A naukri.com initiative
VentureBeat
1M
370
How gaming can get back to balanced growth | The DeanBeat
- Despite this year's signs of solid growth from Microsoft's Xbox division and Electronic Arts, the game industry is still experiencing layoffs. Speaking at GamesBeat Next 2024, Amir Satvat, who works for Tencent and helps people to find jobs in the gaming industry in his spare time, said he predicted that by December, gaming hiring would exceed firing on a 60-day trailing basis for the first time in years. The industry has experienced 2.5 years of layoffs resulting in some 33,000 job losses. Meanwhile, ageism and a brutal talent-heavy culture continue to plague the sector.
- Satvat warned that if there are another 1,000 layoffs this year, the recent rebound in hiring could be delayed. Around 10,000 people are currently actively seeking work, with 45% of that number having been jobless for over a year. Mustered deeper numbers than anyone else in the industry, Satvat suggests that gaming has become a brutal sector.
- However, the future looks increasingly reliant on AI, as recently demonstrated by the U.S. military's development of an AI that can predict the future. Retirement planning firm Fidelity says it plans to incorporate AI into its schemes. We don't want to reject new technology because it might make the old ways of doing things obsolete.
- Initiatives that promote diversity are also gaining traction in the gaming world. Dametra Johnson-Martelli, corporate vice-president of gaming consumer sales at Microsoft spoke with Rachel Kaser at the recent Women in Gaming Breakfast, where discussions addressed issues such as 'what raising money is like for people of color in games'. At our Diversity in Gaming panel, led by Xsolla’s Bridget Stacy, people spoke about overcoming the odds to finally get gaming-related ventures off the ground.
- David Glass and I came up with the theme months ago on the hope that the game industry would return to growth. By 2025, we hope to see the return of balanced industry growth, with signs of solid revenue growth coming from big names such as Rockstar Games, which is due to release Grand Theft Auto 6. Despite this, we need more than big-name tailwinds to predict the industry's long-term success.
- Returning to the Women in Gaming Breakfast, Johnson-Martelli remarked that Microsoft's motto is 'when we all play, everybody wins'. Although 25% of gamers in the US are Black, Indigenous and People of Colour (BIPOC), companies targeting big blockbuster games forget these potential customers at their peril.
- Epic Games CEO Tim Sweeney recently appeared at a GamesBeat Next 2024 session, and spoke about needing to shift towards open technology. As the idea of the metaverse gains traction and the internet takes on a more spatial element, Sweeney believes the only way forward is for open technology to be developed, rather than relying on proprietary platforms offering nothing but taxes.
- This year, GamesBeat Next 2024 had significantly more attendees than last year: 577 people came in San Francisco, compared with 550 during an equally tough year for gaming last year. At the event, generous sponsors came forward to support networking and areas where people could connect. Between speakers, we gave roles to those in the game industry who needed jobs.
- The gaming industry may have turned over $152bn in 2019, but in the industry's quest for fresh ideas, it seems that formulas that work now are no guarantee of long-term success. On paper, it's clear the industry has lots of growth potential. But whether gaming's current identity crisis will hamper real progress remains an issue.
- This year, GamesBeat Next 2024 had significantly more attendees than last year: 577 people came in San Francisco, compared with 550 during an equally tough year for gaming last year. At the event, generous sponsors came forward to support networking and areas where people could connect. Between speakers, we gave roles to those in the game industry who needed jobs.
- The gaming industry may have turned over $152bn in 2019, but in the industry's quest for fresh ideas, it seems that formulas that work now are no guarantee of long-term success. On paper, it's clear the industry has lots of growth potential. But whether gaming's current identity crisis will hamper real progress remains an issue.
Read Full Article
22 Likes
For uninterrupted reading, download the app