Case Study: Video Game Industry
by Bold Merchant Success on May 20, 2020
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Case Study: Video Game Industry |
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| "Thriving" isn't generally the first term that comes to mind when you think of today’s corona-impacted economic climate. However, for the $200 billion video game sector, "thriving" is the perfect descriptor for their current status. |
| While people have been stuck at home for the past several weeks, video games have provided comfort and distraction, and it shows. According to the NPD Group, total industry consumer spend in the US on video gaming for Q1 2020 increased by 9 percent from 2019, jumping to a record $10.86 billion. |
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The pandemic has had such a considerable impact on the success of the video game industry this year, that even as social restrictions potentially reduce in the coming months, the industry believes that it will benefit in the long-term from the new players they have won over this quarter.
The financial growth of the video game sector this quarter has also led to a major increase in job opportunities. According to Candor, while many companies are unfortunately facing layoffs and difficult furlough decisions at this time, almost all video games are actively hiring. Sledgehammer Games alone reported over 100 positions to fill. |
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