This is a first. For years experts and industry insiders have predicted that soon the global mobile games market will surpass the movie market it revenues. The assumption was based on the incredible growth rates the industry had shown year after year. It was only a matter of time. And now it actually happened.
Games gain, movies lose
In 2016 the industry generated a whopping $40.6bn in revenue. That means an incredible 18% of annual growth. In comparison, the global movie box office hit roughly $38bn during last year. But not only was the result extraordinarily good for mobile games. The movie market also failed it reach experts’ expectations. It fell almost $1bn short of 2015’s record revenue. That is mainly due to a weak Chinese market.
Mobile games benefit from overall app boom
As Iconicfuture News reported already earlier this year the mobile app market was booming in 2016. With a plus of 13 billion downloads across both iOS and Google Play App Annie registered an increase of 15 percent worldwide. And with a plus of 13 billion downloads across both iOS and Google Play the analytics service App Annie registered an increase of 15 percent worldwide. Clearly the mobile games market benefited from that overall mobile hype.