NEWS - Tuesday, March 11, 2003


Video Games are Hot, Hot, Hot!

Record Videogame Sales Seen Roaring Into Overdrive LONDON (Reuters) - Global video game sales are projected to grow nearly 10 percent this year, extending a decade-long surge that has a lot of life left, analysts said in a report on Tuesday. London-based market research firm ScreenDigest and trade association Entertainment and Leisure Software Publishers Association (ELSPA) released their annual forecast, predicting sales in 2003 would hit $18.5 billion, another record. According to the report, the sale of video game and so-called "edutainment/reference" software would grow 9.5 percent in 2003 from $16.9 billion, suggesting that waging a virtual bombing raid or racing a stolen car through city streets now rivals trips to the cinema as a favorite entertainment pastime. Despite the global economic malaise, the popularity of video games continues to soar, a stark contrast to the music industry, which is having increasing difficulties selling compact discs. Major music labels are expected to suffer through a fourth straight year of declining CD sales, blamed in part on rampant piracy. "The market for video games has not peaked yet," said Ben Keen, research director for London-based research firm ScreenDigest. "It will probably peak this year in dollar value terms, reflecting pricing pressures that will kick in in the future. But in volume terms, it will continue to grow," he said. In Europe, sales of video games and entertainment software are expected to top $6.3 billion this year, exceeding the $2.7 billion video game and DVD rental market, according to ScreenDigest. The study also forecasts that 32 million new video game consoles will be sold in 2003. Last year, 30 million Sony PlayStation 2, Microsoft Xbox and Nintendo GameCubes were sold worldwide, the study said. Since 1995, when the top-selling Sony PlayStation first hit the market, nearly three billion video game and leisure software units have been sold globally.
Source: http://www.reuters.com/

Comments

Site Statistics

Registered Members: 49,148
Forum Posts: 725,920
Xbox One Titles: 2,912
Xbox 360 Titles: 1,086
Xbox 360 Kinect Titles: 95
Xbox 360 Arcade Titles: 586
Original Xbox Titles: 987
Staff Reviews: 2,045
Member Reviews: 10,339
News Articles: 15,652
Screenshots: 34,240
Xbox 360 Achievements: 45,112
Xbox 360 Faceplates: 2,016
Cheat Codes: 1,706

Latest News








See News Archives

Community Forum Activity

Watch Dogs: Legion
Post by Nato King
0 Replies, 2565 Views

Xbox Series X or S
Post by Nato King
4 Replies, 2919 Views

Spellbreak Grand Magus Pack (3) and Starter Pack (7) Giveaway!
Post by Variation-XBA
0 Replies, 2936 Views

I pay $ 1000! I search the Element 54 Canadian launch Team signaturen Faceplate
Post by Smill
0 Replies, 6845 Views

Xbox one no signal
Post by debrartin
0 Replies, 28269 Views

do you remember?
Post by SnoochyBoochy
3 Replies, 28684 Views

i haz xbox
Post by SnoochyBoochy
0 Replies, 24678 Views

Claiming the first thread of 2020
Post by Kraft
7 Replies, 42757 Views

Important! I pay $ 1000! I search the Sweden launch and the Element 54 Faceplate
Post by Smill
3 Replies, 23788 Views

Squad Up
Post by samslophead
0 Replies, 51170 Views

TERA Skinned Xbox One X Giveaway!
Post by Variation-XBA
0 Replies, 53455 Views

Starfield Release expectations?
Post by DJ tx
4 Replies, 89350 Views

Issue with Xbox live on Xbox home
Post by rcmpayne
0 Replies, 61619 Views

Happy Birthday, Me.
Post by SnoochyBoochy
4 Replies, 75688 Views

Xbox Playdates Canada October, 2018 Play date info thread.
Post by Kiesey
2 Replies, 19417 Views

© 2000-2020 XboxAddict.com - All rights reserved. All trademarks are properties of their respective owners.
Xbox is a registered trademark of Microsoft. XboxAddict.com is not affiliated with Microsoft.

Made in Canada
Site Design by Cameron Graphics