The gaming industry has seen a serious boost since the pandemic. Yes, there was a lot of craze for gaming even before that, but it increased substantially in 2020. People were stuck at homes, and they had very few options for entertainment, so gaming became a viable option for many. This has led to a significant boost in the business of gaming companies. And consequently resulted in the increase of their share prices and revenue. One such company is Roblox, a video game platform for kids, which is now worth over $30 billion.
Growth of Roblox
In 2020 before the pandemic happened, the company was worth $4 billion. And since then, it has increased by 7.5 times at the beginning of 2021. The idea behind the platform and the situation that it has been in is the reason for the success. The platform has a variety of games for all sorts of ages and tastes. And this is the reason that it can serve a wider range of customers making the platform more attractive to investors.
The platform also saves a lot of money on game development costs. By allowing users to develop games on the platform it allows new developers to do business on the platform. Anyone that makes any game on Roblox will get a cut of profits. To make such games users or developers can use the Roblox Studio which is very easy to learn and use. As the industry of gaming moves ahead we can expect even many such companies to come up and do well in the space. As of now, the gaming market is comparatively new with not much competition making it easier for companies to grow in the same.
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