Many of the youth certainly have this question (how to make money from video games and entertainment?) pasted constantly on their chests and this includes those who still deem themselves exposed enough to have a chance to this civilization.
Since the only structure that keeps the world strongly founded and running is the economic structure which forms the questions of how much you make and how much you have simply because our individual existence depends on it, it is good to ask how to make money from video games and entertainment?
To appreciate the profit potential in gaming, consider the size of the video game industry. Globally, about two in five people play video games, with the number of gamers estimated to grow from 2.95 billion in 2022 to 3.07 billion by 2023, according to a report by game market research firm Newzoo.
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The global video game market was valued at $195.65 billion in 2021, on track to increase at a compound annual growth rate (CAGR) of 12.9% from 2022 to 2030, according to a report by market analysis firm Grand View Research. This huge industry employed nearly 300,000 workers in 2020, industry data analyzed by market research firm IBISWorld indicates.
How to Make Money from Video Games and Entertainment?
Although there is not so many people that earn their full-time living from video games, a larger number of people are required to sustain the industry. Hence the need to start asking the question, how to make money from video games and entertainment?
There is not anything serious or heartbreaking there! This is just a hobby that has the potential to pay off. Besides hundreds of thousands of full-time office and remote workers, the video game industry is supported by a proportionate number of open-source developers, beta testers, reviewers, bloggers, brand ambassadors, social media marketers, and others. Let us therefore take a peep at some of the how’s:
Stream Live
If you’re good at gaming or if you have an entertaining personality, you can make money live streaming yourself playing. Now you might be wondering, why would anyone want to watch me play, and why would anyone want to pay me to play? There are a number of reasons people like to watch other people play video games:
- To pick up tips from someone who is a more advanced player
- To witness exceptional gameplay
- To listen to someone who offers entertaining narration as they play
- To connect with others in the gaming community who are watching
To make money from live streaming, you’ll need to be interesting enough that people want to watch you play. Being a good player is the easiest way to attract interest, but if you’re funny or good at telling stories while you play, people might watch you even if you’re not the best player. You’ll also need a suitable platform for live streaming. Some of your best options include:
- Twitch
- YouTube Gaming
- Facebook Gaming
- DLive
Creating Game Guides on Video Platforms
Making video game guides on platforms such as YouTube is another way you can earn money from gaming. Video game players seek out guides for a number of reasons.
To successfully employ this method of making money from gaming, you’ll need equipment such as a camera, microphone, and video editing software, in addition to whatever equipment you use to play video games, whether you’re on a console or PC. You’ll need to be able to make video guides. This involves:
- Recording screenshots of yourself playing
- Using video editing software to edit your raw footage
- Adding effects such as text, music, and animation
- Uploading and sharing videos
Offering Game Coaching Tips
Another way to make money sharing your gaming expertise is by becoming a video game coach. Video game coaches help clients improve their gaming skills. Game coaches may provide services such as:
- Reviewing recordings of game replays and offering insights
- Providing guidance through strategies, tips, and practice drills
- Observing live play
Game coaches may provide services one-on-one or in a group coaching setting such as a webinar or digital workshop.
Depending on your level of expertise, you can offer game coaching services to any level of player from beginner to tournament competitor. The higher your skill level and the deeper insight you can offer, the more you can charge. Coaching can work well in conjunction with some of the other monetization ideas covered here. For example, if you’ve already got a live stream following or you’ve been sharing video guides with your followers, you can offer coaching services to them.
Become a Video Game Journalist
If you’ve got writing skills to go with your love of video games, you could be making money as a game journalist. Gaming journalists can get paid for: Writing game reviews, Reporting gaming news, Interviewing figures in the video game industry, and Covering game industry events.
If you want to go into game journalism, you’ll need strong writing skills first. A degree in journalism or a similar subject can help, but it’s not as essential as demonstrating your ability to write. Consider starting a blog to gain experience and build a portfolio you can show editors. You can monetize your blog through methods such as ads and affiliate marketing while you’re building your credentials.
You don’t have to restrict yourself to writing about video games, either. If you can gain writing experience blogging on other topics, this can provide you with a platform for launching into game journalism. You may find it easier to break in if you can carve out a specialty in a particular niche. For example, you might focus on writing about a specific game or brand.
Run Video Game Quality Assurance (QA) Testing
One way to start gaining experience as a QA tester even before you’re certified is by volunteering as a beta tester. Beta testers are groups of users who help development teams review products that are nearly ready for public release. They often are volunteers, though they can be paid. You can join beta testing communities to get involved. This also can be a great way to network and learn about job opportunities.
QA testers’ responsibilities include: Playing games and providing technical feedback, Writing bug reports, Recording crashes, and Passing on feedback to other members of the development team, such as engineers, designers, and artists.
Hosting a Gaming Podcast
If you like to talk about gaming, hosting a podcast can be a way to make money. Podcasts can include various types of gaming-related content, including: Commentary on gameplay, Game reviews, Industry news, Interviews with gaming industry representatives Audience question-and-answer sessions, and Humor.
Podcasts can be monetized in numerous ways, such as: Crowdfunding and donations, Selling premium content, such as tutorials or coaching, Hosting exclusive events, Advertising revenue, Brand sponsorships, and Promoting affiliate marketing products.
Engage in Some Video Game Development
If you have the passion and talent to create your own video games, another way to make money playing games is to become a game developer. Game developers take game concepts and translate them into programming code that can be used to play games. They also serve as game testers. Some developers also may contribute to the creative development of game concepts prior to or during the programming phase.
To gain experience as a developer, you can practice developing games on your own. Start with simple games, and as your skills improve, try more complex projects. This will help you build a portfolio you can use to demonstrate your skills to employers.
