Microtransactions are making mega billions

Answer: $73.27 billion dollars

Questions:

• Would you spend money on microtransactions in a game you enjoy? Why or why not?
• Why do you think so many gamers choose to spend money on microtransactions?
• What do you think are the biggest drawbacks of microtransactions for players?

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the Numbers (The Business Research Company):

"The main types of online microtransactions are in-game currencies, random chance purchases, in-game items, and expiration. In-game purchases are items or points purchased by a player for use within a virtual world to improve a character or enhance the playing experience. The various model involved are prepay model, postpay model, and others and are used in mobile, console, and PCs.

The online microtransaction market size has grown rapidly in recent years. It will grow from $73.27 billion in 2023 to $80.88 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to gaming industry growth, digitalization of entertainment, free-to-play model adoption, virtual goods and cosmetics, mobile gaming proliferation."

About the Author

Dave Martin

Dave joins NGPF with 15 years of teaching experience in math and computer science. After joining the New York City Teaching Fellows program and earning a Master's degree in Education from Pace University, his teaching career has taken him to New York, New Jersey and a summer in the north of Ghana. Dave firmly believes that financial literacy is vital to creating well-rounded students that are prepared for a complex and highly competitive world. During what free time two young daughters will allow, Dave enjoys video games, Dungeons & Dragons, cooking, gardening, and taking naps.