Zoom use and video game sales booming while streaming services’ profits remain stagnant
With the state of the world right now, nothing is as it used to be. Many companies and businesses are failing due to having to close down. However not all businesses are experiencing this issue. Online companies are profiting more than ever, and it’s due to the quarantine. With most Americans staying in their homes, the only way to be entertained and shop is online.
A little known company before the quarantine, Zoom has become the most utilized online video call platform in the United States. The company’s stock has doubled in value since the beginning of quarantine, and Zoom is the top most downloaded app at the Apple Store. One reason for the rapid growth of Zoom’s popularity is because Zoom is used by many schools to teach lessons to students at home. Then there are hundreds of thousands of families that are taking advantage of Zoom and other similar online meeting sites to hold family get-togethers. Additionally, with many corporations having to operate remotely, more and more of them are using Zoom to conduct business meetings, Zoom’s original function.
So people use Zoom for work and school, but what about entertainment? The always popular video games are becoming even more popular during this time of quarantine. As always, people can play against each other in their favorite video games via the internet network communities gaming systems provide. Six feet? This could be social distancing of 6,000 miles!
Video game companies such as Activison, Ubisoft, and EA Sports are booming in sales and players. To lure players in and make their community happy, these companies are adding double rewards to their games. An example would be EA Sports’ Madden 20, which has always given rewards to its network players, is currently doubling those rewards. With players returning to games they used to play and new players finding more games to play, the video game corporations have never had it better.
On the flip side, one might think that video streaming companies such as Netflix and Hulu would be raking in big profits during these times. But that is not the case. The battle between Netflix, Hulu, and Prime Video has been put on hold due to the increase in new streaming services that are providing their services free, if only on a limited trial basis. So even though more people are streaming more shows and movies, the video streaming services are seeing an increase in profits.