Video game sales were explosive in 2020. In fact, for full-year 2020, video game spending just in the U.S. totaled $56.9 billion - up 27% year over year, according to NPD. About $7.7 billion of that was spent in December 2020 – the highest sales figure ever recorded for that month.
From here, video game sales could grow even more with big demand and a massive gaming community. Of the total population of 7.7 billion people in the world, according to Financial Post, it’s estimated that a third of the population are gamers.
With those catalysts showing no signs of cooling, it was no surprise to see companies like Activision Blizzard (NASDAQ:ATVI) given an upbeat outlook for 2021 and 2022. All thanks to video game franchises, such as Call of Duty, World of Warcraft, and Candy Crush.
According to Bloomberg, “Revenue this quarter will be $1.75 billion, excluding some items, the company said Thursday, compared with the $1.68 billion predicted by analysts. Its annual forecast also topped estimates, and Activision said 2022 will benefit from a flurry of new game releases. Activision’s board also increased the dividend 15% to 47 cents a share, payable on May 6. And it embarked on a new two-year stock repurchase program of as much as $4 billion.”
Pay very close attention to video game stocks. Many have big potential going forward.
Other companies benefiting, include Take Two Interactive Software (NASDAQ:TTWO), Electronic Arts Inc. (NASDAQ:EA), and Nintendo Co. Ltd. (OTC:NTDOY).
It’s Also Great for Enthusiast Gaming Holdings Inc. (TSX:EGLX)(OTCQB:ENGMF)
The video game industry is worth more than US$150 billion globally and eclipses the movie and music industries combined. With continued growth and interest from nearly every age range and background, people and brands are taking note of the incredible opportunities that exist by using gaming and digital communications to reach broader audiences, says Enthusiast Gaming.
Canada’s pre-eminent public affairs podium, The Canadian Club Toronto, hosted an expert panel today featuring Adrian Montgomery, Chief Executive Officer, Enthusiast Gaming; Heidi Browning, Chief Marketing Officer, National Hockey League; and Allison Stern, Digital Partnerships Manager, Biden-Harris 2020 Campaign. Amanda Lang, host of Bloomberg Markets on BNN Bloomberg, moderated the discussion.
These industry leaders shared how they’re shaping strategies, empowering marketers and influencing public behavior through digital means and emerging technologies. They also discussed how they’re leveraging the popularity of video games, social media and digital communications tools to get their message out to one of the most lucrative and influential demographics: Gen Z and Millennials.
“It was a sincere pleasure to join these esteemed marketing leaders today to discuss the power and influence of video games,” said Adrian Montgomery, CEO of Enthusiast Gaming. “It was an honour to be part of this panel next to one of the longest-standing sports organizations, the NHL, and one of the most forward-thinking political campaigns, the Biden-Harris 2020 Campaign. It’s clear that gaming goes beyond consoles and headsets and offers brands a powerful new way to reach young customers and drive ongoing brand engagement.”
As the multi-billion-dollar video game industry continues to expand, it has become a critical conduit for reaching younger Canadians, many of whom have chosen gaming as a sort of social network through which to communicate. In a world where people crave community and connection, gaming meets those needs via any device, anywhere. Young people have found their place and space, offering a world of potential for brands and people trying to reach this specific age group.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Enthusiast Gaming Holdings Inc. by a third party. We own ZERO shares of Enthusiast Gaming Holdings Inc. Please click here for full disclaimer.
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