The $120 billion gaming industry is going through more change than it ever has before, and everyone is trying to cash in
- Video games have become an irreplaceable part of our global culture.
- Microsoft says there are more than two billion gamers around the world, and they're all a part of a rapidly growing global community.
- As an industry, video games generated $119.6 billion in revenue during 2018, according to SuperData.
- Business Insider explored how video games have embraced innovation and reshaped the way we look at the world.
- Visit Business Insider's homepage for more stories.
Video games are more than just a booming entertainment business - they're reshaping the way we interact with the world.
The gaming industry inspires innovation by constantly pushing the boundaries of what's possible, driving companies like Google and Microsoft to create new technology to serve the billions of gamers around the world.In fact, according to Microsoft, there are more than two billion gamers around the world. This number includes everyone from those playing free games on their phone to those using a state-of-the-art computer fitted with the latest hardware. And the gaming market is only growing.
By 2022, experts forecast the gaming industry will produce $196 billion in revenue. It's no wonder then that tech giants like Apple and Google are trying to cash in by launching gaming streaming services.
But it's not just giant companies looking to make money off of gaming. As the global culture around video games continues to change, it has given rise to a new way for people to make money.
Gamers broadcasting from their basements draw huge audiences that make us question what it means to be a professional. Tyler "Ninja" Blevins has redefined pro gaming, earning as much as $500,000 a month during the height of his popularity.
Video games have even challenged the definition of sports, as we watch teenage competitors become more popular than professional athletes. Esports revenue is expected to surpass $1 billion for the first time this year, according to NewZoo.
Gaming is also transforming pop culture and redefining the ways that young people consume entertainment.In fact, vintage video games now command the sort of cultural currency and influence once reserved for classic films, perhaps the clearest sign that video games are now an essential form of entertainment.
Business Insider explored how the booming gaming industry is evolving and how it's shaping the way we see the world in a new series of stories called Game Changers.
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