Millions of people are flocking to inhabit virtual online worlds, says research by analysts Screen Digest.
The market for massively multiplayer online games (MMOGs) in the West is now worth more than $1bn (£511m)
Revenues from subscriptions to MMOGs will hit $1.5bn by 2011, he said... More than 10 million people will subscribe to MMOGs by 2011, and many millions more will play online games driven by other payment schemes, such as advertising and virtual purchases, the report predicted.
New MMOG genres were emerging, including:
Beyond this article:
It is important to note that virtual worlds such as Second Life are mimicking real life. People are spending real dollars to advertise and buy virtual real estate in growing numbers.
Politicians are campaigning with Second Life. MLB has advertised the home run derby within Second Life. There have even been terrorist attacks within the virtual world. The list goes on...
Virtual worlds are changing the way we interact with media and they create an entirely new platform for advertising. We have already seen companies begin to advertise within video games, and now we see it in multiple forms (audio, video, and on billboards) within these virtual worlds. This will impact television, advertising, politics, etc. There is no place that is beyond reach for these virtual worlds and their real life economies.