Just over one third (36%) of US broadband households subscribe to or are in trials with a video gaming service, according to a new report from Parks Associates.
Parks further states that three-quarters of heads of US broadband households are playing video games at least an hour a week. The interest in online gaming is continuing to grow, according to the research firm, which sees potential market opportunity for US cloud gaming services reaching $3.6 billion in 2024.
Among the report’s other findings: Nine-in-ten (91%) of console gamers play games on at least one other platform. Just over one third (37%) play on a PC, mobile device, and a connected TV device (either a smart TV or streaming media player) in addition to their console.
“While nearly two-thirds of households are not yet engaged with any gaming services, cloud gaming can become a staple within the subscription entertainment options available to consumers,” said Paul Erickson, Parks Associates senior analyst, in a prepared statement.
“Netflix’s recent entry into the industry brings more attention and awareness to online subscription gaming and broadens the potential consumer base for these services – particularly since they will provide access to games for free to their subscribers.”
Erickson credited the COVID-19 pandemic, which has prompted people to spend more time at home, with people purchasing multiple subscriptions worth of streamed entertainment across multiple devices and increasing the need for faster broadband connections.
Erickson added: “Console owners who also play on a mobile device and a PC or who play on every platform category make up half of all console gamers. Simply put, console gamers are multiplatform gamers. Subscription and cloud gaming services require a multiplatform approach so that providers can appeal to both dedicated gamers and the remaining market of casual or convenience gamers.”
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