New Report Reveals Cloud Gaming Generated Nearly $1.5 Billion Last Year

Last year, cloud gaming revenue doubled from the 2020 figure (which was around $671 million), according to a new report from Newzoo. According to data from Newzoo, 21.7 million users of various cloud gaming services have collectively generated nearly $1.5 billion. The report also predicts that this number will exceed $6 billion by 2024.

Xbox game studios
Xbox Game Studios now has a cloud gaming division called XGS Publishing Cloud.

The hardware shortages created by the pandemic are believed to have contributed to more widespread adoption of cloud gaming. And with Sony and Microsoft both looking to expand their cloud gaming offerings, it seems like things are picking up speed in the cloud gaming business lately. Microsoft, in particular, has been keen to involve more game developers with its [email protected] program in addition to opening a cloud gaming division to Xbox first-party studios.

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