There has been a significant increase in the traction and popularity of online gaming since the world has been put on lockdown because of the novel coronavirus. This, in turn, has caused a reduction in the number of investments made in start-ups. As the economies around the world continue to plummet down, the online sports and gaming industry could be the real and the most clear winner in the coming couple of years or so.
The lack of live sport has resulted in higher engagement rates and downloads on online gaming applications. Week 5 and 6 of the lockdown in India saw a massive 30% increase on the gaming apps as compared to this surge back when the lockdowns were first initiated. It is widely believed that gaming is another one of those male-dominated spaces with a very small percentage of female gamers.
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However, 55% of females and 48% of males have been spending their time on mobiles or computers playing games online. The reach of online gaming has increased by 72% under the lockdown, according to BARC and Nielsen Media. The research was taken from 12,000 smartphone users.
Figures from Gaming Industry To Take Over In The Post Pandemic World! Inc42’s webinar panellists also believe that gaming, medical services and fintech will be the big winners in the post coronavirus world. They believe that the next two years will be vital for investors in seizing opportunities.
Joining the webinar was Dirk Van Quaquebeke, managing partner of BEENEXT, Priya Banerjee, principal at B Capital Group, Benny Chen, managing partner at BAce Capital, and Ed Roman, managing director from Hack VC.