"The gaming industry's biggest growth opportunity comes from the cloud"
The remarks, made by Global X CEO Luis Berruga, were made at Calcalist and Google’s gaming conference
"We are in the middle of a transformation in the gaming industry, and we expect to see more people playing video games as well as spending more time playing in the coming years," said Luis Berruga, CEO of Global X, in a conversation with Meir Orbach at the Calcalist and Google gaming conference, ‘Changing the rules of the game: where the gaming industry is heading’.Whereas people used to play video games at home, alone or with a handful of friends, today’s gaming possibilities are practically endless. Gamers can connect with millions of people wherever they are and play hours of entertainment online. "It creates a very strong incentive for players to connect with people who are very far away from them physically and make meaningful connections in terms of video games," he added.
For gaming today, it’s not just location, location, location. Berruga also stressed just how much choice young gamers have today, versus the limited options that millennials or even GenX had in the 1990s. "When I was a child, my dad would buy me a number of video games a year, and I would have to play the same games all year. Today thanks to streaming and gaming networks, people have access to updates and new real-time content they can purchase from the games, things that just didn't exist before," he said.
“We think the business model is going to evolve so that gamers will pay a monthly subscription fee and get access to a huge library of video games in the cloud,” he continued. “They will be able to do this and receive real-time updates, new content, and new features, allowing gaming companies more ways to reach out and connect with customers for much longer periods of time than before. You can see that the big technology players have already entered the field between them: Microsoft which launched Xcloud, or Google with Stadia. The companies are already positioning themselves for the new wave in the gaming and e-sports industry that will follow."