How much is spent in the gaming industry?

WASHINGTON, D.C., JAN. 17, 2023 – Overall total consumer spending on video games in the United States totaled $56.6 billion in 2022 as video game sales stabilize following back-to-back record years in 2020 and 2021, according to new data released today by the Entertainment Software Association

Entertainment Software Association

The Entertainment Software Association (ESA) is where the major players of the video game industry work together to support the bright future of video games. The video game industry is one of America's fastest growing industries.

https://www.theesa.com › about-esa

About The ESA - Entertainment Software Association

(ESA) and The NPD Group

The NPD Group

The NPD Group, Inc.

(NPD; formerly National Purchase Diary Panel Inc. and NPD Research Inc.) is an American market research company founded on September 28, 1966, and based in Port Washington, New York.

https://en.wikipedia.org › wiki › The_NPD_Group

The NPD Group - Wikipedia

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How much money is spent on gaming each year?

Consumer spending on video game content in the U.S. 2010-2022. In 2022, total U.S. consumer spending on video game content amounted to 47.5 billion U.S. dollars, a seven percent decrease from 51.69 billion U.S. dollars in the preceding year. Video game spending surged in 2020 due to the COVID-19 pandemic.

How much money is the US gaming industry worth?

In 2022, the video game market size in the United States was estimated to be 97.67 billion U.S. dollars, setting a new all-time industry record.

How much money do people spend on gaming?

Monthly consumer spending on video games in the U.S. 2019-2022. In 2022, gaming audiences in the United States spent an average of 23.87 U.S. dollars on video games per month, up from 19.94 U.S. dollars per month in 2019. In July 2022, the retail gaming revenue in the United States amounted to 4.18 billion U.S. dollars ...

How much money is spent on video games worldwide?

Research from Ampere Analysis indicated three points: the sector has consistently grown since at least 2015 and expanded 26% from 2019 to 2021, to a record $191 billion; the global games and services market is forecast to shrink 1.2% annually to $188 billion in 2022; the industry is not recession-proof.

The Gaming Industry | Start Here

Is the gaming industry bigger than sports?

The video game industry has grown to be bigger than the sports and movie industry combined, MarketWatch reported Tuesday. The news outlet reported that global video game revenue is expected to increase 20 percent in 2020, making $179.7 billion, according to data from IDC.

How much of the economy is video games?

The U.S. video game industry generated $90.3 billion in annual economic output in 2019 while supporting nearly 429,000 U.S. jobs. The latter number includes about 143,000 people directly employed by the video game industry, averaging over $121,000 in annual compensation.

How big is the gaming economy?

The largest segment is Mobile Games with a market volume of US$315.90bn in 2023. In global comparison, most revenue will be generated in China (US$107,300.00m in 2023). The average revenue per user (ARPU) in the Video Games segment is projected to amount to US$140.20 in 2023.

How much money is spent on video games in the US?

WASHINGTON, D.C., JAN. 17, 2023 – Overall total consumer spending on video games in the United States totaled $56.6 billion in 2022 as video game sales stabilize following back-to-back record years in 2020 and 2021, according to new data released today by the Entertainment Software Association (ESA) and The NPD Group.

What age group spends the most on games?

15-24 years old - 22% 25-34 years old - 20% 35-44 years old - 16% 45-64 years old - 23%

Who is the richest person in gaming industry?

PewDewPie is the world's wealthiest gamer. He has a net worth of $55 million and is the most popular YouTuber, with over 108 million subscribers.

Is the gaming industry bigger than Hollywood?

Just in 2021, the Global “Games Market” had a whopping $180BN in revenue. In fact, Gaming is bigger than Hollywood and the music industry combined. Top games are earning more than the big blockbusters.

Who is the richest gamer in the US?

The highest awarding game was Fortnite with $44,517,040.58 USD won, making up 19.59% of all earnings by American players. Kyle "Bugha" Giersdorf is the highest earning American player with $3,503,911.72 USD in prize money won overall, with $3,491,245.05 USD or 99.64% won from playing in Fortnite tournaments.

What's the most money spent on a game?

With a huge budget of $265 million, Grand Theft Auto V has surpassed every expectation laid out before it, actually making more than any movie ever made. It started development in 2008 right after the release of its previous entry, Grand Theft Auto IV.

Who spends the most on video games?

Millennials spend the most out of all gamers at roughly $86 per month and $66,000 per lifetime. That makes sense as Millennials make more money than Gen Z and grew up in a world where gaming was already a multi-billion dollar industry.

How much profit does the gaming industry make?

In 2020, the gaming industry generated $155 billion in revenue, By 2025, analysts predict the industry will generate more than $260 billion in revenue. 1 As such, tech companies are looking to get involved in this revenue stream.

How big is the US game industry?

Revenue in the Video Games segment is projected to reach US$89.57bn in 2023. Revenue is expected to show an annual growth rate (CAGR 2023-2027) of 7.83%, resulting in a projected market volume of US$121.10bn by 2027.

Is gaming good for the economy?

The gaming industry supports a total economic impact including: $261.4 billion of output (business sales) 1.8 million jobs with $74.0 billion of labor income (wages, salaries, tips, benefits and other labor income) $40.8 billion of federal, state and local taxes, including $10.7 billion of gaming taxes.

What is the largest entertainment industry?

What's the biggest sector of the U.S. Media and Entertainment industry? Streaming services are by far the largest sector of the U.S. Media and Entertainment industry. In total, annual video revenue is projected to reach $316.1 billion in 2023 and is poised to reach $462.9billion by 2027.

Is gaming a billion dollar industry?

Forecasted Growth of Video Game Revenue from 2022 to 2030

With a compound annual growth rate (CAGR) of 12.9%, the gaming industry is expected to generate $249.32 billion in 2023 and up to $583.69 billion in 2030.

Is gaming recession proof?

Gamers were eager to purchase new consoles and games during the 2008 financial crisis, which defined the industry as virtually recession-proof. However, if the US is approaching another recession, customer interest is likely to plummet if the industry's public reputation remains mediocre.

Is gaming a growing industry?

Video Game Industry Ad Revenue

US mobile gaming ad spend will grow 10.0% to $6.28 billion in 2023 and continue to grow by between 8% and 10% over the next few years, according to our forecast.