Gaming recognized as the Most-Profitable Industry in the Entertainment Sector
Microsoft kicked off this week with a bang by announcing that it had acquired ZeniMax Media for a whopping $7.5 billion. However, it wasn’t until after the acquisition when many people got to know about Zenix Media.
People came to know that it’s the parent company of Bethesda, one of the most recognized privately-held video game development and publishing companies. Bethesda has given us countless memorable video game series including DOOM and Fallout.
A considerable part of the human population still thinks that video games are only enjoyed by children. However, that isn’t the case at all. The CEO of Microsoft, Satya Nadella, had some interesting words to say about gaming during the announcement of this game-changing deal. He put over gaming as a huge part of the entertainment industry which allows people from across the world to interact and play with their friends.
Moreover, Newzoo unveiled data that suggested that people from all over the world spent over $145 billion on mobile, console, and pc gaming in 2019. This figure easily surpasses the worldwide box office numbers ($42.5 billion, reported by Comscore) as well as the global music revenues ($20.2 billion, reported by IFPI). It will be interesting to see how Microsoft fares in the gaming industry in the years to come.