Coronavirus Lockdown Leads To Gaming Boom: 5 Stocks To Watch

Over the past three months, the novel coronavirus outbreak has put cities under lockdowns and confined people to their homes. With schools, colleges and offices shut down, people are looking for sources of entertainment to keep them engaged. The online gaming space driven by Internet and cloud technology connects gamers worldwide.

Evidently, on Mar 22, On Steam, one of the largest PC gaming platforms said that it has hit a new record with nearly 20.7 million players actively gaming or chatting on its platform at the same time. The recent development in online gambling practices is also helping the gaming industry boom.

Online Gaming in Vogue

Game streaming has been trending in the past few years. And with gaming platforms like Twitch that make the experience lifelike, the graph is likely to move northward in the future as well. As a proof, Twitch recently reported that its week-on-week engagement is growing with average concurrent viewers now more than 1.5 million.

In 2019, e-sports recorded rapid global growth with revenues exceeding $1 billion and more than 443 million audience across the globe. The majority of the fans were based in North America and China. And why not? Internet usage is relatively low in online gaming. However, downloading games can be bandwidth-heavy.

Moreover, due to the current quarantine and lockdowns, physical sports have been put off. Thus, several companies are now focusing on online gaming. Boxing for example has a huge fan base. With real-life fights postponed due to the virus outbreak, companies have turned to gaming to keep fans entertained.

The fights are being played using computer-versus-computer simulations, with greatest-ever heavyweights pitted against each other in a tournament series and streamed online. The first two contests were viewed by nearly half a million people from across the globe and put Electronic Arts Inc.’s (EA - Free Report) game Fight Night Champion in limelight.

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Angry Old Lady 2 months ago Member's comment

Why would that lead to gaming boom?? With so many people out of work, I think they'd have more important priorities - like food!

Dick Kaplan 2 months ago Member's comment

Yes, but keep in mind, that lots of people are stuck at home now, but are still getting a salary and in many cases are (supposed) to be working from home. They still have the money to spend, but limited options on what to spend it on.

Adam Reynolds 2 months ago Member's comment

Food is very important but people still need something to do and $60 for hours (or literally days) of entertainment is definitely worth it to many. Especially now with so many people quarantined or stuck at home.

Jason Green 2 months ago Member's comment

The support given will help some in dire straights, no doubt, but countless more people already have money and are now to be given more money and will have nothing but time. Any online entertainment option, and especially gambling, will benefit greatly.