Phones might sell in huge volumes compared to game consoles but how many phone users spend a lot on apps?
Also, many apps are under $10.
Try finding console games that are that price for a new release...
Hence console makers getting 30% on less sales at significantly higher average prices are doing very well.
AI Overview of gaming market:
Global Market Size:
The video game market is estimated to be worth almost $455 billion globally, with the mobile gaming market alone generating $98.7 billion.
- Growth:
The video game market is expected to continue growing at a significant rate in the coming years.
- Engagement:
Gaming has a larger and more engaged audience than movies.
- Impact:
The video game industry has a broader impact on the entertainment landscape, inspiring movie and TV adaptations, and even influencing the way people experience storytelling.