It has become common to just accept video games to be the UK's largest entertainment medium, as it has been the case for over a decade. However, now that 2023 is over, this has changed, because GamesIndustry.biz has revealed that video is now the country's largest entertainment medium.
The information comes via a report from the ERA, the UK trade body representing video, music, and games retailers. The report notes that the games industry managed to rake in £4.74 billion for the UK last year, which was up 2.9% over 2022. However, video-based content grew a whopping 10%, totalling £4.9 billion, all thanks to the continuous growth of the streaming service sector, which accounts for a mega 89% of the video market. The music sector was also up 9.6%, reaching a revenue of £2.2 billion.
The last time a different medium unseated the games sector was back in 2012, meaning games have held the entertainment throne in the country for over a decade.
Regardless of the medium, the report also reveals that 92% of all sales were digital, showing how significantly the physical market is dwindling. Likewise, the report noted that the year's biggest video product was Avatar: Way of Water, which shifted 560,000 units sold.