For many gamers, video games have become more than mere entertainment. Today, video games are an escape and an avenue for socializing. Games have also been used for educational purposes. Most importantly, video games have also become a rapidly growing industry, offering various career and economic opportunities.
Globally, the video game market is expected to reach $189.3 billion in 2024. After a slight dip in recent years, the release of big titles like Electronic Arts’ Star Wars Jedi: Survivor and FC 24 significantly helped with market recovery in 2023. As the years go by, video game developers and companies have adjusted and innovated within the market, offering new business models to cater to gamers’ demands. Live-service games and much-anticipated franchise sequels and remakes have also helped drive market growth.
Market researchers also predict that the coming year will represent more stability and continuity in the industry, as well as much fewer disruptions. As such, it’s never too late to explore opportunities in the industry. In this post, we’ll look at some of the many lucrative opportunities gaming enthusiasts can look into:
The Esports Community
One of the more prominent segments within the video game market is the rise of esports. Today, many video games and developers encourage players to compete in various friendly competitions and esports tournaments and events around the world. Aside from being able to prove oneself as one of the best at their preferred games, esports professionals also enjoy significant earnings through signings with popular organizations, sponsorships and brand deals, and prize pools from winning or placing high in competitions. For gamers who don’t want to or aren’t able to compete professionally, there are other ways to participate in the esports scene. Esports teams and organizations rely on a full staff of people, from coaching to management and branding departments.
Many fans and viewers also place bets on their favorite teams or players. Of course, like traditional forms of betting, it’s important to only bet what you can afford to lose. Esports games, like traditional sports, are often full of surprises and upsets. Taking the time to learn esports betting tips can help maximize your chances of winning. This includes understanding the different betting odds available in esports tournaments, whether Decimals (which is a popular and common form of esports betting odds) or American, which some esports bookmakers offer.
Buy and Sell
Most hobbyist gamers can also buy and sell their favorite games outside of competing and gaming professionally. In a previous post, we highlighted how the market for used games has been on the rise, thanks to the many newer games being released on increasingly new consoles and hardware. Some online marketplaces allow you to offer listings globally for video games and other gaming-related goods. You can also join online gaming communities that allow buy-and-sell as well as trades for gaming goods.
Of course, video games aren’t only restricted to the physical copies of video game titles. In fact, many video games today are bought or ordered digitally through online game stores and launchers. In this case, many gamers tend to buy and sell their hardware, which can include gaming consoles such as Sony’s Playstation devices and controllers or the Xbox consoles. Many gamers also buy and sell other gaming hardware, such as desktop PC parts, to accommodate newer and more graphically demanding games, as well as gaming peripherals such as keyboards, mice, headphones, and more.
Content Creation
Another lucrative opportunity for gamers is online and digital content creation. Aside from playing your favorite games, some people enjoy watching other gamers and streamers play them. This may be due to their higher skills and capabilities or because they are entertaining or provide new ways to play a game. The increase in popularity of video streaming platforms like Twitch, YouTube, and TikTok has especially become instrumental in normalizing gaming content creation in the community.
Many top streamers in the gaming niche create content on a combination of these platforms to reach wider audiences. For example, a Rainbow Six streamer can create long-form content by streaming for hours daily on Twitch. Many streamers reach hundreds of thousands of followers and active viewers who can also send monetary donations throughout the stream as a show of support. Later, they can create shorter clips with more entertaining edits for other platforms like TikTok or YouTube, and new viewers there can choose to visit their streams if they want to see more.
Game Development
Finally, another great opportunity for gamers in the growing industry is to get into game development. This is a popular track for many regular, casual, and passionate gamers who may have dreams of making their own games or improving on existing games that they may feel lack certain features or modes. Nowadays, many game developer companies continuously seek new designers, programmers, writers, and QA testers to improve on existing and upcoming games.
Other countries around the world have also begun showing support for smaller developers. Japan’s Ministry of Economy recently announced an acceleration program to support indie game developers in the country by providing mentorship and financial support. This provides direct support by letting developers attend industry trends lectures and get advice on project management and production planning.
