British women to spend over £1 billion on video games

28 July 2017 Consultancy.uk

Women in the UK are predicted to spend more than £1 billion on video games over the following 12 months. The huge figure will likely account for around a third of the annual spend on video games by British adults.

The video gaming industry might have taken a focus on appealing to male consumers traditionally, however women are set to account for almost a third of video game spending this year. Barclays Corporate Banking’s UK Video Gamers Trends Survey found that female gamers in Britain look set to spend £1.1 billion of the total £3.5 billion projected to be spent on video games and their accessories over the next 12 months by adults. The boost to the female gaming market is thought to be driven by the availability of a wider range of non-gender-exclusive titles, as well as substantial growth in the mobile gaming sector.

Fitting in with this proclivity for single-player mobile gaming, women were found to be a great deal more inclined treat gaming as a solitary activity than men. A thin majority of 11% of men tended to play video games socially more often, contrasting with 9% of female gamers. 87% of women preferred gaming on mobile devices to consoles or computers, with the majority of mobile games being single-player titles, compared to 77% of men.

British women to spend over £1 billion on video games

Mobile phones were revealed as the most popular gaming platform currently, with 53% of those surveyed playing new releases through their phone communication device, with the trend looking set to continue as close to a fifth of respondents said they were likely to spend more time playing through phones in the future, at 19%. Tablets meanwhile, which run many of the same titles as mobile phones, and the more traditional platform of dedicated games consoles – were the next most popular mediums on 37%. Surprisingly, only 3% of respondents currently play games direct through TV streaming, a mode of gaming which was at one time touted as the future of the industry thanks to the rise of Netflix and Amazon Prime having taken the world of visual entertainment by storm.

The survey, which was conducted by Opinium, took in the opinions of over 1,200 consumers across the UK. Respondents were all people who admitted to playing video games at least once every six months. The time British adults spend gaming is also on the rise. The average length of time spent gaming by British enthusiasts currently stands at 1-3 hours a week, however nearly a third (31%) spend over 8 hours every week on the activity at 31%, a drastic rise in comparison to the 25% of five years ago.

Next level

The UK’s video games industry is set to remain Europe’s largest market and the fifth largest globally behind the US, China, Japan and South Korea next year, and is projected to be worth £5.2 billion by 2021. This growth is likely to be driven by a boom in the consumption of Virtual Reality (VR), with the number of headsets in use in Britain set to surpass 16 million in the next 5 years. According to the figures from this latest study, British gamers plan to invest heavily in their gaming hardware over the next two years, with virtual reality headsets and individual consoles, both at 15%, being the most popular areas for spending.

UK based video game companies could boost sales by promoting their ‘Made in Britain’ status. A survey of regular gamers found 15% would choose a British game over one made abroad, if they knew of its provenance, and the continued boom in independent releases has seen consultants also branching out into the industry, as they look to offer design and marketing solutions to the increasingly lucrative digital economy.

According to Sean Duffy, Head of Technology, Media & Telecoms at Barclays, the UK’s £4.3 billion gaming will become an increasingly vital contributor to the British economy in the years to come, especially thanks to the broadening of the medium to incorporate more female gamers.

“While trends in mobile and virtual reality are well publicised, female gamers have been a substantial driver of growth in the industry over recent years, opening up a part of the market that was previously overlooked,” Duffy stated. “Of all of the platforms we surveyed, mobile is forecast to see the most growth over the next 5 years. There is a big opportunity for developers to expand the female market with mobile games targeting women.”

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Women remain underrepresented in UK's hospitality industry leadership

12 April 2019 Consultancy.uk

Female engagement at the top level of the UK hospitality industry is still lagging, with the vast majority of decision-making roles continue to be held by men. Only 7% of the industry’s FTSE 350 CEOs are women; however, the pay gap in hospitality and leisure is far better than in other industries, at a median of approximately 7%.

The hospitality, travel and leisure (HTL) sector is one of the UK’s largest employers, with 3.2 million people working in its segments. Despite a poor 2018 in terms of tightening consumer spending, the industry is still one of the top sectors in terms of economic activity, hitting £130 billion last year – besting the UK’s automotive, pharmaceutical and aeronautical sectors’ combined activities.

While the industry is one of the country’s largest employers, it still faces considerable issues around diversity at the top. New analysis from PwC has explored the matter, as well what initiatives the industry has engaged to open up its top ranks to a more diverse background.

Female representation at board level for UK companies and HTLs

According to a survey of CEOs, Chairs or HR Directors of over 100 of the most significant leisure businesses across the UK, the hospitality industry has a relatively male-dominated top level. This lags behind the FTSE 100, where companies have female board level representation at 32.2%. Meanwhile, the figure for the combined executive committee and direct reports stands at 28%. This is well above FTSE 250 levels, where female board level representation stands at 22.4% and executive committee & direct reports stand at 27.8%.

For the hospitality industry as a whole, board level representation came in at 23.6%, with FTSE 350 for the industry performing slightly better at 25.1%, while non-listed companies performed considerably worse at 18.2%. The firm notes that the figures hide that while some companies are making strides to improve equality, others are not moving forward – with the positive result reflecting more often the good work of some, while others are not taking the issue seriously in their agenda setting.

Blind spot

The study states, however, that while the overall numbers are relatively strong, the industry has a number of acute weaknesses. These include CEO numbers, with only 7% of HTL FTSE 350 companies helmed by women and 11% of non-listed companies led by female CEOs. Meanwhile, female chairs at FTSE 350 companies for the sector stand at zero. In terms of wider diversity representation, only 1 in 33 leaders at industry companies is from a BAME background.

Pay gap for HTL and hospitality

The report noted discrepancies between FTSE 100 companies and FTSE 250 in terms of improving the number of women at executive level. The majority have met the Hampton-Alexander Review target of 33% women at board level, up from around 25% in 2016. However, the remaining ~40% are not on target, and are unlikely to meet the target by 2020. A similar trend is noted when it comes to executive committee and direct reporting numbers.

Jon Terry, Diversity & Inclusion Consulting Leader at PwC, said, "To make real progress in diversity and inclusion, businesses need to elevate it onto the CEO’s agenda and align diversity & inclusion strategy to the fundamentals of the business."

Tracking progress FTSE 250 level

However, one area where hospitality travel and leisure companies are outperforming other companies in the wider UK economy, is the mean and median pay gap between men and women. PwC found that the median of the wider UK economy comes is approximately 14% – with upper quartile companies noted for a gap of low 20%, and lower quartile companies noted for differences of around 2%.

The median pay gap for HTL comes in at well below 7%, with the median close to parity. There are considerable differences, however, with hospitality at 7%, while travel comes in considerably higher, at 22%. The latter figure reflects fewer women in higher paid pilot and technical positions within the industry.