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Over 50% of Video Games Market Revenue Spurred by Mobile Gaming: Fact.MR Study

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Over 50% of Video Games Market Revenue Spurred by Mobile Gaming: Fact.MR Study
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The latest intelligence report published by an ESOMAR-certified market research and consulting firm estimates that the video games market revenue will maintain a progressive growth rate between 2021 and 2031, following a CAGR of nearly 13% to reach US$ 510 Bn by the end of the said forecast period. In the short-run, by 2022, revenues are likely to reach US$ 140 Bn.

Historically, from 2016 to 2020, video games sales witnessed impressive growth, registering a CAGR of around 8% to top US$ 151 Bn by the end of the said period. Sales have especially catapulted amidst the COVID-19 pandemic, with online videogames anticipated to be the fastest-growing segment over the forecast period.

The advent of online streaming and adoption of VR in gaming are amongst the prominent factors for market growth. Furthermore, the rapid growth in internet users is propelling the global revenue gathering. In 2020, Asia dominated the market with nearly 55% revenue and is predicted to witness substantial growth in the forthcoming years.

Key Takeaways from the Market Study:

  • The global video games market is anticipated to add over 3x value by 2031
  • Mobile/tablet video gaming to account for 55% revenue, reaching US$ 162 Bn by 2020
  • Based on hardware, handheld consoles to contribute US$ 60 Bn in revenue by 2022-end
  • By type, action video games to remain in the limelight, accounting for 1/3rd of total sales
  • Sales of video games in the U.S likely to expand at a CAGR of 11% through 2031
  • China accounted for around US$ 30 Bn in value terms in 2020, especially for mobile gaming
  • India likely to be a lucrative market, attributed to increasing smartphone adoption

“Prominent video game developers are increasingly focusing on providing highly sophisticated interface experiences by including advancements such as AI, VR and augmented reality, which will spur numerous innovations in forthcoming years,” comments a Senior Research Analyst.

Competitive Landscape

Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advances for cancer screening, mergers, and acquisitions.

  • In June 2016, Tencent announced the acquisition of 85% ownership of Supercell, the massively profitable Finnish firm behind hit game Clash of Clans, for around $8.6 billion.
  • In March 2021, Microsoft finalized its US$7.5 Bn deal to acquire ZeniMax Media, the parent company of Doom and Fallout studio Bethesda Softworks. The finalization comes just a day after Microsoft secured regulatory approval from the EU for the acquisition, and it will now bolster the company’s first-party Xbox games studios up to a total of 23.

These insights are based on a report on Video Games Market by Fact.MR.

Gaming

Azerion Acquires PubGalaxy and Inskin Media

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Gaming advertising firm Azerion has acquired digital monetization platform PubGalaxy and digital ad agency Inskin Media.

Following the recent buyout of French ad agency Sublime, Azerion has continued on its expansion and consolidation plans buying a further two European agencies.

Headquartered in Sofia, PubGalaxy is to assist Azerion with its monetization strategies and facilitate partnerships between publishers and advertisers. Azerion hopes the partnership will give its publishers access to cost-effective and bespoke monetization deals.

The decade-old firm started out as a digital publisher before developing into an ad revenue optimization platform that has a strong track record in managing high-value clients.

“As a historical digital publisher, our teams know the publishing industry inside out. Some of the biggest publishers have already entrusted us with their monetization strategies, as we strive to devise the most effective ways to maximize their ad revenues,” Ivan Ivanov, CEO of PubGalaxy, said.

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Gaming

Opera GX blasts off with Operius, the new arcade space shooter to play in the browser when your WiFi is gone

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Opera GX blasts off with Operius, the new arcade space shooter to play in the browser when your WiFi is gone
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No WiFi? No problem! Created in GameMaker Studio 2, Operius has won the Game Jam to become the Opera GX Browser’s first offline mode game and is playable starting now

We’ve all experienced the unexplainable horror of having to deal with some flakey internet connections. In those moments where the WiFi is gone, Operius will help take your mind off your frustration with its fast-paced arcade gameplay. Created in the game creation suite GameMaker Studio 2, Operius is playable in the Opera GX browser today. The game will appear whenever your network crashes. Those with a stable connection who really want to try Operius, can simply type opera://operius in Opera GX’s address bar.

Designed by Mors, Operius is set in a world where all of the world’s computers simultaneously lose their connection to the internet, with a strange UFO that is hovering in the sky appearing to be the cause of the outage. The only way to restore the planet’s internet is to navigate through the inner workings of the UFO and take it down from the inside, a task that involves shooting hordes of alien invaders and dodging obstacles to advance to the next level.

In July, Opera GX launched its “No Internet” Game Jam to find the game that would keep its audience of more than 10 million gamers entertained whenever they lose their connection. With more than 900 entries, all created in GameMaker Studio 2, the competition was ferocious. But one game, Operius, elevated itself above the rest and emerged triumphant after topping the public polls that saw eight hand-picked games garner over 100,000 votes from the Opera GX and GameMaker communities.

Operius features razor-sharp, retro-inspired vector graphics which pay homage to the great space-based arcade shooters of the eighties with a pulsating high-adrenaline soundtrack written by Catonator. Being offline doesn’t mean you can’t play together: Operius features an offline two player mode: all you need to do is share your keyboard with another person and enter the two player mode.

‘We believe gamers deserve a better game than jumping dinosaurs or surfers. That’s why we started the Opera GX game jam and found Operius. Operius is a highly addictive ultimate offline game to rule them all,” said Maciej Kocemba, Head of Opera GX.

“With Operius, I wanted to make a fun arcade-inspired shooter to take the players’ minds off being offline and perhaps even make them forget they were supposed to get back online in the first place,” said Mors.

‘In creating the shortlist, we were looking for a game that’s fun to play, looks and sounds fun and, most importantly, that you want to play over and over again,’ added Kocemba.

Alongside becoming the new offline game in Opera GX and saving many a gamer from what is otherwise an incredibly frustrating experience, Operius developer Mors, also receives a $10k cash prize. Two runners up Aliens Stole My WiFi and Nettie & Settie Save the Internet also each receive cash prizes of $7k and $3k respectively.

Luckily, users won’t have to rip out their router to play Operius, as it is available to play when you don’t have connection issues in GXC. GXC is Opera’s upcoming self-publishing platform and will allow indie game makers to publish their GameMaker Studio creations directly to the platform and for free – for other users to enjoy and give instant feedback. Operius, as well as Aliens Stole My WiFi and Nettie & Settie Save the Internet will be available in GXC.

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Jagex announces partnership with indie studio Games by Malcs to publish Melvor Idle, a RuneScape-inspired idle game

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Jagex announces partnership with indie studio Games by Malcs to publish Melvor Idle, a RuneScape-inspired idle game
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Leading British video game publisher and developer Jagex, creator of the iconic living game RuneScape franchise, today announced that it will be working with indie developer Brendan Malcolm to publish Melvor Idle under the Jagex Partners banner. Currently in Early Access, Melvor Idle is a game heavily inspired by Jagex’s renowned RuneScape franchise and has already been downloaded more than 600,000 times across Steam, App Store and Google Play.

The brainchild of Australian solo developer Brendan Malcolm, a player of RuneScape since his youth, Melvor Idle was devised as a means of reimagining the core components of the RuneScape franchise in a way that they could be enjoyed casually, fitting around the busy schedule of his adult life. Taking inspiration from the setting, skills, combat and mechanics of RuneScape, he distilled the core components down into an idle game in the same vein as games such as Clicker Heroes and Egg Inc.

Jagex first became aware of Melvor Idle in early 2020, and was hugely impressed with the game, realising there was a significant opportunity to help support the game’s future development, and to reward a fan-made passion project and bring it to the attention of RuneScape players around the world. The game will come out of Early Access and release officially this November.

Chris Pfeiffer, Director of Product Management for Jagex Partners, said: “We are incredibly excited to be publishing Melvor Idle. Every once in a while, we come across a game and a developer that is so well aligned with our core values that it seems a natural fit for Jagex Partners. With so many of our staff being fans of the game, and seeing what Brendan has been able to achieve as a solo developer inspired by the games we have been developing for 20 years is truly magical. We very much look forward to using the skills and experience we have at Jagex Partners to support the future development of Melvor Idle, leveraging our marketing, communications and localisation resources to make sure the game reaches the widest possible audience and its full potential.”

Brendan Malcolm, Games by Malcs founder and the creator of Melvor Idle, said: “Being able to work with Jagex directly on this has been a dream come true. I never would have imagined when I started development on Melvor Idle back in 2018 that I would eventually receive the support of the very studio that inspired me in the first place. The support this partnership has provided me will not only enable me to reach even more players with Melvor Idle, but will help me really establish Games by Malcs as an up-and-coming studio with an office in Perth, Australia. I can’t wait to work with Jagex on making Melvor Idle an even bigger success than I had hoped for.”

Melvor Idle is currently in Early Access on Steam (with 93% positive reviews*) and will be launched in November priced at $9.99 / £7.19 / €8.19. The game is also free to try on iOS (4.9/5 review score*) and Android (4.8/5 review score*) with in-app purchase for the full version.

Melvor Idle is the game announced by Jagex Partners, with Space Punks, developed by Flying Wild Hog, currently in Early Access on Epic Games Store.

Jeff Pabst, Vice-President of Third-Party & Partnerships, said: “Jagex Partners continues its focus on becoming the go-to publisher for living games developers around the world. However, great community-led games like Melvor Idle have inspired us to broaden our search for development partners to include games that represent the community-first ethos Jagex has always followed. We look forward to more announcements as we close out the year and push onwards to 2022 and beyond.”

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