UBISOFT's boss has said the gaming industry is on the cusp of a streaming revolution comparable to Netflix's transformation of TV and cinema.

"We strongly believe in the next five to 10 years, many games will be streamed and will also be produced in the cloud," Yves Guillemot told the Financial Times.

Cloud gaming removes the need for expensive hardware as the game processing is done via a super computer elsewhere.

Guillemot said when Netflix announced it was going into streaming its shares "fell a lot" before the company morphed into an entertainment powerhouse.

"It's going to be the same with video games, but it will take time. But when it takes off, it will happen very quickly," he said.

Britain's competition regulator has said the UK market for cloud gaming services could be worth over £1bn by 2026 - a similar size to the UK's revenue from recorded music in 2021.

Ubisoft, which produces games like Assassins Creed, recently inked a cloud-gaming pact with Microsoft, securing streaming rights to Activision Blizzard's extensive game catalogue as the tech giant vies for regulatory approval for its takeover of Activision.

(c) 2023 City A.M., source Newspaper