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Industry Sales Growth Projected For Holiday Season
The video game industry is often compared to the film industry as a form of entertainment that traditionally performs well even in tough economic times. However, the difference between an interactive experience and a cinematic one is the admission price. A next-generation video game will run a consumer anywhere from $50 to $60. With the holiday gaming season approaching, publishers and retailers are concerned the current economic recession will hurt holiday performance.
Fear not, according to a September retail sales preview by Electronic Entertainment Design and Research, analyst Jesse Divinch projects software sales will increase and growth will continue through the holidays.
“Overall, September sales and retail data indicate that the pre-holiday season is off to a good start,” Divinch commented on the report.
According to the preview, weekly retail price cuts for titles released in the last 90 days have significantly declined suggesting retail sales are much healthier than in previous months. The EEDAR expects software sales for September to come in at a 16 percent increase over last year at $715 million. The firm also projects that double-digit growth isn’t likely to continue, but growth is still expected by a high single-digit margin in October, with low double-digit and single digit growth to follow in November and December. For the first half of 2010, EEDAR projects a 13 percent increase in software sales.
In terms of hardware, the PlayStation 3 is expected to be the top home console for September for the first time since its 2006 release. With its recent price drop and highly anticipated exclusives including Uncharted 2: Among Thieves we wonder if the PS3 will continue to take the top spot in hardware sales through the holidays.
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