned the most recognized movie of all time - Avatar, as the fastest entertainment media to achieve the $1 billion mark. The former got its first billion dollar earnings 16 days after it was released while the other for 17 days.
Exemplifying prestigious international business marketing solutions, games have also amassed earnings from its European market, decisively pulling the limelight faraway from the movie industry. Deemed "the most valuable purchased entertainment market," video game sales are four times more than cinema earnings, additionally trumping music and DVD sales combined.
Shedding light on the phenomenal video game following, United Kingdom paper The Guardian notes how video gaming pushes itself to the mainstream consciousness by arousing the consumer's intelligence, appealing to their imagination and enhancing constancy in player involvement - something that Hollywood is probably not very successful at.
A Glimpse into the future
Market research firm Gartner, Inc. has shown that in 2011, global spending on the gaming ecosystem can reach over $74 billion, showing an increase of 10.4% from $67 billion in 2010. Vital transitions to gaming technology, company and software strategies are generally predicted to last further than 2015, and by then, spending will jump to a whopping $112 billion.
The gaming ecosystem covers gaming console manufacturers Nintendo, Sony together with Microsoft; software programs for platforms or game consoles like PlayStation 2 and 3, Wii and Xbox 360 System; lightweight consoles Nintendo DS together with DSi, Game Boy Advance and Sony PSP; PC or notebook software; mobile phone gaming, together with online and social playing games.
Discussing the gaming business and software strategies in general, marketing and advertising firm Zebra Partners representative Perrin Kaplan tells Gaming Business Review that gamers will usually tend to respond to new products, in spite of how they are becoming packaged - console, PC, handheld or Internet. With the new games mushrooming on different kinds of media, the challenge for vendors in the video game industry is to adjust to what insatiable gamers want: to become continuously surprised and interested by a new type of fun and new technology that come with video gaming.
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