Online Games to Hit $18.1bn in Revenue in 2020, a $1.2bn Jump in a Year

Must Read

List of United Bank for Africa (UBA) Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...
- Advertisement -

As the second-largest revenue stream of the global gaming industry, online games continue generating millions of dollars in profit from its huge player base. According to data presented by SafeBettingSites, the entire online games segment is expected to hit $18.1bn in revenue in 2020, a $1.2bn increase year-on-year.

The Number of Users to Touch 1 Billion by 2022

The online games market refers to multiplayer internet gaming and social gaming directly in the net browser or through applications. This segment of the gaming industry includes subscription-based titles like World of Warcraft and free-to-play games with additional in-game buys like Fortnite.

Online Games to Hit $18.1bn in Revenue in 2020, a $1.2bn Jump in a Year
Photo by Mark Cruz

In 2017, the revenue of the global online games segment amounted to $16.7bn, 2.6 times less than mobile games, and $2.7bn more compared to download games revealed the Statista Digital Market Outlook. The following years have witnessed a steady growth of the global online gaming revenues, with the figure rising by nearly 9% between 2017 and 2020.

- Advertisement -

Statistics indicate the number of people playing online games also significantly increased in the last three years. In 2017, there were 731.2 million players globally. Since then, the number of users grew by 27%, reaching 931.7 million in 2020, a 12.7% increase year-on-year.

Read Also:  Registration Now Open for 8th Edition of Nigerian Entertainment Conference (NECLive)

According to a Statista survey, Millennials (people between 25 to 34) and Gen Z (between 18 and 24) represent the major user groups, with 37% and 22% share. By 2022, the number of people playing online games is forecast to jump over one billion worldwide, with user penetration of 13.4%.

China is the Leading Online Games Market

Although the number of users in the online games segment is set to increase in the following years, statistics show the average revenue per user has been affected by a downsizing trend. In 2017, the average revenue per user amounted to $22.85. In the last three years, this figure plunged 14% to $19.53 in 2020.

Read Also:  PHOTOS NEWS: LAGOSIANS CELEBRATE ON EASTER MONDAY AT JOHNSON JAKANDE TINUBU (JJT) PARK, IKEJA

Analyzed by geography, China represents the leading online games market globally, with more than $4.5bn in revenue in 2020. The United States ranked second, with a $3.8 billion profit this year. Japanese online gamers are expected to generate over $3bn in revenue in 2020. South Korea and the United Kingdom follow with $1.3bn and $935 million in revenue, respectively.

- Advertisement -
Online Games to Hit $18.1bn in Revenue in 2020, a $1.2bn Jump in a Year - Brand SpurOnline Games to Hit $18.1bn in Revenue in 2020, a $1.2bn Jump in a Year - Brand Spur

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Online Games to Hit $18.1bn in Revenue in 2020, a $1.2bn Jump in a Year - Brand SpurOnline Games to Hit $18.1bn in Revenue in 2020, a $1.2bn Jump in a Year - Brand Spur

Latest News

5 Ways Your Data Could Be Hurting Customer Retention

According to a now-classic article in the Harvard Business ReviewExternal Website. Opens New Window, depending on the study and...

Okomu Oil Palm Generated N20.50bn Revenue…PAT up by 46.28%

Okomu Oil Palm Company PLC 2020 year-end financials show a significant 24.08% revenue growth when compared to the full year 2019 turnover. This was...

Flour Mills of Nigeria continues its strong performance with Q3 results ahead of the first two quarters and solid growth in all segments

January 26, 2021 - Flour Mills of Nigeria Plc, Nigeria’s leading integrated food business and agro-allied group, owners of the iconic food brand -...

Nearly 60% of Global Bank Rating Outlooks Are Still Negative

Fitch Ratings - 26 January 2021: A newly-updated interactive country-by-country map of bank rating trends from Fitch Ratings shows that nearly 60% of bank...

MPC Leaves All Rates Unchanged

At the end of the two-day bi-monthly MPC meeting, all policy levers were maintained following a unanimous vote of all members of the committee. ...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Online Games to Hit $18.1bn in Revenue in 2020, a $1.2bn Jump in a Year - Brand SpurOnline Games to Hit $18.1bn in Revenue in 2020, a $1.2bn Jump in a Year - Brand Spur