The Success of the Gaming Industry Literature & Language Essay (Essay Sample)
The Success of the Gaming Industrysource..
The Success of the Gaming Industry
The gaming industry, which broadly refers to the sector of the economy engaged in the developed, marketing and commercialization of mobile and video games for entertainment, has experienced a boom in recent years. For instance, studies indicate that the video games industry is now comparable to both the movie and the music industries (Martin, 2011). The industry has grown from a relatively fringe activity within the larger economic sector around four decades ago, to a mainstream sector that now accounts for a large part of the economy (Martin, 2011). This paper argues that the prosperity witnessed in the gaming industry is attributable to a variety of factors which include: the relative agility of the music industry in terms of technology and business model compared to other entertainment sectors; the rise and improvement of the internet; and the availability of funding and support to the gaming industry among others.
One of the factors that has had a significant and positive impact on the gaming industry is the agility and ability of gamers to adapt in terms of forward thinking and technology. In particular, the production of mobile and video games that constitutes the vast majority of the gaming industry can be easily adjusted to reflect the market demand. For instance, where there is a slump in market sales, gamers in the industry are usually able to cut down on production thereby limiting the losses suffered. This agility is rarely witnessed in other entertainment industries such as the music and movie industries, a feature that has given the gaming industry a competitive edge over her competitors in the entertainment sector (Smith, 2011).
Secondly, the rise and improvement of the broadband internet has led to the success of the gaming industry as it has enabled developers to distribute their products digitally as opposed to distributing them in hard copies (Stuart, 2016). The upshot of this innovation has been a substantial reduction in manufacturing and distribution costs that erstwhile constituted a significant portion of expenses. In addition, technological innovation which has led to the development of new applications has rendered unnecessary the need to know how to code games among consumers. The consequence of the rise of the internet and technological innovation has been a radical shift in the operation of the gaming business, which move has contributed to its notable success (Stuart, 2016).
Thirdly, the availability of funding and support to the gaming industry has contributed to the prosperity of the industry. For instance, organisations such as GamesLab and BetaJester have availed grants to fund virtual reality games and enable conduct of workshops aimed at marketing, pitching, mentorship and networking (Pay, 2017). These forms of financial support have created a platform for gamer
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