In brief: Video games have grown from what was once a hobby viewed by many as niche or only for children to the highest-grossing entertainment industry. That change has resulted in many people making a living from streaming or posting videos of games. According to new research, gamers now spend more time watching their favorite titles on various platforms than actually playing them.
Hundreds of billions of hours of gaming videos are viewed on YouTube and Twitch every year, and that figure is increasing all the time. According to a new report by Midia Research (via gamesindustry.biz), watching games is becoming more popular than playing them.
The report found that gamers typically spend 7.4 hours each week gaming, just over an hour less than the 8.5 hours they spend watching game-related videos. The data is based on a survey of people in the US, UK, Australia, Canada, Germany, France, Sweden, South Korea, and Brazil.
Midia says that the findings highlight the untapped potential for game publishers to bring video content inside their own ecosystems. It adds that 24% of console/PC players and 48% of in-game buyers watch game-related content at least monthly, with the latter considered high-spending gamers.
The report's authors believe that this trend is a potential extra revenue source being missed by game developers, especially when it comes to advertising on third-party video platforms.
Midia writes that game publishers and distributors should develop their own game content platforms to compete with YouTube and Twitch. It suggests that placing video content inside of games or owned libraries of games will unlock new revenue streams at a time when the games market is, according to the company, stagnating.
The rising popularity of eSports is also having an impact on video game viewing habits. The League of Legends Worlds 2024 attracted over 6.4 million viewers, making it the most-viewed eSports event of all time.
The video game industry generated revenue of about $196 billion in 2023, more than streaming and box-office sales combined. It's predicted to grow another 6% in 2024, and reach $250 billion by 2028.
Masthead: Sean Do