U.S. Spending on Video Games Catapults to $25 Billion During Pandemic
After an exhausting election week, I hope everyone is doing well. Although President-elect Biden says we're in for a "dark winter" before vaccines are rolled out early next year, business couldn't be any brighter not only Entropy Media, but also for the video game industry as a whole.
According to a recent analysis by Global X, a highly respected exchange-traded funds investment firm, sales for the next 12 months will be more than 25% higher than the previous year. At this growth, U.S. spending on video games will be at $50 billion this year. That's remarkable, despite the economic difficulties that COVID-19 has presented the United States. More than 2 billion people worldwide play video games, and according to a recent Oxford University study, video games improves mental health too.
Pedro Palandrani, research analyst with Global X, states:
"We see more than just COVID-induced momentum. For many, video games also became their new social media outlets. As video games continue to expand their audience and add additional features, it is emerging as potentially the next generation of the internet; a metaverse filled with millions of users interacting in a truly life-like virtual reality."
Helping spur interest in games: this month's arrival of new video game consoles from Microsoft and Sony. Microsoft's Xbox Series X and Series S consoles arrive on Nov. 10. Sony's PlayStation 5 and PS5 digital console hit on Nov. 12.
With thousands of hours spent on research and development of Entropy Media's original content, our intellectual property is geared to be a successful AAA video game. Also, our PS5, Xbox and PC Entropy video game includes an eSports gaming level, specifically tailored for popular leagues like Super League Gaming.
We're ecstatic to provide more information regarding EM Digital, our video game division. For more information regarding this and content acquisition of EM's intellectual property, reach out to our senior counsel Joseph Lanius at 310.702.8108 and email@example.com.