Half of millennials and Gen Z splash out on video games

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About half of internet users ages 10 to 41 spend money on video games worldwide, and younger users are more likely to cough up.

Beyond the chart: The global gaming market will hit $200 billion in 2023, and in-game purchases of subscriptions and virtual goods, as well as microtransactions, will help boost revenues, especially as Gen Z enters the workforce and has more money to spend.

That said, gaming is a relatively inexpensive pastime, and the low price tag is part of the appeal. With a potential recession looming, cost-conscious gamers may be cutting back on these discretionary purchases, but the industry is expected to stay in good shape as the bulk of its revenues comes from advertising.

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