2007 saw a huge leap in video games sales over the previous year, with software sales alone jumping 34% to $US 8.64 billion, and Lazard Capital Markets analyst Colin Sebastian sees no signs of the growth trend stopping. Despite the U.S. economy being on the brink of (or waist-deep in, depending on who you ask) a recession, Sebastian predicts that the software market will see sales topping $US 10 billion by the end of this year.
"We note that over the 1990-91 and 2001-02 recessionary periods, new consoles launched successfully and became significant drivers of growth for several years. As such, we believe it is unlikely that decreasing consumer confidence and economic growth would meaningfully impact video game sales in 2008."
In other words, gamers give a damn about what the economists say. Recession, reshmession - we need our games.
Analyst: US Game Sales to Top $10 Billion in 2008 [Next Generation]