Interesting: The video games sector now accounts for more than half of the UK’s entire entertainment market, according to a new report by the Entertainment Retailers Association (ERA).
The industry is worth £3.86bn ($4.85bn) – more than double its value in 2007, and makes it more lucrative than video and music combined. The games market has grown, despite the fact that the physical console and PC games market shrank slightly in 2018, and digital also had a modest 12.5% growth.
Despite being the youngest of our three sectors, Gaming is now by far the biggestKim Bayley
Chief executive of ERA, Kim Bayley said: “The games industry has been incredibly effective in taking advantage of the potential of digital technology to offer new and compelling forms of entertainment. Despite being the youngest of our three sectors, it is now by far the biggest.”
Piers Harding-Rolls, head of games research at IHS Markit said: “During the last five years the games sector has benefited hugely from the mainstream adoption of games apps on smart devices, and the transition from physical distribution to digital distribution in established parts of the market such as console gaming. Games are now truly mass market and a very important part of the entertainment sector.”