Tuesday, August 24, 2010

Video game industry makes U.S. economy go up a bit

Video games all got to start out with things like Pac Man and Space Invaders. It is clear that there has been a leap in technology. According to a recent study conducted by Economists Incorporated for the trade association Entertainment Software Association entitled “Video Games in the 21st Century: The 2010 Report,” the video game industry contributed a robust $ 5 billion to the U.S. economy in 2009 alone. Annual growth for the industry went up 10 percent between 2005 and 2009, or seven times the growth of the U.S. economy alone.

More jobs with video games

ESA CEO Michael Gallagher said in a press release that job creation within the video game industry has continued at a “rapid pace,” when making “an essential contribution to our nation’s economy when stimulating technological innovations and expanding the impact of games on our daily lives.” The survey shows us that 32,000 have jobs with video games usually with an average salary of $ 89,781. Directly or indirectly, the video game industry employs more than 120,000 individuals in the United States.

California does it all

California is the largest employer of video game industry workers. Compensation was a big part of their budget in 2009. $ 2.6 billion was given to direct and indirect employees. The state got about $ 2.1 billion in just revenue.

In other states, Texas ranked second with 13,613 employees, followed by Washington (11,225). Virginia also showed tremendous growth from 2005 to 2009, expanding its video game industry presence by a whopping 77 percent.

Giving entertainment a value

A recession means budget cuts in families. Usually entertainment is a part of this. Video gaming is pricey with PCs costing a ton and consoles being anywhere from $ 200 to $ 500. You are looking at more for the games too. $ 20 to $ 60 is needed for each and every game. But if a consumer can derive somewhere between 40 and 100 hours of playtime from a well-constructed game, the price seems much more reasonable, particularly when compared with more passive forms of entertainment like movies, the price of which has skyrocketed in recent years. Hand-eye coordination gets much better along with development when using video games. The video game industry has had a positive effect. The U.S. economy is feeling it.

More on this topic

Theesa

theesa.com/facts/pdfs/VideoGames21stCentury_2010.pdf

Washington State Lt. Gov. Brad Owen knows ‘Pong’

youtube.com/watch?v=M-b9wEww9MA



No comments: