Video game industry silently taking over entertainment world

When one mentions the entertainment industry, most people would think about films and music. Many people watch the Oscars, Grammys, Golden Globes, MTV Video Music Awards, BRIT Awards, etc. Of course, there is a lot of glitz and glamour in the film and music industries. But would you be surprised to learn that these two are not the top-grossing sectors in entertainment? As a matter of fact, these two put together do not even match half the revenue the video game industry is earning. According to the latest figures, the video game business is now larger than both the movie and music industries combined, making it a major industry in entertainment. This year, the global games market is estimated to generate US$152.1 billion from 2.5 billion gamers around the world. By comparison, the global box office industry was worth US$41.7 billion while global music revenues reached US$19.1 billion in 2018. Consider the top blockbuster movie to date, Avengers: Endgame.  When it premiered on April 16, it raked in over US$858,373,000 during its opening weekend. It even surpassed last year’s Avengers: Infinity War, which generated US$678,815,482 in gross revenue.
But while these films received so much attention and hype from the general public, they failed to outperform the highest-grossing entertainment launch in history, Grand Theft Auto V’s release back in 2013, which earned US$1 billion in just over three days.