Tuesday, June 16, 2020

Video Games Emerge as a Multi-Media Platform

Even before the pandemic, video games were big business. In 2019, U.S. video game content generated $35.4 billion in revenue, with esports adding another $950 million. During the pandemic, games such as Nintendo’s Animal Crossing have provided a welcome diversion. All this activity is leading to video game platforms evolving into major outlets for socializing and media distribution. Witness Travis Scott’s recent concert in the Fortnite gaming world.

Now [video game platforms are] pushing to become true media hubs, where entire albums may be distributed exclusively, and socializing is just as important as gaming. Even as people begin to emerge from pandemic lockdowns—and can get up from the couch—video games look to bolster their status as the new kings of communication.

Gamification was a hot trend in the early part of the last decade. It never completely caught on as a business practice, but there were valid reasons that it had such high appeal. Gaming has a unique way of rewarding progress, and it also fosters a sense of community. That community component, especially in a world with social distancing, leads to strong platform capabilities.

The possibilities for gaming platforms are interesting. They can be an outlet for content that is currently hampered by restrictions, such as movies or concerts. They are obviously a prime location for advertising. And they could be part of a strategy for virtual events or conferences. Many people may remember early virtual meeting places (such as Second Life) as being somewhat crude, but things have improved, and the current generation of gamers is more comfortable interacting online. Whatever direction society takes after the pandemic, gaming platforms have potential that cannot be ignored.
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