With the technological advancement of our world, it is critical to understand the scope and future of the video game industry, as it is one of the fastest growing markets in the world. There are innovations in technology and hardware with different devices, advances in graphics that can essentially transform games into art, opportunities for individual profiting off of content creation and sharing, and even professional “E-sports” leagues based around popular games that draw larger global audiences than most telecast events.
In terms of research, there will be lots of data gathering from various online sources and publications, including business financial statements, sales on consoles and games, elasticity of games and devices, advertising expenses and changes, sales on accessories and complementary goods, and view counts and ratings from gaming related entertainment. After this collection of preliminary data, I will analyze each data set and present my findings graphically or verbally regarding things like total output and household spending. Additionally, I plan to read articles and reports about the impacts of the gaming industry on areas of technological advancement like virtual reality, military training, healthcare, sports entertainment, and attempt to explain how these will contribute towards positive externalities for the US economy.