By Sagar Mankar 
The concept of subscription services has become a significant part of our daily lives, influencing how we access and enjoy various products and services.
Slowly but surely, the gaming industry is also embracing this trend, with numerous paid subscription services competing for the players’s attention these days.
Well-known services like PS Plus, Xbox Game Pass, GeForce Now, and Loot Crate are just a few examples of the many gaming subscription services available to gamers.
A recent report by Omdia highlights the impressive growth in gaming subscription revenue, pointing to a bright future for this market segment.
As per the report, gaming subscription revenue is set to see a significant rise, projected to exceed $22 billion by 2027. Currently, it stands at around $16 billion.
Considering the significant financial opportunities associated with gaming subscriptions, it comes as no surprise that industry players are eagerly adopting subscription-based models to strengthen their financial foothold.
Omdia’s report reveals that an impressive 92 million subscribers are currently using “games library services” through platforms such as Xbox and PlayStation.
Furthermore, the report predicts a notable increase in revenue for cloud gaming providers, with an estimated $6.4 billion by 2027.
Additionally, in-game subscriptions are expected to contribute about 30% to the overall revenue, highlighting their crucial role in the gaming industry’s financial success.
For more updates on gaming trends, stay tuned to Gaming Foodle!
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