More than 40% of UK home entertainment revenue in 2022 came from video games, Video Games Revenue 2022 UK – Video games are still a big source of revenue. According to the Digital Entertainment and Retail Association, video games have actually outsold video and music for the eleventh year in a row in the UK’s home entertainment market (ERA).
According to ERA’s preliminary data, video games brought in an anticipated £4.66 billion ($5.64 billion) or 42.1 percent of all home entertainment spending in the UK in 2022. Games continue to be the UK’s largest home entertainment business, even if this growth was slower than that of video or music. It represents an increase of 2.3 percent from 2021. (via GamesIndustry.biz).
A significant increase in video revenue in 2022—up 14.4% to a total of £4.43 billion—made it difficult for games to maintain its top spot among its media competitors. In addition to digital rentals and purchases, as well as subscriptions to streaming services like Netflix, Disney Plus, and Amazon Prime, this includes sales of DVD, Blu-ray, and 4K discs.
Music, on the other hand, saw a three percent increase in sales last year, bringing in a total of £1.98 billion for 2022, far behind video and gaming. Sales of physical CDs and vinyl are included in the music section, along with subscriptions to services like Spotify and Apple Music. If you add music, video, and games together, the UK home entertainment business is predicted to generate £11.1 billion ($13.45 billion) in sales in 2022.
Gaming is still “the frequently underappreciated leader of the entertainment sector,” according to ERA CEO Kim Bayley. Its scale is immense, and in terms of innovation and excitement, it continues to set the pace for the whole entertainment business, even though growth at 2.3 percent was lower than that of video or music.
In-depth analysis of the game sales reveals that digital sales are still rising, up 3.1 percent on a yearly basis to an estimated £4.17 billion, while physical sales fell by 4.5 percent to £488 million. Only 10% of the sector’s revenue came from physical game sales in 2022, according to ERA. While mobile only barely grew 3.2 percent but was the largest sector with revenue totaling £1.48 billion, console downloads increased 12.2 percent year over year to reach £742 million. These numbers were obtained from combined GSD/IFSE statistics, Omdia estimates, and GfK Entertainment estimations.
Video Games Revenue 2022 UK
A different report from the trade group for video games, UKIE, revealed a 31 percent growth in the number of gaming businesses operating in the UK since September 2016. According to the UK Games Map, there are 2,555 active businesses in the country, of which 2,202 are game companies (including publishers), 213 are service businesses, and 140 are educational institutions that provide training and instruction in the field of games (thanks again GamesIndustry.biz).
Even while the UK’s struggling economy continues to be buoyed by the games sector, Brexit’s spectre is hampering the sector’s capacity to hire. Games firms have had trouble hiring adequate talent in the UK ever since the UK left the EU. More might be done to help this “often unrecognised leader” in the UK home entertainment sector and this gem of the country’s economy.