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How Recent Events Impacted the Videogame Industry

We were horrified by the global news in the past couple of years, and as the COVID-19 pandemic spread, cities went into lockdown, businesses were forced to halt their operations, and we were compelled to stay at home to comply with social distancing and new health protocols.

Therefore, people were seeking new ways to occupy themselves while preserving social ties, as most of the world was forced to stay inside; and what was formerly thought to be isolating and unsociable is now considered as a tremendous form of entertainment, and even a promising educational tool - videogames.

According to recent studies, individuals played far more videogames during the pandemic, which allowed companies to prosper and even record significant growth rates despite the financial turmoil brought on by COVID-19.

To have a better sense of what transpired in the industry during these past couple of years, let's take a brief look at some facts and statistics about the gaming market and some of the new trends that recently emerged. But it's evident that with many of us stranded at home, the world rediscovered its passion for videogames.

Research and surveys

Last year, a study with 4,000 American adults conducted by Ipsos for the Entertainment Software Association concluded that 55 percent of those polled played more games during the pandemic, and 90 percent indicated they would continue to play once things returned to normal. The survey also discovered that videogames were a source of stress release for 55 percent of participants and somewhat of a distraction from world events for 48 percent.

The world’s largest online gaming marketplace, G2A.com, also conducted a series of surveys throughout 2021, and according to these studies, there was a 200 percent increase in the number of individuals over 60 years using the platform to purchase games, while 93 percent of people under 18 claimed to game on a regular basis. Similarly, the Ipsos study found out that 67 percent of US adults consider themselves gamers, while the average gamer is 31 years old.

Another poll, this one performed by online magazine Inverse with a sample size of 2,900 subscribers, sought to understand gamers' tendencies during this time period. According to it, 77.1 percent of respondents claimed they played more videogames than they did before the pandemic, and no one indicated they played less. Interestingly, the World Health Organization designated COVID-19 a pandemic on March 11, 2020, the day after Activision published Call of Duty: Warzone and a little more than a week before Nintendo launched Animal Crossing: New Horizons. According to the Inverse poll, 61 percent of individuals thought one of these two games was the most soothing in the early stages of quarantines and lockdowns.

According to the Ipsos poll, videogames are also used as an escape and break for children by 71 percent of parents polled. Furthermore, 59 percent of parents said that their children played educational games. However, some of the most intriguing numbers shed light on a contentious topic: gaming as an educational tool, with 66 percent of parents saying videogames aided in the transition to online learning.

New trends and practices

Another factor that has grown significantly during the epidemic is gaming's genuine value in the classroom. Another G2A.com poll conducted in 2021 discovered that over half of educators in the United States and the United Kingdom had turned to gaming to engage their students during spells of virtual learning, with 91 percent stating it has helped. Despite some incorrect views that gaming is a barrier to education, videogames have the potential to become a great tool for instructors and academic institutions through educational games and gamified learning processes.

We were encouraged to try out different genres and forms of gaming during this period, since we spent more time gaming than ever before. A good example of that is iGaming, an important sector in the gaming industry, and one of the few markets that were able to enjoy significant development in 2020 and 2021, as most land-based gambling venues were forced to close their doors. Many of the companies operating in North America and Europe like STS Casino reported significant growth in the number of new and returning customers, especially with the popularization of real-time gaming through live casino games and live game shows, as well as in-play sports betting.

Those without access to consoles or gaming PCs, on the other hand, were also able to participate in the gaming community and immerse themselves in it. According to research done by live streaming software supplier Streamlabs and Stream Hatchet, a live streaming data analytics agency, Twitch saw an 83 percent year-over-year increase in viewership following the pandemic, with over 21 billion hours of content watched in 2021.

Even while analysts and experts predict a decrease in time spent playing videogames, it's apparent that recent events have had a significant influence on the gaming world, and it's reasonable to assume that there will be plenty of reasons for gamers to stay interested in 2022.