It is no secret that the US and the world are suffering one of the worst, or, perhaps, the worst recession of our lifetime. The credit crunch is the main cause that toppled the banks and led to millions of home foreclosure. Those who are just graduating from high school or college may have a confusing time finding a career path.
The Video Game Industry is Hot!
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If you're someone interested in video game jobs, continue reading and take note.
According to MarketWatch.com, Gamestop CEO, Dan DeMatteo, "The video game business continues to enjoy robust growth, making it the fastest growing of the many consumer goods categories." His company expects to see a sales growth of 10% to 12% for 2009. Gamestop is a boutique video game retailer favored by many gamers.
They're not alone in optimism when it comes to retail growth of video games. In a press release, Game Doc is expanding their operation by offering franchise opportunities in the hot growth market. "Achieving double-digit growth in this tough economy is further proof that video games are the most popular form of entertainment in the country," said Jim Belanger, president of Gamer Doc.
The Video Game Phenomenon is Growing in New Markets
The popularity of video games is not just growing in the US and other traditionally western countries, but in China as well. According to Oxburyresearch.com, broadband access is rapidly expanding within China. Because of it, online gaming is booming. China's 2008 $1.79 billion gaming industry revenue is expected to rise to $2.3 billion in 2009. The industry's growth rate is projected to top 20% over each of the next few years.
Video Games are the New Popular Entertainment
The growth of video games during these hard times is not unusual. More than ever, escapism is needed so that we may remain sane. The same trend happened during the Great Depression of the 1930's. Back then, the movie industry boomed and gave rise to entertainment stalwarths such as Universal Pictures and The Walt Disney Company.
Top Video Game Releases in 2009
For 2009, there are a handful of highly anticipated video game release that will push the sales projections up and make the exuberant estimates a reality. These titles include:
Resident Evil 5 (Xbox 360, PlayStation 3) - March 13
God of War III (PlayStation 3) - TBA
Grand Theft Auto Chinatown Wars (Nintendo DS) - March 17
Street Fighter IV (Xbox 360, PS3) - February 17
Batman: Arkham Asylum (Xbox 360, PS3) - TBA
Call of Duty: Modern Warfare 2 (Xbox 360) - Fall 2009
Halo Wars (Xbox 360) - February 28
Star Wars: The Old Republic (PC) - TBA
Great Opportunities in Video Game Jobs
When it comes to video games, the future is certainly brighter than most consumer markets. Of course, the future is just as bright for video game jobs.
The field is still growing and there are markets that are not yet being fully realized. Two established fields come to mind: online gaming and mobile gaming.
Despite MMORPGs (massive multiplayer online role playing games) being around for years, it still remains a niche market. With the increasing broadband access, HD TV, and living room consoles such as the WII, MMORPGs are yet to hit the mainstream. And when it does, the video game market will experience yet another boom. Additionally, mobile device gaming continues to grow as the iPhone and its competitors become more integrated into mainstream consumption.
In conclusion, the video game industry is currently a bright spot in our dismal economy and it will continue to do so for many more years to come.
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