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Video game makers are “doubling down” on their investment in the gaming industry.

Jun 01 2021

Video game makers are “doubling down” on their investment in the gaming industry. YPulse’s gaming research shows that more young consumers took to gaming for entertainment during the pandemic, and companies are gearing up for a post-pandemic gaming boom. In January, Microsoft reported $5 billion in quarterly revenue from gaming in part due to its new generation of Xbox consoles, and the company plans to expand to Africa through the promotion of its cloud gaming service, xCloud. Niantic (a.k.a. the company that produced Pokémon Go) and Riot (producer of League of Legends) aim to hire nearly 900 and 1,000 people respectively this year, and Riot is investing in the esports league for the first time while opening two new studios in Shanghai and Seattle. While some gaming firms like Take-Two and Newzoo have projected that people will spend less on games this year as more people spend less time online and more time IRL, brands aren’t backing down from their investments as they prepare for “gaming to be the center of influence in the 21st century.” (NYT)