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Video game industry. The video game industry is the tertiary and quaternary sectors of the entertainment industry that specialize in the development, marketing, distribution, monetization and consumer feedback of video games. The industry encompasses dozens of job disciplines and thousands of jobs worldwide.
This is a listing of largest video game publishers and developers ranked by reported revenue. Sony Interactive Entertainment is the world's largest video game company, followed by Tencent and Microsoft Gaming. [ 1][ 2] Among the 50 largest video game companies, thirteen are based in the United States, ten in Japan, six each in South Korea and ...
The video game industry in general was boosted by the pandemic, since people under pandemic lockdowns were forced to stay home, with video games becoming a popular pastime. Total spending in video games grew to US$33.7 billion in the United States during the first nine months of 2020 compared to US$27.9 billion for the same period in 2019. [87]
In 2023, the state of the video game market is, “big and getting bigger.” So why, from a player perspective, does it feel like the industry is… shrinking?
On April 16, 2024, Take-Two Interactive announced plans to lay off 5% of its workforce and cancel several video game projects. The company cited a cost-reduction plan, anticipating total charges of $160 million to $200 million. These measures are expected to be largely implemented by December 31, 2024. [ 129]
According to IDC, mobile game revenue shot up 32.8% to $99.9 billion in 2020, while digital PC and Mac game spending jumped 7.4% to 35.6 billion. Home console game spending, meanwhile, soared 33.9 ...
The video game industry is on the cusp of a turnaround after a tumultuous few years that saw sales come back down to earth from the lofty heights they reached during the early days of the pandemic.
The American video game industry is the largest video game industry in the world. According to a 2020 study released by the Entertainment Software Association, the yearly economic output of the American video game industry in 2019 was $90.3 billion, supporting over 429,000 American jobs. With an average yearly salary of about $121,000, the ...