Exclusive data from Barclays Games and Esports released today reveals that the games sector has seen one of the largest increases in spending in 2020, with an increase of 43 per cent in 2020 compared to 2019, 11 per cent higher than the increase in entertainment streaming services (music, video and books, 32 per cent) and fourteen percent higher than general retail (29 per cent)1.
The coronavirus pandemic has led to increased revenues in the already growing sector, with video game spend surging during the first UK lockdown when there was an unprecedented increase in consumers spending on in-home entertainments, compared to a 51 per cent decline in out-of-home entertainment spend. Whilst spending dropped as the first lockdown eased, it remained up year-on-year for the majority of 2020.
The data also revealed that on average customers made more purchases throughout the year, with the…
