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Which Sector is Currently Driving the UK Entertainment Market
25/06/2024
The UK is driven by numerous entertainment markets. For a long time, the gaming sector was the biggest contributor, but recently, things have changed, with video content taking centre stage.
Even though physical sales for games have been declining, digital content is on the rise. Reports show that digital game sales now stand at £4.09 billion, showing an increase of 2.9%. Casinos have a lot to do with this level of growth, with the sector expected to hit over $3 billion by 2028. It seems that people would rather play live Lightning Roulette online than buy a physical copy of a game at a retail store. There are a lot of reasons for this too, as digital content can be delivered instantly, without long loading times.
New versions of games can also be released at much faster rates, leading to an increase in niche game variants such as live Quantum Roulette and live Prestige Roulette. For gamers, this translates to a much more diverse range of titles that are able to delve into different formats while providing unique experiences. If you look at the latest trends in video content, physical sales started to decline a long time ago, as streaming became the more convenient option. It seems that the gaming sector is following in the same footsteps, as digital games soar in popularity.
When you look at the UK as a whole, it was streaming that underwent the biggest growth period last year. Streaming accounts for 91.7% of all revenue, with subscription services becoming more popular than ever. People are also choosing to cut the cord on traditional TV packages, instead opting to have subscriptions to multiple digital platforms.
A lot of this comes down to the general flexibility that they have to offer, and that they can be cancelled at any time. Original content, as well as exclusive shows, are also helping to pave the way for the streaming resolution. People who watch Netflix shows or movies will have also noticed that they are expanding into gaming. They have shown interest in expanding their current game platform by adding new titles, and when you look at the digital boom, it’s not hard to see why this is a smart move. Netflix aims to release 90 games this year, which is great news for UK gamers.
So as is evident, the UK entertainment market is being driven by video and gaming right now. With that being said, the country is also experiencing a shift in user preferences. Streaming and digital games are rapidly outpacing physical copies, not to mention that subscription numbers are also on the rise, meaning that there could be some interesting developments over the next few years.
Published: by Radio NewsHub