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| • | Big Tech, big audiences. The video game industry has now far surpassed the movie industry, with 2021 gaming revenues at $180 billion, more than double global box office revenues. And with games now available on various platforms, from laptops to smartphones, game creators are able to tap into ever-expanding audiences through ads, subscriptions, and lucrative in-game purchases. It’s little wonder that Big Tech is paying so much attention to the gaming industry. [FT] | | | | • | Representation gap. Nearly three-quarters of Black Americans say they are gamers, versus 66% of the total population. So why aren’t there more Black video game characters and Black leads in video games? A handful of creative game studios and gaming professionals are working on expanding the representation of Black characters in the industry, which can have benefits beyond the game itself. When players—especially children—see characters who look like them in video games, it can help strengthen their sense of self and belonging. [NYT] | | | | • | ‘To play is human.’ Humans have been playing since the dawn of time, and that play is fundamental to our humanity, Sarah Bond tells McKinsey. As Microsoft’s corporate VP for game creator experience and ecosystem at Xbox, Bond sees the gaming industry as a unique entertainment medium where people can connect with others they’ve never met—who may not even speak the same language or live in the same time zone. Gaming is a remarkable social force that enables shared achievement, all within realistic worlds that push the boundaries of tech, says Bond. | | | | • | Enabling creativity. McKinsey spoke with Bond about how Microsoft’s strategic shift away from its console-centric gaming business opened up the company’s aperture to focus not just on gamers but also on game developers and publishers, too. In our interview, Bond shares some lessons from gaming that apply to many other industries—including how engagement should drive monetization instead of vice versa. And then there’s the “enormous power” of user-generated content, thanks to which nearly every year, she tells us, a new launch appears from an unknown team—and becomes one of the world’s biggest games. | | | | — Edited by Justine Jablonska | | This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. | | You received this email because you subscribed to the On Point newsletter. | | | | Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007 | | | |
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