Video games and their global popularity were the subject of the opening keynote speech on the first day. Licensing Expo 2024taking place at the Mandalay Bay Convention Center in Las Vegas from May 21-23. Leveraging the event's theme, “Brands at Play,” the session, “Video Games: Driving Billions to Play,” brought together key executives from four global gaming brands and was moderated by Ben Roberts, director of content at License Global.
Panelists Nick McWhorter, Director of Global Licensing; cd project redDoug Rosen, Senior Vice President of Games and Emerging Media; paramountMaya Rogers Chief Executive Officer; Tetrisand Ivo Gerscovic, Chief Business and Brand Officer. Sega of America explores the 'why' behind gaming's massive growth in popularity, what gamers want from brands, and what the next franchise model is for video games, from new IPs or revivals of traditional titles. I looked for ways to be guided.
It is estimated that 48% of the world's population considers themselves to be casual or active gamers. The video gaming sector is building a community of billions, as mobile games reach more players than ever before.
The panel highlighted how this number shows that video games need to reach a large and engaged audience for brands. Maya Rogers emphasized the importance of creating seamless experiences across different platforms, and Doug Rosen highlighted the industry's growth potential.
Speakers also discussed the complementary nature of games to television and film, and the need for them to truly engage with millions of people. “Due to COVID-19, we’ve seen a huge increase in people playing games,” Rosen said. “It's stabilized a little bit, but the growth trajectory has been phenomenal. From the studio side, games are complementary to TV and film. It’s a great way to expand into locations.”
“Initially we were trying to distance ourselves from retro, classic gaming, but now we've embraced it,” Rogers added. “For example, the Tetris movie that came out on Apple TV last year has transcended the brand into another medium. Video games on the big screen and on TV are becoming more mainstream.”
McWhorter highlighted how this opens up gaming to non-gamers, who become consumers of the IP through related consumer products programs.
Rogers also highlighted collaborations with nonprofit organizations, one of which will be on the Licensing Expo exhibit floor this week. “Tetris is partnering with the American Red Cross to raise awareness and encourage people to donate blood at our exhibit. Anyone who donates blood this week will receive a limited edition Tetris T-shirt.”
Nostalgia is a central theme in all licenses, and games are no exception. “We call it 'New Stalgia,'” says Rogers. “People are rediscovering games they might not have played before, because they were younger and might not have existed when the Game Boy was released. But now they're rediscovering games they might not have played before. I'm discovering retro games as new games and new ways to play.”
Speakers agreed that video games offer brands a unique opportunity to reach a large and engaged audience, and a properly executed strategy can lead to significant growth and recognition.
The session ended with an outlook on the future of gaming, emphasizing the importance of quality, authenticity, and emotional connection.
