2020 brought on the worldwide pandemic followed by global lockdowns throughout 2021 and 2022. Now 2023 introduces a precarious unknown surrounding the stability of the global economy and market landscape. However, the esports and video games industry has continuously demonstrated its plasticity in discovering new avenues for growth and success. Learn about the top three trends that hold the greatest potential for 2023 below!
Service-Based Models
Live service games are steadily growing in the gaming market to meet the demand of continuously published titles. Instead of publishing remakes and remasters of previous titles, publishers have pivoted to creating only single titles, rebranding a current franchise, or focusing on a live service game to save time on developing titles within a franchise.
This model offers developers some reprieve from tight publishing timelines and fosters player engagement by ensuring they are logging in to the platform on a consistent basis. Time will tell how this strategy grows throughout the year!
Hybrid Monetization
The hybrid monetization model in 2023 will heavily focus on incorporating advertising into the esports and gaming industry. The main benefit to adopting this model is diversifying revenue sources, which will allow publishers and organizers alike to weather any upcoming economic uncertainties. Currently, this strategy has been successfully embraced by PC and console developers so their success provides a telling test case for the rest of the industry.
Furthermore, this model will likely appeal to players who are cutting back on costs associated with their esports and video game activities as they will not be absorbing the full cost. With thoughtful advertising in their revenue models, publishers and esports companies can bolster their platforms to keep revenue and player numbers high.
Increased Console Availability
The worldwide pandemic created numerous supply chain issues across the globe and the impact on semiconductor availability resonated with the PC and console manufacturers. This disruption in the supply chain led to low console sales for 2020 and 2021, but as the issues eased in 2022 sales of platforms, like the PS5, started to increase.
Publishers can take this opportunity to promote new console releases alongside title releases to bolster sales for the platforms as well as franchise titles. By building this anticipation, consumers and players will likely find it easier to justify buying a new console and game title in 2023.
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