Gaming advertising is still in its early days, with some brands remaining skeptical about spending more on that sort of content. Going into 2024, convincing marketers to spend more confidently in gaming will be key to the success of companies in the space.
After an explosion in global gaming activity during the COVID-19 pandemic, gaming came back to the ground somewhat in 2023, but it is now firmly established as one of the most popular entertainment channels, and perhaps even the most popular, according to a 2023 study by Deloitte. Yet stakeholders in the gaming marketing and advertising industries feel that brands’ marketing spend in gaming has not yet scaled up to match this potential opportunity.
“I feel like [former Yahoo! chief sales officer] Wenda Millard 20 years ago, when eyeballs were up here and ad spend was down here — and here we are now, and 80 percent of all spending is digital,” said Enthusiast Gaming CEO Nick Brien. “So there’s always a lag; there’s a lag in any media.”