Online games have seen a surge in popularity
The online gaming market has taken off in the last few years—so much so that fanatics don’t mind paying even $200 for a ticket in an arena to watch their favorite online gamers play in, say, the Overwatch League Grand Finals.
Online games are increasingly being played on mobile platforms rather than on PCs or consoles. According to research company eMarketer, mobile-based gamers make up a whopping 88.8% of digital gamers and span all ages.
What’s more, according to the research company’s forecasts, as many as 147.8 million people in the United States will play games on their mobile phones compared to the 91 million who will play games on consoles by the end of 2019.
Increased popularity has attracted marketers’ attention
Several reports from the likes of SensorTower suggest that on average, online game apps earn much more than nongame apps. Apple receives a 30% cut of the amount consumers spend on in-game purchases.
Chinese tech giant Tencent (TCEHY), the leading gaming company in the world, has generated huge revenue by developing online games. However, Tencent has hit a snag in recent quarters in the form of Chinese regulators slowing down the licensing process for social reasons.
The increasing popularity of mobile gaming is attracting the attention of marketers, according to eMarketer.