The embedment of the video game industry into film and TV in the past five years can be attributed to several tectonic shifts. As a relatively young industry compared to its entertainment counterparts, video games have swiftly transitioned from niche to mainstream, experiencing unprecedented growth. In 2021, the gaming industry expanded to total revenues of $180.3 billion and counted 3.0 billion players.
One of the key catalysts for this transformation has been the increased reliance of the film and TV industry on video game graphics engines, such as Epic Games’ Unreal Engine. Virtually every CGI-intensive production, including the highest-grossing films and TV shows, now utilises these engines, leading to a significant enhancement in development and visual fidelity within the virtual worlds frequented by gamers.
Furthermore, the involvement of acclaimed filmmakers like Nicolas Winding Refn, Guillermo del Toro, and fantasy luminary George R.R. Martin has played a pivotal role in repositioning games as an art form. Additionally, video game creators themselves, such as the legendary Hideo Kojima, are being celebrated as auteurs. Garnering recognition with the recent launch of a documentary biopic at renowned film festival Tribeca and attracting top-tier acting talent for his games, as demonstrated by collaborations with Lea Seydoux and Norman Reedus.
The recent focus on the metaverse and virtual reality by major tech companies, along with successful high-profile TV adaptations like The Last of Us, have triggered a race for valuable intellectual properties within the industry. In fact, the acquisitions made by Microsoft/Xbox alone in 2022 surpassed $100 billion, dwarfing even the most significant acquisitions in the world of movie studios.
With more money being invested in video games than ever before, there is an opportune moment for FilmChain and our collection account solution to step in. By providing tech solutions in connection with payments for an industry built on digital technologies we aim to address the historical lack of transparency in the entertainment industry as a whole.
Our vision is to build a fairer and more sustainable foundation, introducing visibility into the recoupment plan and enabling improved and faster cash flow. Through these efforts, we aspire to steer the industry towards rewarding growth for both creators and consumers. The need for transparency in the video game industry is paramount, and we believe our solution can contribute to creating a more equitable ecosystem that benefits all stakeholders involved, from game developers and producers to writers and directors.
If you or someone you know identifies with our mission statement and is looking forward to a more sustainable and fair future for the video game industry, reach out to us and let’s build that future together!