Could it be that the gaming industry is recession proof? It’s a bold claim, but leading industry experts see reason to expect the gaming industry not just to weather the current coronavirus recession but to actually flourish and thrive as the world adapts to its new normal.
As recession grips many other industries, the gaming industry is seeing record levels of engagement, record numbers of players and record revenues. And investors, keen to find a safe bet in difficult times, are increasingly viewing gaming as an industry that is able to keep growing. At the recent GamesIndustry.biz Investment Summit Online, three key gaming industry players offered a positive view of the future for the gaming industry.
Gaming Industry Recession Unlikely Say Industry Panelists
Bossa Studios’ co-founder Roberta Lucca was optimistic about the future, citing not just the massive growth in online engagement but also the potential opportunities for new products to meet the changing way people interact. “”If you look at Fortnite, the amount of live events they’re doing in the game is insane, and they’re getting much better with every show they host there,” she said. “So in the games world, engagement is getting higher.”
Gaming developers could also benefit from the move to socializing more frequently online according to Roberta, “The dynamics are going to change dramatically, but I think there is an opportunity for founders and game developers to look at the world in a different way and say, ‘How can I take all my knowledge about game design and create a new product that is actually super compatible with the world as it is right now?’ We’re more than capable of doing those kind of things, more than people who just work in technology.”
Symvan Capital’s Steve Iles also found reason to hope that for the gaming industry recession was not likely. “I think the games industry will fare what we’re going through better than most, for sure,” he said. “I don’t think it’s going to be doom and gloom for us in any way.”
One reason for optimism is the push by giants such as Amazon, Google and Microsoft to get into online cloud gaming platforms. By storing game data off devices on cloud platforms, advanced games will be accessible for the first time to people with low storage capacity devices such as smart phones or tablets. The Irregular Corporation’s business development director Mitsuo Hirakawa, the third panelist, pointed out that “the barrier of entry into gaming has been lowered for a lot of players — you don’t even need a console.” Already during the pandemic mobile users are installing 84% more apps and mobile gaming ad revenues are up 59%.
Mitsuo claimed he kept a “fairly positive outlook” and that “From Irregular Corporation’s perspective, we’re actually increasing our investments, we’re still looking and signing more games than ever. Gaming is here to stay. I think there’s still good business there. Design is king. As long as games are well designed and positioned well, I think there’s a never-ending longevity in gaming.”
Remote Resources Give Developers The Edge
The future will belong to those who bring out the well designed games these new platforms need first. Amazon is investing heavily in its new fully fledged cloud gaming platform, code named Project Thunder, as are Huwei and Nvidia, who are working together on a joint cloud gaming platform. Every company is seeking to be to cloud gaming what Netflix is to film and television, and to win players loyalty they will need content, and this is what is driving the gold rush amongst investors in the industry right now.
For developers this is a golden moment, and working with a dedicated remote resource team could give the edge in a fiercely competitive race. Now is the time for companies to be looking to develop games, but many smaller developers are not able to invest the resources they need into development right now.
Here at Remote Resources we’ve been specializing in delivering remote staffing solutions since 2012. If you are thinking of moving your development work to remote teams, it couldn’t be easier, we have you covered. After we’ve identified your business objectives and done a staff needs analysis, we’ll begin recruiting your team either from our in-house talents or by finding the right one in the market. After we’ve pre-screened and done preliminary interviews, you will make the final choice for the composition of your team. And from then on it will be like they’re an integral part of your company, with the same kind of oversight and structure as you have already got used to with your staff when working from home.
We are based in Saigon, and a World Bank report projects Vietnam’s GDP to grow at 2.8 percent this year, making it the world’s fifth fastest growing economy. GDP growth would recover quickly thanks to Vietnam’s effective handling of the Covid-19 pandemic, WB said in its report published on July 30th, 2020. Up to that date there were only 509 cases registered and 0 deaths.
Saigon Dragon Studios is a brand of Remote Resources which specializes in 2D and 3D art for video games. By working with a team of artists dedicated to your project, the cost of development can be greatly reduced. Our highly experienced artists can provide the skills to make projects which ones would have been too expensive to afford, and can speed up your workload to take advantage of the coming cloud gaming bonanza.
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