According to Take-Two Interactive CEO Strauss Zelnick, the gaming industry isn’t even close to reaching its ceiling when it comes to further growth.
Zelnick said as much during an interview with The Wrap in which he talked about the state of the gaming industry, acquisitions, and possible growth. In the interview, the executive was asked about the extra growth of the interactive entertainment industry during the global pandemic, and whether he believes that this growth has now reached its ceiling.
In his response, Zelnick was pretty clear by saying that the industry isn’t even close to reaching its growth ceiling just yet. As a matter of fact, the CEO believes that the industry will continue to grow for the next 20 years after which it will, mathematically, will level off due to the majority of people who grew up with video games will hit the age of 60.
“We’re not even close, because the age of an average gamer is still 36, 37, 38, and people consume for the rest of their lives the entertainment they fell in love with at the age of 17”, Zelnick explained. “They don’t churn away, you know that yourself. The music we love most is the music we love when we were 17. That’s what we engage in as an adult, maybe a different level of actual volume and the amount we consume, and that will be true for interactive entertainment.
The CEO continued, “so you can make this point when our cohorts are 60, then you can say, okay so mathematically you’re probably reaching your asymptote and your growth will look like everyone else’s growth in entertainment, which is close to the rate of GDP growth, roughly, but we’re not there yet so we should be growing for the next 20 years disproportionately.
Wise and interesting words from Zelnick for sure, and we’re pretty interested to see how the gaming industry will evolve in the coming years.
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