Gaming Revenues Are Skyrocketing In 2021 And Show No Signs of Slowing Down

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Apr 28, 2021, 08:30 ET

PALM BEACH, Fla., April 28, 2021 /PRNewswire/ -- Gaming has come a long way from the arcades of the 80s. Today, the way more than 700 million people play video games is on a dedicated console, with the console industry on track to generate $45 billion in revenues this year, according to market research firm Newzoo. And the way companies in the sector make money have changed rapidly over the years. Now, with new consoles from Microsoft and Sony on sale, there's a clear push from both companies deeper into software and subscriptions — similar to the way Apple has placed a greater emphasis on services in recent years. They're hoping to capitalize on the rising demand for games as consumers around the world spend more time at home during the coronavirus pandemic. But a viral pandemic isn't the only thing that's changed the gaming industry recently. Newzoo also said that, with over 2.7 billion gamers worldwide in 2020, the video game industry is undergoing a renaissance. An article in Visual Capitalist said that: "Gaming revenues have gone unscathed despite a pandemic, a retraction in economic activity, and the tightening of budgets for households in 2020. This trend could well be a result of video games growing as a form of stay-home entertainment. On an annualized basis, global video game console revenues are to hit $51 billion in 2020 and reach past $60 billion in the next two years." Active tech companies in the markets this week include Versus Systems Inc. (NASDAQ: VS), Skillz (NYSE: SKLZ), DraftKings Inc. (NASDAQ: DKNG), Amazon.com, Inc. (NASDAQ: AMZN), Super League Gaming (NASDAQ: SLGG).

Visual Capitalist continued: "It's clear there is significant buzz around the new consoles, but here's another perspective that highlights their allure to consumers. Video games possess an attractive disconnect in that they are an entertainment cash cow for gaming companies, yet gaming products also happen to be a huge cost saver for the consumer relative to other platforms and devices. The average cost per hour for gaming services is much cheaper than the cost of a book and even more competitive relative to the cost of entertainment giants Netflix and Spotify."

Versus Systems Inc. (NASDAQ: VS) BREAKING NEWS: Versus Systems to Host an Interactive Investor Event on May 20^th - Executive team to update investors via a gamified presentation on recent developments, growth strategy and the partnership with Xcite Interactive - Versus Systems announced today that it will host its first ever virtual investor day on Thursday, May 20th. The interactive, gamified presentation will be held on the Versus Systems website and will begin at 1:30 p.m. Pacific/ 4:30 p.m. Eastern.

Versus Systems' executive management team will make a series of presentations to investors covering recent developments, its strategies and tactics for growth in markets around the world, and details and plans for its recently announced partnership with Xcite Interactive. The presentation will be accessible via the Versus Systems website at www.versussystems.com/investorday. It will be powered and enhanced by XEO, the second-screen application developed in partnership with Xcite that features trivia, polling, prizing, and more, and which the Company expects to be a revolutionary, highly engaging new advertising model. Questions for a Q&A session may be sent in advance to [email protected]. Updates and further details will be available at www.versussystems.com. Read this and more news for Versus Systems at: https://www.financialnewsmedia.com/news-vs/

In other gaming news:

leading platform for fair, fun, and meaningful competition, to crowdsource a future mobile esport. As part of the agreement, the two sports organizations will host a global game developer challenge. Competing developers will have the opportunity to develop an NFL-themed mobile game. The game will be powered by the Skillz esports platform and will have joint marketing support from both the NFL and Skillz. The combination of the NFL brand and the Skillz platform will set the stage for the future of electronic sports competition.

Working with Skillz enables the NFL to reach the next generation of football fans where they live – on mobile – while driving the convergence of traditional and online sports. For Skillz, this agreement will introduce hundreds of millions of NFL fans to the leading esports platform.

DraftKings Inc. (NASDAQ: DKNG) recently continued to broaden its sports entertainment footprint by completing a first-of-its-kind content distribution, monetization and sponsorship agreement with Meadowlark Media. As part of the deal, Meadowlark Media and DraftKings will distribute The Dan Le Batard Show with Stugotz and the Le Batard & Friends Network across a wide range of audio, TV, digital and social channels. Additionally, the network of shows will prominently feature DraftKings' odds, betting trends and general sportsbook and daily fantasy information.

"We're thrilled to find a collaborator in DraftKings that shares our vision to grow Dan Le Batard's already wildly popular network of shows in non-conventional ways," said Meadowlark CEO John Skipper. "With the freedom to widely distribute these programs, we'll be able to reach the largest possible audience and provide incredible content to DraftKings."

Amazon.com, Inc. (NASDAQ: AMZN) recently announced the all-new Fire Kids Pro tablets for kids ages 6 to 12 and the next generation Fire HD 10 Kids tablet for kids ages 3 to 7. Now, grown-ups can choose a Fire Kids tablet experience that meets the changing needs of kids as they grow, while enjoying flexible parental controls that give adults peace of mind.

The all-new Fire Kids Pro reimagines the tablet experience for kids ages 6 to 12 with features that empower kids to independently explore and expanded, age-appropriate content. Fire Kids Pro is an affordable, kids tablet that includes everything a child needs to get started—a full-featured Fire tablet, a one-year subscription to Amazon Kids+ with an expanded selection of content for older kids, a slim protective case, and a two-year worry-free guarantee. Fire Kids Pro is available in three sizes and three colors and prints. And, any customer with a Fire or Fire Kids tablet can enable the new Fire Kids Pro features on their existing device using the Amazon Parent Dashboard.

Super League Gaming (NASDAQ: SLGG), a global leader in competitive video gaming and esports entertainment for everyday players, recently participated in the 2021 Esports Newfront alongside Mobcrush, a live streaming platform used by hundreds of thousands of gaming influencers. 2021 Esports Newfront is the premiere invitation-only event for brands and agencies presented by EBS/Cynopsis.

The presentation from the two companies, featured a first-hand look at the unique opportunities for consumer brands to reach a broad demographic of mainstream gamers across the three most critical engagement points: in-game, in-stream, and in-event. The companies will share how tapping into their offerings enables an impressive level of scale through a combined player base of more than three million per month and more than 400,000 players per day, and a U.S. audience of 85 million monthly and more than 7.7 billion video views across digital live streaming platforms such as Twitch and YouTube (Nielsen DCR December 2020), as well as more than two billion video views across social media channels including Instagram, TikTok, Twitter and more. With a collection of wholly-owned young gamer properties in Super League's Minehut and Mobcrush's Mine Ville, a roster of gaming influencers who generate almost two million hours of content annually, and Super League Arena, a compelling esports tournament broadcast series featuring top amateur and semi-pro players, the companies are in an exciting position to provide brands, advertisers, and other consumer-facing businesses access to the highly prized, highly engaged esports audience they crave.

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