Transmedia, Gen AI to drive growth in 2024 | Deloitte 2024 Gaming Outlook

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In a rapidly evolving landscape, video games are cementing their place as the top entertainment medium according to Deloitte’s 2024 Gaming Outlook. The firm’s 2024 Digital Media Trends survey found that 61% of U.S. consumers play games regularly, averaging 9 hour of playtime per week.

Games are reaching players of all ages, especially after the rise of mobile gaming, which broadened the medium’s reach. The overwhelming majority of Gen Z (85%), millennials (78%), Gen X (60%), and even a significant portion of boomers (35%) are actively playing.

Deloitte’s key findings for its 2024 Gaming Outlook.

The majority of gamers (60%) have played for more than 10 years, but the industry is still welcoming in new audiences. About 20% of surveyed players — and 25% of women players — started playing within the last four years.

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While the gaming audience is growing, Deloitte also highlighted how top heavy the gaming market is. Citing a Newzoo report, 90% of 2023’s game revenues came from just 43 titles.

Deloitte argues that its might be more difficult now that ever to successfully launch a new game. Rising triple-A development costs makes ROI elusive, pressuring the largest developers to take fewer risks. Smaller game studios and non-gaming media companies fueled with top IP may bridge the gap.

In its report, Deloitte highlighted trends driving growth in the games industry.

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Given the rise of transmedia and game-to-film adaptations, Deloitte sees story-driven experiences as an opportunity for growth. Single player story-driven titles have mass appeal with the majority of surveyed players saying they preferred these solo narrative-focused experiences. In fact, these transmedia adaptations are driving game discovery. Deloitte found that 52% of Gen Z and millennial gamers surveyed decided to play a specific video game after watching a specific TV show or movie.

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Similarly, Deloitte sees generative AI as a tool to address rising development costs and to aid innovation. The firm expects more studios to experiment with Gen AI, but it will be difficult to define a coherent strategy as the technology evolves. Some early uses include concept art iteration, coding assistance, conversational NPCs, translation and responsive game levels and digital goods.

Deloitte’s 2024 Gaming Outlook is available now.

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