Gaming twice as lucrative as movies

Matt Grobar reports on Deadline that LaKeith Stanfield is Circling ‘El Paso, Elsewhere’ Video Game Adaptation.

He writes:

“Academy Award nominee LaKeith Stanfield (The Book of Clarence) is in talks to star in and produce a feature adaptation of the hit neo-noir video game El Paso, Elsewhere, Deadline has learned. The film will center on James Savage (Stanfield), who while recovering from a toxic relationship, confronts both his inner demons and enigmatic ex-girlfriend, Janet, before she executes a world-ending ritual. James navigates her reality-bending universe of ethereal monsters while facing the truth of his own addictions and skewed sense of self-worth, learning that the only route to love is through healing.”

The Numbers ranks All Time Worldwide Box Office for Based on Game Movies and crowns 2023’s The Super Mario Bros. Movie the king with over $1.3 Billion.

Video game movie adaptation crosses over two entertainment segments: gaming and movies. Guess what. Gaming is twice as lucrative.

According to PwC, “Total gaming revenue is expected to rise from US$227 billion in 2023 to US$312 billion in 2027, representing a 7.9% CAGR (compound annual growth rate.)” Meanwhile, “Global Movies and Entertainment Market size is poised to grow from USD 104.49 billion in 2023 to USD 182.23 Billion by 2031, at a CAGR of 7.2%,” according to SkyQuest.

My take: Apparently it was over 40 years ago when gaming first bested films and music: “In 1982, the arcade video game industry reached its peak, generating $8 billion in quarters, surpassing the annual gross revenue of both pop music ($4 billion) and Hollywood films ($3 billion) combined.” Now, gaming is by far the winner. btw, Minecraft (the movie) is coming in April 2025.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.