The video game industry saw dollar sales in the U.S. of $US 17.94 billion last year, an impressive increase of 43% over the previous year, when it sold $US 12.53 billion worth of video games, consoles, portables and accessories. Sales were up across the board, with the biggest boosts coming from console hardware sales ($US 5.12 billion in business, up 73%) and accessories ($US 2.26 billion in business, up 59%). December alone saw $US 4.82 billion worth of video game goods sold, with over $US 2 billion worth of video games sold bolstering those figures.
More expensive hardware on the market for the full year certainly contributed to those impressive console hardware sales, but the 8.5 million Nintendo DS portables sold in 2007 had a lot to do with that, too. Look, everyone just made tons of cash, okay?
For a full breakdown of annual spending, plus comments from NPD analyst Anita Frazier, continue.
Video Games - $US 17.94 billion (+43%)
Video Games Hardware - $US 7.04 billion (+54%)
Console Hardware - $US 5.12 billion (+73%)
Portable Hardware - $US 1.92 billion (+19%)
Video Games Software - $US 8.64 billion (+34%)
Console Software - $US 6.64 billion (+39%)
Portable Software - $US 2 billion (+18%)
Video Game Accessories - $US 2.26 billion (+52%)
NPD Analyst Anita Frazier said of the year "While I wouldn't count on similar growth in 2008, I would expect to see 2008 increase over 2007, with more growth (proportionately) coming from software sales. While we will continue to see strong hardware sales, particularly if prices come down again, the spotlight now turns from hardware to software."
Regardless of what happens in 2008, I bet some video game executives are going to spring for appetisers at TGI Fridays this year. Go on, millionaires, live a little!