The video gaming industry experienced tremendous growth during the COVID-19 pandemic. However, analysts expect its revenue growth rate has peaked and may decline before 2022.
Most revenues generated from online gaming come from free-to-play games monetized via ads or in-game purchases; this trend has transformed the gaming ecosystem and fostered new lifestyle habits among gamers sbobet.
Increased Spending
Video gaming experienced record growth during the COVID-19 pandemic, yet many are now returning to normal activities and questioning whether this surge will continue once they return home. Anthony Benites ’22 of Bentley Undergraduate Researcher Program fame is seeking answers through an independent arts and sciences project funded by Valente Center. Anthony has long been passionate about video games so it was only natural that he chose gaming as his field of research using funding provided through Valente Center’s Undergraduate Researcher Stipend Program which rewards student researchers undertaking arts and sciences-focused independent arts and sciences projects independently while Alain Chinca, senior lecturer in finance with whom he collaborates regularly, joined him to analyze effects of COVID-19 on pkv Agaming industry growth.
Researchers found that during the peak of the pandemic, players spent 29% more time playing video games than ever before in their lives. This increase can be partially attributed to stay-at-home directives which encouraged gamers to play online; as a result, there was an upsurge in streaming platforms like YouTube Gaming and Twitch as well as downloads/purchases on Steam, a video game distributor.
Researchers found that gaming engagement does not follow its usual circadian rhythm, which typically increases with weekends and rest days. Instead, due to pandemic, video gaming became an all-year activity – great news for gaming companies with revenue streams dependent upon in-game spending!
Increased Time Spent at Home
As many were forced to stay home during the COVID-19 pandemic, many needed new ways to pass time. Gaming industry witnessed significant growth during this time, as players spent more time playing. Although this increase meant increased revenue coming in from gamers, it may also have had negative repercussions for mental health overall.
Increased time spent playing video games may contribute to an increase in symptoms associated with gaming disorders such as compulsive or addictive gaming. Furthermore, excessive gaming may disrupt life and social activities leading to depression or anxiety for some individuals.
This is an urgent problem that must be addressed, particularly as the gaming industry expands and more people devote more of their free time to video gaming. To balance out their gaming time with activities like exercising, reading, and socializing.
Researchers from Oxford Internet Institute recently conducted a study analyzing the top 500 games on Steam – a video game distribution service – and discovered that gaming engagement during pandemic periods was higher than regular times, likely due to people being freer to access games during these times of no daily schedule commitment. They attribute this effect to people spending more time playing video games during such times.
Increased Mental Health
Even as COVID-19’s economic effects are felt, its mental health effects have also seen positive results. People have found ways to manage stress and depression by spending more time doing activities they enjoy; one such hobby includes playing video games – which has become an activity favored by many during this pandemic. Furthermore, gaming has increased across all countries not just those experiencing higher incidence rates for COVID-19.
The UK gaming industry has experienced rapid expansion during and since the pandemic, due to gamers spending both money and time on their hobby. They not only enjoy it, but are learning something from it as well.
Studies have demonstrated that video games can significantly lower anxiety and stress levels among gamers, particularly when played online in multiplayer mode. Furthermore, gamers have reported being able to use virtual world gaming as an escape when feeling anxious or depressed.
Gaming industry resilience during pandemic has spurred further interest, with numerous exchange-traded funds (ETFs) investing in video game market witnessing positive returns – prompting further investigation of its drivers, both financial and social.
Increased Social Interaction
In the UK, more than 36 million video game players spend between 11.1-13.6 hours each week playing video games – representing both money and time invested into this industry. It saw significant growth during COVID-19 pandemic; its growth should only continue going forward.
Although COVID-19 caused global financial markets to collapse, gaming and eSports industries did not bear as much of its brunt due to millions of people stuck at home needing entertainment and ways to pass time – giving gaming and eSports companies significant prominence throughout the first half of 2020.
Researchers have shown that video games can enhance social interactions and reduce feelings of isolation, so it is crucial to explore how the COVID-19 pandemic has altered online gaming and the effect video games may be having on an individual’s mental health.
This research seeks to explore the relationship between COVID-19 lockdowns and problematic internet use (PIU) among college students during and post-COVID-19 outbreak, and PIU. Furthermore, psychological distress as a mediator will also be examined as it plays an indirect role between IGD and PIU during and post-outbreak. Ultimately this should provide valuable information that will assist strategies aimed at decreasing IGD prevalence while simultaneously improving quality of life among vulnerable groups.
