Gaming Industry Soars to Record Heights

  • Gaming market accounts for more than half of UK entertainment market
  • Total sales for games market reached £3,863m in 2018
  • Physical console and PC games market shrank by 2.8% to £769.9m
  • Digital growth was modest at 12.5% to £3.094m
  • Gaming sector has doubled in value since 2007, now worth £3.864bn
  • ERA CEO Kim Bayley praises industry’s digital innovation

The UK gaming market has surpassed both the video and music markets, accounting for over half of the entire entertainment industry at £3.863 billion in sales in 2018. Despite a slight decline in physical console and PC game sales, digital growth and mobile gaming have driven the sector’s value to more than double since 2007. The Entertainment Retailers Association (ERA) attributes this success to the industry’s effective use of digital technology for new entertainment forms.

Factuality Level: 10
Factuality Justification: The article provides accurate information about the growth of the video games market in the UK, citing specific sales figures and comparing it to other entertainment industries. It also includes a quote from an industry expert that supports its claims.
Noise Level: 3
Noise Justification: The article provides relevant information about the growth of the video games market in the UK and its contribution to the overall entertainment industry. It highlights the increase in sales and the impact of digital technology on the sector’s growth. However, it lacks a deeper analysis or exploration of the reasons behind this growth and potential future trends.
Financial Relevance: Yes
Financial Markets Impacted: The video games market’s growth impacts companies in the entertainment industry such as game developers, console manufacturers, and related service providers.
Financial Rating Justification: This article discusses the financial performance of the UK video games market, comparing it to other sectors like music and video sales, which can have an impact on the companies involved in these industries.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned in the text.

Reported publicly: www.retailsector.co.uk