Thursday, December 10, 2009
Video Games Sales Slumping
Posted by Chris O'Sullivan
The video game industry is apparently not immune to our current recession, as evidenced by declining sales over the past nine months. During the crucial holiday month of November sales were no different. According to industry analyst The NPD Group, sales across the entire video game business were $2.7 billion, down 7.6 percent from $2.92 billion a year earlier.
These figures are slightly misleading however because 2008 was the best year ever for video game sales. This means that game producers are still making a great deal of money although it may be less than what was earned last year. Sony has recently dropped the price tag on its premier console Playstation 3, but the system continues to lag in sales behind the Nintendo Wii and Xbox 360.
"Nintendo products top Amazon.com's most wished for and most gifted lists for video games, and Wii remains at or near the top of the most-searched for video game terms on Yahoo," Nintendo said in a statement. "As families and friends gather for the holidays, Nintendo games offer the best shared experiences." The top selling game was Modern Warfare for Xbox, which broke the single-day record for sales for any entertainment product when it launched November 10.