The industry of watching other people play video games continues to surge in popularity, with revenues and the number of users reaching record highs.
According to data presented by CasinosEnLigne.com, the game streaming industry is expected to gross $11.7bn in 2023 or 20% more than last year.
Game Streaming Revenues more than Doubled in Five Years
Statista survey shows more than 1.9 billion people will play video games in 2023. Still, game streaming or watching others play remains the core part of the gaming experience for many. The surging demand for game streaming content has skyrocketed over the past years, driving impressive revenue and user growth.
In 2018, global game streaming revenues, including live streaming advertising, like ads on Twitch, subscriptions or donations to streamers, and sponsorships for a special status of streamers, amounted to $5.1b. Two years later, this figure jumped by 30% to $6.7bn.
Statistics show game streaming revenues continued surging and hit $9.7bn in 2022. Statista expects the entire market to gross $11.7bn in 2023, showing a huge 129% revenue increase in five years.
Most of that value, or $2.18bn, will come from China, the world`s largest game streaming market. The United States follows with $2.21bn in game streaming revenues. Japan, the third-largest game streaming industry, is expected to gross over $1bn this year, more than double the revenue from the United Kingdom and Germany as the other top markets.
Statista expects the global game streaming revenues to grow by a CAGR of 10.44% between 2023 and 2027, resulting in a projected market volume of $17.4bn.
Over 1.1 billion People to Watch Game Streaming in 2023, 17% more than a Year Ago
Although 2022 saw the first drop in live streaming viewership, the global game streaming audience is set to continue growing this year.
Last year, around 980 million people worldwide watched game streaming content. This figure is forecast to grow by 17% to over 1.1 billion in 2023.
The Statista data show all major markets will see a double-digit viewership growth this year. Chinese game streaming audience is expected to grow by 20% to 367 million, or one-third of the world`s total.
The number of viewers in the United States, the second-largest market, is set to jump by 13% year-over-year to 66.3 million. Japan follows with 37.8 million viewers and a 22% annual increase.
Statista expects the global game streaming audience to grow by another 43% and hit 1.65 billion by 2027.
