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Thursday, January 24, 2008

Video Game sales up 43% in 2007


I remember when I was in Junior High school how every adult told me that video games was total waste of time and money. Today you can say that is still true to an extent. With the introduction of next generation gaming Video Games has offically gone mainstream.

Sales of video game hardware and software came in at an estimated $17.9 billion, according to data from market research firm NPD Group released Wednesday. that is about 43% more than the previous year. By comparsion the movie industry tallied a record $9.68 billion in ticket sales during 2007, up 4 percent over 2006, according to box-office trackers Media By Numbers.

Gamers also bought 4.6 million Microsoft Xbox 360s and 2.6 million Playstation 3s and 4 million PlayStation 2s from Sony. The PS2 continues to be the most popular game system in the country, with an installed base of 41.1 million. U.S. consumers also own 9.2 million Xbox 360s, 7.4 million Wiis, and 3.3 million PS3s.

Sales of portable game devices also rose 19 percent in 2007 to $1.9 billion, led by Nintendo's DS, which sold 8.5 million units. Sony moved another 3.8 million units of its PSP. U.S. households now own 17.7 million Nintendo DS devices and 10.5 PSPs, according to NPD data.

On the software side, consumer spending for console and portable games came in at $8.64 billion, a 34 percent increase from 2006. The category was driven by console games, which brought in $6.64 billion, 39 percent more than the previous year.

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