Video game spending reaches record high during pandemic

Bottom line: The NPD Group said gains were noted across virtually all categories including digital PC and console games as well as mobile downloads, subscription spending, hardware and accessories.

US consumer spending on video games reached an all-time high in the first quarter as gamers looked to quell boredom while ordered to stay at home to slow the spread of Covid-19.

For the three-month period ending March 31, the US video game industry generated $10.86 billion in total revenue. That’s an increase of nine percent compared to the same period a year ago according to The NPD Group’s Q1 2020 Games Market Dynamics report.

Video game content (software) accounted for $9.58 billion of the total, an 11 percent increase year-over-year.

Doom Eternal, Call of Duty: Modern Warfare, Minecraft and Animal Crossing: New Horizons were among the best-selling titles during the quarter, we’re told.

On the hardware side, console makers raked in $733 million, led by strong sales of Nintendo’s Switch which continues to be next to impossible to find at retail.

Nintendo is well aware of the shortages, recently vowing to boost production by 10 percent to help deal with demand. Even still, with lockdown orders continuing to impact manufacturing in key regions, inventory could remain tight for a bit longer. This has prompted some to come up with clever solutions to get their hands on a system.

Accessory sales, meanwhile, increased one percent in the quarter to $503 million.

Masthead credit: korobskyph, Pe3k

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

For a Hedge Against Inflation - Click the Rocket!

E-Crypto News Executive Interviews

Blockchain/Cryptocurrency Questions and Answers

Stressed about crypto
The Worst Places in the World to Buy and Hold Crypto
January 27, 2023
What Are Crypto Index Funds?
What Are Crypto Index Funds?
January 19, 2023
Can You Make Money Anymore With Crypto in 2023?
January 13, 2023
What Is Stagflation And How Does It Affect The Crypto Markets?
What Is Stagflation And How Does It Affect The Crypto Markets?
January 12, 2023
passive crypto
How To Minimize Risks When Investing in Crypto
December 28, 2022

Automated trading with HaasBot Crypto Trading Bots

CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin23,091 0.84 % 0.06 % 0.46 %
Ethereum1,588.7 0.91 % 0.53 % 2.71 %
Tether0.9973 0.34 % 0.32 % 0.48 %
USD Coin1.000 0.44 % 0.25 % 0.18 %
BNB283.64 0.09 % 0.32 % 2.79 %
XRP0.4687 0.46 % 4.02 % 4.38 %
Binance USD1.000 0.15 % 0.14 % 0.18 %
Cardano0.3791 1.21 % 0.65 % 0.71 %
Dogecoin0.09344 1.21 % 8.02 % 5.09 %
Polygon1.110 1.63 % 0.48 % 10.89 %

Bitcoin (BTC) $ 22,924.14
Ethereum (ETH) $ 1,576.65
Tether (USDT) $ 1.00
USD Coin (USDC) $ 1.00
BNB (BNB) $ 311.00
XRP (XRP) $ 0.402928
Binance USD (BUSD) $ 1.00
Cardano (ADA) $ 0.376564
Dogecoin (DOGE) $ 0.09273
Polygon (MATIC) $ 1.09