Consumers spend $10.8 billion on video games in US in Q1
Published on: 2020-05-17 09:25:51 | Category: Gaming | By: admin
Consumers spent a record time buying video games in the US quarter of January-March as shelter-in-place due to COVID-19 pandemic coming into effect. The gross spending on video games in the first quarter reached a record $10.86 billion, a recent study has revealed.
According to market research firm The NPD Company, the first quarter saw record revenues led by digital entertainment spending across console, tablet, and Computer gaming platforms.
Nintendo Transfer products had a very strong quarter of sales, helping to drive hardware revenue to $773 million a year earlier by 2 per cent.
Overall customer spending on video games across the industry rose by 9 percent compared to last year's same timeframe.
In the first quarter, video game software revenue hit $9.58 billion , up 11 per cent from a year earlier.
"Gains were seen across digital console and Computer content, smartphone and subscription expenses, as well as across categories of hardware and accessories," the report states.
Games like Animal Crossing: New Horizons, Call of Duty: Modern Warfare, DOOM Eternal, Dragon Ball Z: Kakarot, Fortnite, Grand Theft Auto V, Minecraft, MLB The Show 20 and NBA 2K20 were among the best-performing first-quarter titles.
"During this challenging time, video games brought comfort and connection to millions," said Mat Piscatella, games industry analyst at The NPD Group.
"As people stayed more at home, they used gaming not only as a distraction and escape, but also as a way to remain connected with family and friends. Whether on console or tablet, Desktop or virtual reality, gaming experienced play and sales growth in the first quarter," added Piscatella.