The Global Console Games Market On Track To Exceed $57 Billion This Year

Financialnewsmedia.com News Commentary

PALM BEACH, Fla., Aug. 25, 2020 /PRNewswire/ -- The global pandemic has reduced revenues across almost all markets worldwide… but that "almost" does not apply to the console gaming market. In fact, its revenues have actually increased! Covid quarantine has presented an opportunity for dedicated console and computer gamers to spend more time with new games in store. Multiple industry reports are projecting a significant rise in revenues, in the coming year and for several years thereafter. One report from Brand Research projected that the global console games market, which was valued at USD 26.06 Billion in 2018, is expected to reach USD 34.52 Billion by 2025 with a CAGR of 4.10 %over the forecast period. But another report from MarketsAndMarkets was even mor optimistic saying that the global console games market is expected to grow from $40.6 billion in 2019 to about $57.9 billion in 2020… The market is expected to stabilize and reach $67.1 billion at a CAGR of 13.4% through 2023. Active companies in the gaming industry this week include Liquid Media Group Ltd. (NASDAQ: YVR), Take-Two Interactive Software, Inc. (NASDAQ:TTWO), Sony Corporation (NYSE: SNE), Electronic Arts Inc. (NASDAQ:EA), Activision Blizzard, Inc. (NASDAQ: ATVI).

The Brand report gave an overview of the console market, saying that console games, which are more commonly called video games, are played on a device specially made for game play called a video game console. The player relates with the game through a controller, a hand-held device with buttons and joysticks or pads. Video and sound are received by the gamer though a television. Consoles have advantages over PCs, they are easy to use, don't require upgrades. Easy to use, in general they cost less, and wireless controllers allow to have a more active experience. While more and more video  games are released across all platforms each year… some of the biggest games out can only be played on gaming consoles at the moment.

Liquid Media Group Ltd. (NASDAQ: YVR) BREAKING NEWS:  Liquid Media Nominates M&A Board Strategist to Maximize Value of Waterproof Asse– Liquid Media Group, (the "Company", "Liquid Media" or "Liquid"), is pleased to announce the nomination of mergers and acquisitions (M&A) strategist Andrew Kaplan to the Board of Waterproof Studios ("Waterproof"), in which Liquid holds a 49% interest. Kaplan plans to lead a strategic review of the Waterproof asset with the aim to maximize capabilities and long-term value for Liquid shareholders.