by in The entertainment industry has been skyrocketing in the past years, and it has thrived in these challenging times. Video gaming, as one of its integral parts, has also enjoyed steady growth. New technologies keep providing fuel to video gaming expansion, and the young population is keener on entering the gaming world. Live streaming attracts many video game fans, and we have investigated how it will grow next year.
Gaming Evolution
Various gaming types have been popular in the past decades, and with the technology advancements, the gaming experience has completely changed its landscape. The industry moved online, and gaming has become more immersive. All types of games, including casino game lovers, adapted to these changes quickly and can enjoy more thrill. Speaking about online casinos, players can spin the reels from their mobile devices anytime and anywhere. For example, Megaways online casinos offer flexibility and convenience, and players have more opportunities to hit high jackpots.
With the introduction of eSports, gaming is not considered a time-wasting hobby anymore. Viewership has dramatically increased over time, and professional eSports players can earn a lot of money just for playing video games. Of course, millions of gaming fans dream of becoming professional players one day. Nowadays, they can watch their favorite gamers play live without being in the gaming arena. Thanks to live streaming platforms, gaming has become more approachable to anyone, and it helped the gaming industry to expand quicker than anyone could predict.
Live Streaming Audience Growth
Newzoo predicts that the live-streaming audience will grow by more than 13% this year, almost reaching one billion. That magic line of one billion viewers should be crossed in 2023, while the audience should reach 1.4 billion by 2025. That is an increase of a CAGR of 16.3% since 2020. These figures show that the live-streaming market will continue its expansion and remain one of the biggest sources of entertainment for the young generations.
Twitch is still the most famous live-streaming platform, with 31 million visitors daily. This platform boasts around 20 billion hours of live gaming watched, and in 2021, it registered a 21% year-on-year growth. Therefore, Twitch is the most popular live-streaming platform in Western countries, and it is still resisting YouTube and others.
Newzoo predicts that the live-streaming audience will grow by more than 13% this year, almost reaching one billion. That magic line of one billion viewers should be crossed in 2023, while the audience should reach 1.4 billion by 2025. That is an increase of a CAGR of 16.3% since 2020. These figures show that the live-streaming market will continue its expansion and remain one of the biggest sources of entertainment for the young generations.
Twitch is still the most famous live-streaming platform, with 31 million visitors daily. This platform boasts around 20 billion hours of live gaming watched, and in 2021, it registered a 21% year-on-year growth. Therefore, Twitch is the most popular live-streaming platform in Western countries, and it is still resisting YouTube and others.
Which Emerging Markets Will Boost the Growth?
Besides console gaming, mobile gaming is gaining more popularity, and it should drive other regions outside Western countries to grow. Northern Africa, the Middle East, and Latin America should experience the biggest expansion of the live-streaming audience. Moreover, the expansion rate should be around 25% year-on-year in these regions, reaching more than 200 million.
Since these regions have a young population and new technologies have become more affordable, these trends will continue next year and toward 2025. Smartphones are more accessible to a wider population, while the network infrastructure is continuously improving. These factors have propelled mobile gaming, which is the most popular way of enjoying the gaming experience in these regions. Besides these three markets, the Chinese one continues to be the world’s largest when it comes to live-streaming audiences. It won’t stop growing and will contribute a lot to the live-streaming market expansion in 2023.
Who Are the Consumers in the Game Live-Streaming Market?
We have already said that, generally, young people build the live-streaming audience, and research confirms that. Around 60% of people that have been involved in the live-streaming gaming sector are 30 or younger. Almost the same percentage of the live-streaming audience identify as men, but it is not the guy’s sport as you may think. More than 45% of gamers in Asia are women, and their number has been increasing in the past years. Many factors have contributed to a higher presence of women in gaming, from the challenge and competition to social connections.
Regarding the economic power of the live-streaming gaming audience, more than three-quarters report a middle or high income. This is pretty disproportial compared to the general population, and these circumstances open new opportunities for consumer brands. With the right approach to live-streaming gaming fans, they can boost their brand’s presence and income. Genuine messaging, cooperation with the right influencers, a compelling narrative, and exploring popular markets can help brands launch successful campaigns and reach a wider audience.
Conclusion
Technology has reshaped many industries, and they enjoy various benefits thanks to these improvements. The entertainment sector plays an important role in anyone’s life nowadays since people want to de-stress in these challenging times. Video gaming is one of its integral parts, and the live-streaming market has become a crucial pillar in this sector. It will continue its growth in 2023, and if you think it is too late for you to get activated, you are wrong. Hundreds of millions of new fans will enter this market in the upcoming years, and it is never late to get involved in this exciting industry.
Technology continues to shape today’s world, and there is no industry that has not benefited from tech improvements. Of course, gaming is one of them, and people have more chances to entertain themselves than ever. Gaming is no more about old-fashioned consoles and games on physical carriers. Everything is digitalized, and the line between the real and virtual worlds has become very thin. Players can get themselves involved in augmented or virtual reality and get the full gaming experience. And the best part is that the advancements are yet to come.
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