Online Video & Games Market Grows To $330 Billion

Analysts link 2020 growth to pandemic COVID-19

The shift to telecommuting, work, and entertainment driven by the COVID-19 pandemic has boosted the online video and gaming market. Last year, this market reached $330 billion. This assessment is given by experts of the analytical company ABI Research.

Analysts clarify that the video segment exceeded $ 69 billion, while the gaming segment saw an increase of more than 22% compared to 2019.

The popularity of “connected television” (CTV) has grown steadily over the past few years, but 2020 has given a significant boost to this market. This is evidenced by the shift towards CTV in the structure of advertising, which is reported by many advertising companies. Further evidence is the rapid growth in subscribers shown by new entrants to the market, including Disney Plus, HBO Max, and NBC Peacock.