Nintendo profits triple as industry continues booming during the pandemic

  • Subscribe!

  • 2020 has been extremely tough on all of us. Well, some of us more than the others and the same can also be said for certain sectors and industries around the globe. Small businesses, for example, are struggling to stay afloat and tourism as well as restaurants and the like are being closed left and right.

    This, unfortunately, is not a big surprise considering those specific sectors depend on human contact and people being able to move around and interact freely. But then there’s the other side of the coin – the sectors that are simply booming in the face of a deadly pandemic raging in the outside world.

    One such industry is the gaming industry, of course. With most people being ‘chained’ to their homes, many have turned to video games on various platforms as a tool to escape boredom and pass the time until life returns to normal.

    BBC have reported that Nintendo’s profits have tripled as the coronavirus boom in video games continues. Now, the sales of their Switch console have increased dramatically in the half year to end of September with no apparent signs of stopping.

    Games like Animal Crossing, for example, seem to be the latest craze and people are still rushing to stores just to be able to experience some of the exclusives the Japanese company has on offer. But it’s not just Nintendo, Sony are experiencing a rather similar thing themselves.

    We all know the new Playstation 5 is hitting the shelves now and the demand for the console is much higher than initially expected. This, the same source continues, could also be down to the coronavirus situation. Of course, we shouldn’t forget how wildly popular the Playstation is in general.

    People of all ages are going crazy with the console so even without the pandemic, it’s more than likely that it would’ve done extremely well on the market. The outside circumstances have only accelerated the process and, in turn, filled their pockets as well. Because, after all, with so many people staying home so much, they’re bound to reach for their video games, movies and alike.

    But the gaming industry is not the only one booming right now. The same can be said for sectors like health & fitness or even the gambling industry. Search interest for online gambling for an example has been at its highest over the last few months with online outlets like offering new users generous bonuses and welcome offers.

    It helps if the odds are often in your favour and you actually do the research for your prediction rather than making an ‘educated guess’. But people have found ways to win money without actually making huge deposits just by doing some prep time beforehand.

    But even with some making insane profit by gambling smartly, with COVID-19 still going strong across the globe, it is likely that these particular sectors will keep thriving for the foreseeable future. Lockdown is bound to create more gamers each passing day and the longer it goes on, the richer the likes of Nintendo and Sony become.

    The big seller for the former were of course the Switch consoles with an incredible 12.5 million units in a really short period of time. The aforementioned Animal Crossing game, specifically the New Horizons edition, shifted 14.27 million units as well.

    As a whole, Nintendo profit before tax jumped to almost 300bn yen, which is the equivalent to £2.2bn, in the six months to 30 September, rising from the initial 85bn yen just one year ago. The numbers are surreal and they could keep on climbing as long as the pandemic is still around.

    But if those companies are thriving, that also means there’s more work to be done. And with people losing their jobs so often, seeing some industries boom can only be a good thing because it means at least some of us won’t have to worry about getting laid off. And as those sectors expand, more job opportunities are bound to pop up as well.