Gaming is one of the most popular hobbies and activities these days, as it is very addictive and fun. It is the best way to spend time and have fun playing your favorite games. The outbreak of the Covid-19 pandemic has various impacts on the gaming industry.
Some of them were negative impacts, but most of them were positive impacts that helped the gaming industry grow a lot, and this pandemic was very beneficial for the gaming industry and game developers. Here are a few reasons why coronavirus caused a gaming boom.
Video Games Classified as one of the Best Ways to Spend Time at Home
After the coronavirus started spreading everywhere in the whole world, people were strictly instructed to stay at home all the time and only leave your house when you need groceries or in case of emergencies.
So people didn’t have much to do at home, but gamers or anyone who has video games at home knew what they had to do at this time.
Everyone just started getting involved in video games, and as it was suggested to spend your time at home by playing video games, people began to buy gaming consoles or PCs so they can also play video games.
As people were gaming a lot and didn’t have anything else to do at home, so they started to get involved in different games and started buying more games for them.
This benefited all game developers and game stores a lot financially as people were buying more and more games.
It also financially helped all the gaming console companies and all the PC hardware companies a lot as people had to purchase these systems so they can enjoy gaming more conveniently
Online Tournaments and Esports Competitions
One of the most significant benefits of esports is that it can be played without the physical co-location of participants. We’ve seen incredible stories of professional teams and athletes turning to simulation esports to satisfy the demand for content.
Highlights include F1 drivers using Factor two and F1 2019 to host online races, the NBA Phoenix Suns and Dallas Mavericks replacing a canceled game with a match on NBA 2K20, and Spanish football stars Borja Iglesias and Sergio Reguilón playing a show match in FIFA20.
Taking that into account, the most anticipated esports events are generally live events. We have seen several large-scale esports events being either canceled, postponed, or held without audiences. As most sponsorship deals and media buys occurred before the outbreak, we do not expect a tangible impact on revenues from sponsorship and media rights.
However, we do anticipate a reduction in both merchandise and ticketing revenue streams, due to fewer events taking place, a general concern around attending public affairs, and complications regarding rescheduling.
So Gaming Tournaments were still held, but everything was online and at home, which was also more beneficial for the gaming industry as they didn’t have to pay for venues or anything for the tournaments to take place.