Jul 03

Video Games Survive the Impact of Recession

Despite the plummeting price of real estate and the skyrocketing cost of gasoline, video game sales seem to be surviving the slump. Even while everyone is trying to make ends meet, it seems that everyone still feels the need to play video games to relax and enjoy life. Why not? If we are going down the drain, why not do it while having fun? Besides, I believe we are able to find solutions to our problems when we are not too uptight about them. Creativity is spurred better when we’re not stressed.

The new forecast by DFC Intelligence expects the video game industry to earn worldwide revenues of more than $57 billion next year. That includes hardware and software sales in 25 countries, 11 of which see annual revenue from games exceeding $1 billion. According to them , consumers are spending on software at record levels. They even claim that the business is benefiting from the recession since video games are a cheaper form of entertainment.

On the side, the Wii still remains the bestseller among the game consoles, outselling the Xbox 360 and the PS3. However, they predict that the PS3 will overtake the Wii soon. Nevertheless, the PC is still the top platform for games overall in 2007. Online game revenues alone have reached $7 billion, excluding retail sales. Even with attempts by Sony and Microsoft to penetrate the online gaming market, online games via the PC still rules in this field.

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