China already has the largest gaming market on the planet, but most of that is on PC and smartphones — especially since the country banned consoles for 15 years. Now, the television screen is about to get in on the action.
By 2020, 21.5 million people in China will play games on their television screen using a console, an over-the-top box, or app-enabled “smart” TV, according to research firm Niko Partners. In 2015, only 7.8 million people played games on their TV. Niko is predicting a compound annual growth rate (CAGR) of 22.3 percent over the next half decade, which would represent an enormous surge in spending. Last year, China surpassed the United States and Japan as the top gaming market with $21.2 billion in game-related revenues, according to intelligence company Newzoo. And the growing console and TV space could benefit already massive entities like Tencent even more.
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