Gaming is officially the most successful entertainment sector of the 21st century, according to new analysis from the Entertainment Retailers Association (ERA).
Thanks to the rise of gaming across all platforms, with mobile and digital gaming providing a particular spike, the retail value of the UK games sector was four-and-a-half times larger in 2020 at €4.43 billion than it was in 2000.
In 2000 games lagged behind the music and video sectors also represented by the ERA. As of 2020 it is now by far the largest. At 47.8% of the combined music, video and games sectors which ERA represents, gaming is nearly as big as the video and music sectors combined.
The rise of gaming offers many lessons to the rest of the entertainment industry from its whole hearted embrace of technology to its diversity of channels for consumers to its entrepreneurial drive to its refusal to be limited by old business models,“ she said. “In answering the demand of consumers for immersive experiences, it is the leading 21st century entertainment sector.Kim Bayley, CEO – ERA