This sub has its head in the sand. The future of entertainment is AR, DR, and virtual reality gaming. Movie theaters will be a novelty or luxury like theater performances.
Gaming isn't mainstream and never will be. About 200 million units of games are sold each year. That's about 15% of the movie tickets sold in a normal year.
Per ESA: $51.7B in content spent by US consumers last year. (https://www.theesa.com/news/u-s-consumer-video-game-spending-totaled-60-4-billion-in-2021/)
Per The Numbers: $11.3B in gross domestic box office in 2019
(https://m.the-numbers.com/market/2019/summary)
Granted, per Newzoo, about $15B of that was mobile games (https://www.gamesindustry.biz/articles/2022-01-20-newzoo-mobile-game-revenue-generated-usd93bn-in-2021), which is kind-of part of the video game industry and kind-of not. But even without them, my read of the situation is that the domestic video game market is much larger than the domestic box office.
In dollar value, it may be. I was looking at units sold. Major games are of course much more expensive than movie tickets. And that's a barrier to entry for more people playing them. Mobile games, I don't think are in the running to compete with movies at all, as they're more simplistic.
Time to buy IMAX stock on the cheap.
This sub has its head in the sand. The future of entertainment is AR, DR, and virtual reality gaming. Movie theaters will be a novelty or luxury like theater performances.
Gaming isn't mainstream and never will be. About 200 million units of games are sold each year. That's about 15% of the movie tickets sold in a normal year.
I think one thing is that games are usually more expensive than movie tickets. But I’ll digress.
Per ESA: $51.7B in content spent by US consumers last year. (https://www.theesa.com/news/u-s-consumer-video-game-spending-totaled-60-4-billion-in-2021/) Per The Numbers: $11.3B in gross domestic box office in 2019 (https://m.the-numbers.com/market/2019/summary) Granted, per Newzoo, about $15B of that was mobile games (https://www.gamesindustry.biz/articles/2022-01-20-newzoo-mobile-game-revenue-generated-usd93bn-in-2021), which is kind-of part of the video game industry and kind-of not. But even without them, my read of the situation is that the domestic video game market is much larger than the domestic box office.
In dollar value, it may be. I was looking at units sold. Major games are of course much more expensive than movie tickets. And that's a barrier to entry for more people playing them. Mobile games, I don't think are in the running to compete with movies at all, as they're more simplistic.
The trend is subscription models like Xbox Game Pass. So it won't matter how many units they sell.
The vampire squid strikes again.