Video games already generate more income than music and movies

It was the arrival of video games in the entertainment industry bubble Which filled the front pages of all the economic media for its strength. This reality placed the sector above other industries such as music and film, which had monopolized entertainment and shows.

according to the data Digital Entertainment and Retail Association (ERA)collected by the goalAnd Video games accounted for 42.1% of total entertainment revenue in 2022, an increase of 2.3% compared to 2021.. These figures have caused the sector to reach a total of 5,421 million euros, which is a record high so far.

All this data indicates the amount of capital raised, which includes copies of video games, both in physical and digital format, consoles, additional content, in-app purchases, mobile games and online subscriptions – such as PlayStation Plus-.

The cinema, in turn, collects data on physical and digital sales and subscriptions flow It is not clear if ticket sales are consolidated. in the music sector, The data collects actual CD and vinyl sales, as well as subscriptions to services like Spotify and Apple Music.

In this last section, sales grew by 3% to 2,308 million euros, taking third place. However, it was not made clear if the tickets were for Offers And concerts of artists or if they are income outside the standards.

revenue through the platform

According to data from International Data Corporationhe won The worldwide video game industry will approach $200 billion, which is a 20% increase from 2019, Because the pandemic has been an exponential stimulus to the industry due to confinement. On the other hand, in 2022, the film and music industries together managed to reach $124.5 billion, about $80 billion less than video games.

However, the sale of consoles – with the arrival of the PlayStation 5, above all, and the continued growth of the Nintendo Switch – has led to an exponential increase in the sale of titles and commerce. but, The main point, where we find the greatest increase, we can know thanks to the addresses on mobile phones.

The latter increased its profits by 25% compared to the previous year, Expect revenues of $87.7 billion. This growth is due, above all, to the increase in micropayments in the Asia Pacific regions.

according to the data obtained the goall Statista, Newzoo, IFPI, and Motion Picture AssociationVideo games generated more than $ 192.7 billion in 2022, while the books that tracked them made in 2022 classificationgenerated 120.1 billion. Cinema 99 billion, music 25.9 billion Close the list.

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Economic data for Europe for video games

As we explained a few weeks ago in this diary, Spain does not have a great economic power in terms of profits compared to the rest of the European countries that make it up your palm (Germany, France, UK, Italy and Spain). However, the biggest difference is in regards to United States and Chinafrom They account for nearly 50% of the total revenue of the video game sectorThis is mainly due to the importance of studies of development, economic capacity, and population density in the two regions.

according to Data collected from Statista hereby, Spain is the fifth country in the video game market at the European level. The market is divided into two parts: Physical billing (hardware -units- Programming – video games, and their accessories -) f Invoices Connected (online platforms, applications and subscriptions to services).

With all this said, according to the AEVI yearbook, In 2022, Spain recorded a total sales volume of €2,012 million ($2,176 million)., is still very far behind our closest competitor. Germany’s turnover is $5,870 million. UK 5,310 million; France 4,130 million; and Italy, which is closest to us, 3290 million.

Spain is still at the bottom of the major countries in terms of revenue from the video game sector, but projects such as Esports – where Spain has a big impact with teams like Team Heretics, Koi or Giants-, or initiatives like Madrid In Game could tip the scales towards the national economy sooner rather than later.