Gaming companies – a recipe for business success
In the past decade, online entertainment companies, mainly the ones operating in the gaming field, have reported an increase in revenue and it became obvious that the current evolution of the technological society welcomes as many innovations as possible in terms of multimedia entertainment. In the past, computers were the only devices associated with games, but today, with the advent of consoles such as PlayStation, Wii and Xbox, there are even more opportunities available. In fact, games, whether they are played online or offline, have almost become a form of art, thanks to the impressive combination of high end graphics, well chosen soundtrack, popular themes, gripping gameplay and interesting plot. Although offline games remain popularity, the possibility of playing online with people all over the world is gaining ground. A perfect example is League of Legends, which was launched in 2007 by Riot Games and is still the most popular game in North America. The game is free to play and users need real money only to buy riot points and skins. It is an interesting business model and people wanted to make a LoL account from the moment the game was released. In fact, the game seems to become a major phenomenon and millions of people play it worldwide.
The idea of releasing a game that doesn’t cost anything to install could seem unprofitable and it might have been, a few decades ago. But today, it’s an interesting strategy that can offer great results. League of Legends makes enormous profit from skins and riot points alone, which shows that if a game offers interesting content, players will invest in it. In 2012, Riot Games made nearly 4 million from selling skins and the profit keeps on growing year after year. Riot Games is not the only company that found success. EA Games, Valve Corporation, Ubisoft and Capcom have also become more popular and, as a result of profit, their games started to get better and more complex.
Interestingly, online games have set in motion an entire industry. Apart from in-game store, there are many other providers that help gamers have a better online experience. For example, in the case of League of Legends, there are many websites that offer skins as well as unranked accounts and packs with riot points and influence points. A while ago, it would have seemed very peculiar to imagine that selling virtual goods could ever be profitable. However, gaming is extremely popular and people are willing to invest a lot of money into things that aren’t exactly tangible. For those who have ideas for gaming, there is both good news and bad news. The market is very receptive and whether you want to launch a game or a website that offers gaming-related solutions, you have quite a wide consumer range at your disposal. However, the bad news is that there is a lot of competition in this field and if you want to stand out you need be innovative and professional and come up with an idea that is creative and, most importantly, offer a high quality service.