The live game streaming market is an industry that has continued to take off ever since it was first introduced and made widely available to everyone.
Indeed, there has been a lot of interest in the industry, especially as more and more people have decided to take an interest in what others are doing and how they play certain games, as this has provided them with an educational tool, as well as one that can be rather entertaining.
With such a variety of different games being played, from some of the most popular esports titles to some of the biggest video games to have ever been released, as well as a plethora of live casino games, streamers are now providing viewers with an epic amount of choice when it comes to trying to find something to watch.
In this article, we will look to explore just how big the industry is in 2022, and where it could potentially end up in the future, whilst exploring the figures behind what has made the sector as big as it currently is.
What are some of the numbers being experienced by the industry?
Previous estimates a few years ago would have suggested that the live game streaming industry would have been huge in 2022 given the rise of platforms such as Twitch and YouTube, as well as the use of social media networks.
Early figures had once suggested that the live game streaming industry could be worth over $25 billion, although it is thought that it had eclipsed that total in 2021 as it was reported to be worth over $70 billion. However, that just seems to be the tip of the iceberg for this industry, with figures reported to escalate even further in the future.
According to data, it has been found that there is an expectation that a CAGR of 9% is to happen between now and 2026, whilst it has also been predicted that the live streaming market will grow to $223.98 billion by 2028.
Twitch dominates the market
We mentioned earlier that there are several different platforms that have since been introduced that have allowed live game streaming to experience the kind of numbers that were highlighted above, with Twitch being the biggest influence on the industry.
Findings have revealed that the platform hosts around 91% of streaming content in the market, with around 30 million daily visitors accessing the site and watching a variety of different live streams that take place. It is also believed that the gaming and esports markets make up most of the market share, with 54% of all streams said to be based on this content form.
Furthermore, it is said that more than 7 million unique streamers go live every month, whilst half of the platform’s users are said to be between the ages of 18 and 24.
Games including League of Legends and Fortnite continually feature at the top when it comes to those that are most-watched.
Why do so many continue to consume live streams?
It could be argued that there are several reasons why so many continue to consume live streams and why gaming live has enjoyed such a huge success.
The first is that live streams offer an opportunity to interact with the broadcaster in real-time, which can add an extra level of engagement and excitement that other types of videos do not offer.
Additionally, live streams can be more spontaneous and unscripted than other types of content, which can make them more interesting to watch, whilst live streams are often more personal and intimate than other types of videos, which can make viewers feel like they are getting a closer look into the lives of the people they are watching and perhaps enjoy the games that are being played in a different way.