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: 44,481
Forum Posts: 725,737
Xbox One Titles: 1,133
Xbox 360 Titles: 1,085
Xbox 360 Kinect Titles: 95
Xbox 360 Arcade Titles: 585
Original Xbox Titles: 987
Staff Reviews: 1,664
Member Reviews: 10,339
News Articles: 14,228
Screenshots: 30,900
Xbox 360 Achievements: 45,112
Xbox 360 Faceplates: 2,016
Cheat Codes: 1,706

Latest News








See News Archives

Community Forum Activity

Any info on Biomutant release?
Post by DJ tx
0 Replies, 56 Views

Xbox Playdates Canada - February Playdates Schedule
Post by Kiesey
4 Replies, 340 Views

Xbox Prototype Communicator
Post by oryanphine
1 Replies, 444 Views

Xbox One S Dragon Ball Fighterz
Post by oryanphine
0 Replies, 418 Views

Xbox One S Theme Hockey
Post by oryanphine
0 Replies, 276 Views

New Fable is coming!
Post by Shadow20002
2 Replies, 530 Views

RPG Recommendation?
Post by DJ tx
8 Replies, 628 Views

Xbox Playdates Canada - January 2018 Schedule
Post by Kiesey
5 Replies, 721 Views

Xbox 360 Summer Intern Celebration 2011
Post by oryanphine
1 Replies, 738 Views

Xbox One X LA noire
Post by oryanphine
1 Replies, 1341 Views

Xbox One Assassins Creed Origins
Post by oryanphine
2 Replies, 1113 Views

Xbox One S Porsche 919 Hybrid Edition
Post by oryanphine
4 Replies, 1462 Views

OG Xbox on Xbox One now live!
Post by Kamshaft
5 Replies, 1635 Views

Xbox One S Renault F1
Post by oryanphine
2 Replies, 1142 Views

Xbox One S Wolfenstein 2 The New Colossus
Post by oryanphine
1 Replies, 1072 Views

© 2000-2018 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