The United Kingdom is a pretty big market for entertainment media, which is why it's pretty interesting to see that video games will soon account for more than 50% of the U.K. entertainment market:
Almost every sector (Online Games, Mobile Games, Consoles Download Games, Gaming Network, and PC Games) of the U.K. gaming industry market is growing. According to this research, the video gaming market in the United Kingdom is one of the largest in Europe. According to this research, by the year 2026, United Kingdom Video Game Market will be US$ 3.7 billion in revenue.
That's a lot of dough. Video games have always been popular in the U.K., but with COVID-19 there's been renewed interest in the video gaming industry. Sales of gaming consoles has also improved year-over-year from 2019 to 2020, with video games being the most popular among age groups 25-34 and 35-44 compared to the 18-24, 45-54, and 55-64 age groups.
The report is 150 pages and can be found here if you're interested, although you have to pay a decent chunk of change for a Single User License: $1,990. That's $13.26 per page, so if you buy it I hope you really enjoy every word of the analysis. Companies mentioned in the analysis include Keywords Studios, Codemasters, Frontier Developments, Sumo Group, and Team 17.
This is very interesting. Video games are still a fairly new medium, and to see them overtake pretty much everything else in the entertainment sector in a big country like the U.K. is a sign of things to come in my opinion. That doesn't mean that things like movies and T.V. shows are doomed or anything, but video games are only going to become more and more popular over time rather than less popular, leading to headlines like this one. We'll have to see how long it takes before we see similar articles for the United States, but I think it'll be sooner rather than later.
What do you think of this news? Do these findings make sense to you? Do you think it'll go much higher than 50%? Let us know in the comments!