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– The U.S. video game industry generated a record $43.4 billion in revenue in 2018, up 18 percent from 2017, according to new data released today by the Entertainment Software Association (ESA) and The NPD Group.
“2018 was another record setting year for the U.S. video game industry as consumer spending jumped 18 percent to over $43 billion. Whether it was playing on the go on a mobile device or at home on a PC or console, consumers of all ages and interests found compelling content that delighted in 2018,” said Mat Piscatella, video games industry analyst, The NPD Group. “Console, PC, and mobile platforms all saw significant growth, while developing portions of the market like subscription and streaming services gave us a peek into a future full of possibilities for the industry and gamers.”
Both hardware revenue, which includes peripherals, and software revenue across all platforms (console, PC, portable, and mobile), from physical and digital sales, including in-game purchases and subscriptions, experienced record growth in 2018.
|U.S. Video Game Industry Revenue||2018||2017||Growth Percentage|
|Hardware, including peripherals||$7.5 billion||$6.5 billion||15%|
|Software, including in-game purchases and subscriptions||$35.8 billion||$30.4 billion||18%|
|Total:||$43.4 billion||$36.9 billion||18%|
Source: The NPD Group, Sensor Tower
There are 150 million Americans who play video games, making the U.S. video game industry one of the nation’s fastest growing economic sectors. The industry provides more than 220,000 jobs in communities across all 50 states, and more than 500 colleges and universities across 46 states offer programs or degrees related to video games.
Mobile spend data, which includes paid downloads and in-game purchases for mobile and tablet devices through Apple’s App Store and Google Play, was collected from Sensor Tower.
Affiliate marketing is a popular tactic to drive sales and generate significant online revenue. Beneficial to both brands and affiliate marketers, the new push towards less traditional marketing tactics.
Affiliate marketing is the process by which an affiliate earns a commission for marketing another person’s or company’s products. The affiliate simply searches for a product they enjoy, then promotes that product and earns a piece of the profit from each sale they make. The sale are tracked via affiliate links from one website to another.Read More
What does it mean to scale a business?
‘Scale‘ is increasingly being used as shorthand for ‘scale up’ (“to grow or expand in a proportional and usually profitable way”) and as a noun that means “proportional growth especially of production or profit” and/or “a large market position.”
Here are 5 steps to Scaling a business in 2018:
- Evaluate and Plan. Take a hard look inside your business to see if you are ready for growth
- Find the Money. Invest. Scaling a business doesn’t come free
- Secure the Sales.
- Invest in Technology.
- Find Staff or Strategically Outsource.
Jimmy Iovine and Dr. Dre may have built a $3.2 billion empire on a product that cost less than $20 bucks to create.
The New York Times reports that Dr. Dre’s Beats by Dre headphones are inexpensive to make, with headphone designers estimating “the cost of making a fancy headset is as low as $14.” A pair of Beats by Dre can cost upwards of $450.
While Beats by Dre may be made for cheap and have questionable sound quality, the brand is a marketing juggernaut. Beats by Dre owns an 27% of a headphone industry that reported $1.8 billion in sales last year.