Have you ever thought of starting an online business? Ever been curious about the ROI of a successful online gaming platform? Don’t be surprised by the fact that businessmen have generated more than $280 billion through different online gaming businesses, still pondering on whether the gaming business is profitable or not. Further clearing your doubts, predictions suspect that the market will grow 8.76% annually for the next 3 years (source: Statista). Now that you have a pretty solid reason to dive into the online gaming market, let’s get on with the business ideas you can invest in.
However, before listing down all the potential ideas, we shall discuss more reasons for you to start an online gaming business, apart from the possibility of earning billions of dollars.
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Apart from having a streamlined cash flow, scaling an online gaming business is pretty easy compared to other businesses. Thanks to its growing market, and now e-sports in the picture, we can expect steady growth in gaming businesses. The gaming industry has left behind the music and entertainment industry with a rise in AAA and quadruple-A games like Black Myth: Wukong, which produced a global phenomenon setting the gaming world abuzz.
Generating revenue through traditional means like selling the title is not the only revenue stream in the modern world. You can create a revenue stream by including in-game purchases in your game. Additionally, with the advent of technologies like cloud gaming, augmented reality (AR), and virtual reality (VR), the gaming community is excited to experience their favorite games through these technologies.
Gone are the days when we relied on PCs to experience the fun of gaming. With almost all games being optimized for smartphones and AAA games being developed keeping mobile phones in mind, more players are drifting to the gaming scenario. These changes have resulted in the strengthening of the gaming community which boasts over 3 billion players, making it one of the largest communities in the world.
Starting a successful online gaming business is a challenging process that requires the perfect execution of your business idea. If your idea gets a perfect shape, your business will flourish, and you will generate revenue from it. To transform your idea into a successful online gaming business you should hire an experienced game development company that has rich experience in creating game platforms. Because only the right development partner can help you easily achieve your goals.
Here is the step-by-step process to start an online gaming business in the USA:
Let’s dive into the Business models you can undertake to flourish in the online gaming industry.
From a business POV, start-ups focusing on the development of small games just for mobile or social media do not hurt your finances. There are multiple reasons for that fact, the primary benefit is that you get to develop these games using affordable platforms like GameMaker. Since the development cost is next to none, you can deploy your game on the Play Store and App Store in a jiffy. Without any purchase fee, the game will attract users on a broader scale.
Another huge benefit of mobile game development is the diverse mobile game audience. Increased smartphone penetration, and the new Ray-Tracing Technology in latest iPhones have led people of all demographics to enjoy mobile games more intensely.
In countries like Japan, people are more driven towards mobile games. More than 50 percent of the Japanese population prefers mobile games over consoles or PCs. These games are in high demand due to their ease of accessibility. Moreover, these games are easily circulated on social media platforms, and the social media community is the largest in the world. With over 5 billion active users, if the game picks up the pace on social media, it can do wonders for your ROI.
Developing mobile games for platforms like Facebook, or independent games costs a dime and if they become popular can generate multiple source revenues. For example, in-app purchases, advertisements, and subscriptions are some of the few monetization strategies to generate revenue from mobile games.
The biggest challenge you face while creating a game is bringing something that is out of the box, as smartphones have a diverse section of games already available on the internet.
Creating something that is unique and is not already floating on the internet has the potential to break the internet. If you develop a racing game, there are tons of racing games like Asphalt already on the internet. If you go with combat games, titles like Shadow Fight and Mortal Combat are ruling the market. The same goes with no-end games, Subway Surfer and Temple Run are two of the most played games on mobile. World-building games are donned by Clash of Clans, and games like Candy Crush are popular in the puzzle segment. Therefore, creating something different from the rest requires an ultra-creative mind.
The next business idea that comes with fewer hurdles and big rewards is creating an action RPG for mobiles. Titles like Genshin Impact, Blade and Soul Revolution, Call of Duty: Modern Warfare, and PUBG have a massive following.
The benefit of creating an action-RPG game is that you can purchase the game assets used in past games which can give you a headstart in creating your own game. Also, these games remain high in demand and are appreciated by millions of players worldwide. So if you want to build an action-RPG game for your audience, it will be a hit given it is thoroughly optimized and advanced game mechanics are incorporated.
Gamers are shifting from PCs and consoles to mobile games, meaning we will see an outburst of mobile gamers in the upcoming years. Having a business in online games can amplify your revenue in the days to come.
The game mechanics used in action-RPGs are not simple to develop. Developers use AI integration to create elements in the game which takes time to develop and requires a certain level of expertise. Installing an intricate combat system in the game clubbed with high-end graphics can be an industrious task.
Building a AAA game can take months, it also requires a great ton of money. Investing in a triple-A game can seem like a big deal, however, the returns are hefty in this segment. Taking the example of Black Myth: Wukong, the game cost around $100 million. Now you must be thinking, where’s the fun in that, spending so much money on a game?
Black Myth: Wukong is expected to rake in around half a billion dollars in its very first year of release. Assume yourself as the producer of this game, you can imagine how rich you would become post this game’s release. Yes, these games compete with Hollywood Blockbusters in terms of production, but they bring in a lot more than a Hollywood Blockbuster’s box office collection.
Another opportunity up for grabs is in developing card or board games. Unlike other ideas where you were required to do a lot of market research and come up with something very alien, you don’t need to stress your brain in finding something out of this world.
As these games have a similar set of rules and play mechanics, there’s not much room for creativity. Apart from a bit tweaks in the user interface, all the card and board games run on the same mechanics.
Another benefit of card/board games is that you can easily get clones of these games and integrate them into your app, and you are good to go. These games have a global dominance, probably because you get the chance to multiply your funds through these games.
Card games like Poker, Rummy, and Three Card Brag among others are very famous in countries like the US, China, and Japan, meaning you get a large audience indulges in these games. Board games like Bingo, Carrom, Ludo, and Chess also have a wide popularity around the globe. These games are easy to develop in terms of cost and process, and you can easily capture the market with the right development agency.
BR Softech excels in developing Card and Board games, they have a streak of creating captivating apps for their clients. They are best suited for developing any kind of online game as well, from mobile games to AAA games, BR Softech should be your pit stop for all game development solutions.
E-sports is one of the most popular gaming trends of 2024 and will surpass all the trends in 2025. However, it can be transformed into an exciting video game business idea with little effort. E-sports tournaments are competitive gaming events where players from all across the globe compete for money and recognition.
Compared to other options, starting an esports business has a low startup cost. The popularity of E-sports is growing exponentially and the demand is expected to increase in the future. E-sports tournament hosting isn’t just about entry fees, you can earn money from sponsorships, advertisements, merchandise, and concessions. Unlike sports games, there are no geographical boundaries in e-sports. You can host a tournament anywhere and attract players from around the world. The Esports community is active, passionate, and growing rapidly.
Cracking an online gaming business is not a Herculean task. If you play your cards right, it allows you to earn millions, if not billions. You can choose from the vast ocean of business ideas in the gaming sector. The gaming community is one of the largest communities in the world with over 3 billion players, just lagging behind the Social media community, and is expected to become the largest soon. Given it is the fastest-growing industry in the world, investing and being a part of this domain works in your best interests.
Before starting a gaming business, you need to keep certain factors in mind:
Conduct thorough research
Build a team of professionals
Keep the legalities in check
Study the competition
Focus on retention and growth strategies
Yes, gaming is the fastest-growing industry in the world and it is highly profitable to invest in it.
As a startup, there are plenty of options in the game industry including:
Online Gaming Platforms
E-sports
Video Game Podcast
Game Streaming Services
Starting an online gaming business with minimal investment can be challenging, but it’s not impossible. Here are some steps you can take to kickstart your online gaming business with minimal investment:
Research and Planning
Using Free Platforms and Tools
Learning and Developing Skills
Utilizing Open Source or Free Game Assets
Freelance Collaboration
Bootstrapping
Marketing Through Social Media
Monetization Strategies
After following these steps you can successfully start your online gaming business in India. But, this is a lengthy process that consumes too much time.
