Gamers in the US spent less money in Q2 2022 than they did a year ago. The decrease was $1.78 billion.
Gamers in the United States spent less money in Q2 2022 than they did a year before.
According to The Verge, global video game spending fell by $1.78 billion in the second quarter of 2018, with overall expenditure declining to $12.35 billion — a decline of 13% year over year. Microsoft and Sony’s revenue reports revealed a drop in sales; Xbox console sales dropped 11% compared to the previous year.
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According to a Financial Times report, Sony’s game software sales fell 26 percent year over year in Q1 2020 due to the lack of major PlayStation titles released in 2022 and changes in consumer gaming habits, among other factors. According to NPD, subscription content is vital. “was the only segment to post positive gains.”
Meanwhile, Nintendo is expected to reveal its first-quarter earnings this week. However, following a previous prediction that it would sell just 21 million Nintendo Switch consoles during the entire year, the company announced in July that it expects to sell only 21 million units. On the other hand, the Switch sold the most units in Q2; PS5 generated the highest dollar sales.
NPD’s games industry analyst Mat Piscatella concurred, stating that although spending is down and inflation is high, there has been a significant growth period. “consumer spending continues to trend above pre-pandemic levels.”
He added, “However, unpredictable and quickly changing conditions may continue to impact the market in unexpected ways in the coming quarters.”
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