The gaming industry has changed drastically these past few years, with mobile games rapidly becoming the most profitable sector in the industry. Despite criticisms that mobile games cater to the lowest common denominator, or perhaps because of these factors, mobile games now receive 60% of total gaming spends from consumers with all things having been considered and taken into account. That is more than triple the revenue that home gaming consoles are expected to bring in, or 320% to be precise.
With all of that having been said and now out of the way, it is important to note that mobile games alone are projected to bring in around $21.4 billion in revenue in the second quarter of 2022. It seems like the massive boom that this industry experienced a couple of years ago which was spurred by the pandemic is continuing to hold firm even though many expected demand to subside as consumers returned to normal habits.
The wider reach of mobile games are strongly contributing to their rise because of the fact that this is the sort of thing that could potentially end up allowing more people to enjoy games instead of this product being restricted to a specific niche. The biggest dollar growth in revenue was seen by MMORPGs, or Massively Multiplayer Online Roleplaying Games, which saw consumer spends inching ever close to the $400 million mark this quarter.
Multiplayer online battle arena games, or MOBA for short, saw slightly less revenue growth at approximately $360 million for the quarter. In spite of the fact that this is the case, the percentage growth that these games have seen in terms of consumer spend far outstrips that of any other gaming subgenre on the market. MOBA games saw a massive 55% growth in consumer spends, something that might lead to them becoming the dominant revenue earners due to their growth rates being higher than that of MMORPGs.
MMORPGs already have a large chunk of the market, so their growth rate is understandably going to be hindered by their current state of market saturation. Gaming subgenres that have not reached the same level of popularity as of yet will see stronger growth rates, such as the Action RPG genre whose 30% growth rate outstripped the 20% rate of growth seen by MMORPGs.
The total growth rate for mobile games is 30% since the last second quarter report that came in prior to the pandemic. Based on these trends, it is projected that the total revenue brought in by gaming apps will surpass $136 billion before the year is out. It seems like consumers have already adjusted to the new normal that was established during the peak of the pandemic, and their preferences are not looking to subside in the near future.
This seems to suggest that mobile gaming will increase the gap between itself and home based gaming consoles when it comes to consumer spending and revenue. Their ease of access has a role to play in that, since consumers don’t have to buy a brand new device to be able to play these games since they can just download them on their personal smartphones.
H/T: DataAI
Read next: App Market Reaches New Heights in Q2 2022, on Course for $33 Billion Consumer Spend and 34 Billion Downloads
With all of that having been said and now out of the way, it is important to note that mobile games alone are projected to bring in around $21.4 billion in revenue in the second quarter of 2022. It seems like the massive boom that this industry experienced a couple of years ago which was spurred by the pandemic is continuing to hold firm even though many expected demand to subside as consumers returned to normal habits.
The wider reach of mobile games are strongly contributing to their rise because of the fact that this is the sort of thing that could potentially end up allowing more people to enjoy games instead of this product being restricted to a specific niche. The biggest dollar growth in revenue was seen by MMORPGs, or Massively Multiplayer Online Roleplaying Games, which saw consumer spends inching ever close to the $400 million mark this quarter.
Multiplayer online battle arena games, or MOBA for short, saw slightly less revenue growth at approximately $360 million for the quarter. In spite of the fact that this is the case, the percentage growth that these games have seen in terms of consumer spend far outstrips that of any other gaming subgenre on the market. MOBA games saw a massive 55% growth in consumer spends, something that might lead to them becoming the dominant revenue earners due to their growth rates being higher than that of MMORPGs.
MMORPGs already have a large chunk of the market, so their growth rate is understandably going to be hindered by their current state of market saturation. Gaming subgenres that have not reached the same level of popularity as of yet will see stronger growth rates, such as the Action RPG genre whose 30% growth rate outstripped the 20% rate of growth seen by MMORPGs.
The total growth rate for mobile games is 30% since the last second quarter report that came in prior to the pandemic. Based on these trends, it is projected that the total revenue brought in by gaming apps will surpass $136 billion before the year is out. It seems like consumers have already adjusted to the new normal that was established during the peak of the pandemic, and their preferences are not looking to subside in the near future.
This seems to suggest that mobile gaming will increase the gap between itself and home based gaming consoles when it comes to consumer spending and revenue. Their ease of access has a role to play in that, since consumers don’t have to buy a brand new device to be able to play these games since they can just download them on their personal smartphones.
H/T: DataAI
Read next: App Market Reaches New Heights in Q2 2022, on Course for $33 Billion Consumer Spend and 34 Billion Downloads
