After quarantine, people have less time to play.
In these times of economic instability, people save more than just buying physical goods like electronics. According to the latest statistics, video game sales are also declining, falling by almost $2 billion annually. The boom period of video games during the pandemic is behind us.
Research firm NPD writes that U.S. spending on video games, including content, hardware products, and accessories, was $12.35 billion in the 2nd quarter. That’s a lot, but $1.78 billion or 13% less than the same segment last year.
If we analyze individual segments, content spending amounted to $10.97 billion, 13% less than last year’s result. Hardware and accessories lost 1% and 11%, respectively, but mobile content was the worst performer.
But 15% increased the cost of non-mobile subscriptions. This is good news for Microsoft Xbox/PC Game Pass users. Sony PlayStation Plus Extra and Premium tariffs were introduced at the end of the quarter, so their contribution to the statistics is minimal.
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So far, consumers continue to spend more on video games than before the pandemic. However, the abandonment of quarantines and the rising cost of living are forcing us to cut costs.
The top-selling game for the quarter was LEGO Star Wars: The Skywalker Saga. Regarding hardware products, the Nintendo Switch console leads in quantity, as in almost every previous quarter since its introduction in March 2017. Regarding sales revenue, the PlayStation 5 console is the leader, writes Techspot.