Looking back at 2013, it’s hard to believe how the gaming industry has had so many victories as well as defeats in just one year. We have seen the launch of two new video game consoles, a game that broke all records in sales for the entire entertainment industry and a gaming company that went from a lofty powerhouse position to reporting a $600 million loss.
Both Sony and Microsoft launched their new video game consoles last month and the rush has been on to keep up with the demand. Even the president of Sony’s gaming division in the US doesn’t own a PlayStation 4 yet, as he would rather a customer get it.Sony sold over 2.1 million units in the first two weeks, and Microsoft wasn’t far behind with 2 million units of their Xbox One sold in the same timeframe.
Rockstar’s Grand Theft Auto 5 broke seven world records with its launch in mid-September. It grossed over a billion dollars in the first weekend after launch and took several other records including ‘highest grossing videogame in 24 hours’ and ‘highest revenue generated by an entertainment product in 24 hours’. Seeing revenue like this, it’s clear that the entertainment landscape is changing dramatically as video games are starting to earn more revenue than even Hollywood.
Not all companies are sharing in the success of Rockstar, Microsoft and Sony, though. Facebook game developer, Zynga, has suffered a net loss of almost $600 million since 2008. What is surprising to many about this news is that in 2010 the company had a profit of $90.5 million and was expected to stay as a front-runner in the social gaming space. In March of 2012 stocks were up to $14.69, but have been lingering just above $4.00 at the time of this writing.
Defeats aside, there are countless other great successes in 2013 – take BlueSnap client Disruptor Beam’s release of Game of Thrones Ascent for example. The game has seen millions of players in less than a year and the company is on the verge of releasing a tablet version of the game. With all of this said, at BlueSnap we’re excited to continue to see our clients and the overall game industry thrive in 2014 – to rise above the challenges and follow paths to success. And, we strive to continue to help many game companies reach their full potential by providing a smarter option for processing payments within games!