Videogame Spending May Soon Outweigh Music Spending Globally
Ars Technica reports that, for the first time, spending on videogames is in a position to overtake spending on music worldwide. An analyst report from PricewaterhouseCoopers discussing growth in media shows this being the first year that's a possibility. "The information not only reflects the gaming industry's strong trajectory but also serves as a painful reminder that the music industry continues to suffer. ... The rising penetration of broadband combined with consoles with online capabilities, wireless phones capable of downloading games, and technologically advanced consoles are credited with driving the video game industry's strong growth. PwC says that the gaming industry will see a compound annual growth rate of 9.1 percent between 2007 and 2011, resulting in a $48.9 billion global video game market in 2011, up from $37.5 billion this year."
I'm surprised it took this long.
If you can read this, I forgot to post anonymously.
...when the quality of videogames keeps going up and the quality of the crap the major music labels tries to cram down your throat keeps going down (as if that was even possible). Besides, buying 1 full price game is equivelant to buying 4 new cds. And as big of a music geek as I am, getting a new videogame is a lot more exciting than getting a new cd. Especially for the masses who can turn on the radio and hear music for free.
Wise men say, "Forgiveness is divine, but never pay full price for late pizza."
So basically music and games are different media. Why the comparison?
Danm you microtransactions!
So this means the mainstream media and academia will accept video games as a legitimate artistic medium in 3..2...
Apology to Ubuntu forum.
Nintendo has a market cap of 6.4 trillion yen (51.7 billion dollars) up from 2.7 trillion yen (21.8 billion dollars) this time last year. According to their last financial report, their net sales for last year were 966 billion yen (7.8 billion dollars) up 89% from the previous year's 509 billion yen (4.1 billion dollars) in net sales.
I think I know where your massive industry growth is sitting...
Javascript + Nintendo DSi = DSiCade
Great, here comes the VIAA. Bend over at the hips, please.
digitalhallucination... now phosphate free!!
I wonder if the difficulty in copying and sharing videogames is a factor.
Good thing nobody pirates video games or those guys would be going out of business too!
Or is this just another case of the data fitting the conclusion in some cases and being suspiciously absent in all other conversation?
These opinions guaranteed or your money back.
Which costs the music industry $1 Billion per year per person!!! . Once the RIAA can make everyone pay, the music industry will not only exceed the games industry, but the total world economy by several orders of magnitude. It will only be exceeded by the Movie industry which currently loses $2 Billion per year per person!!! due to piracy.
The information not only reflects the gaming industry's strong trajectory but also serves as a painful reminder that video games cost ten to twenty dollars more than they did just one generation ago.
Okay, so that's not the whole story, and they're not all more expensive, but seriously! Games have gone up in price, and while they have gone up in resolution, they haven't gone up in fun.
This is not an endorsement of any one console, and for all I know some consoles' average game price is lower than others, and I would expect that to be the case. I've only noticed that far more games seem to be coming at a $60 price point now, when $50 was more or less the top of the scale for games that didn't come with their own controller in the previous generation.
Obviously the growth of the casual gaming market is a bigger deal.
"You're right," Fisheye says. "I should have set it on 'whip' or 'chop.'"
The article doesn't specify, but I have to ask, are they talking about game sales plus console sales? How about peripherals? Many new systems were purchased in the past year, with the release of three new major platforms. Should music sales be taking into account iPod and CD player sales?
So an $18 CD vs. a $50 - $60 pop for video games.
"The problem with socialism is eventually you run out of other people's money" - Thatcher.
They raise the price on games. They raise the price on game systems. People buy the same amount of crap for more money.
And we're surprised that the market has produced higher spending numbers?
I do truly think this is sad news. The same old fantasy/war adventures set in canned worlds are not as liberating for the human soul as unique music is, whether it be Beethoven, Public Enemy, or Bjork. Well done music is a window into a unique world view, what do I know about the creators of WOW or Doom 4 after playing? Answer is nothing. And no this isn't a Luddite rant I think the internet has brought many positive advancements to humanity, I really like my 20 inch widescreen lcd, ipod, digital camera, advancements in medicine, etc. Video games on the whole however do not IMO help advance humanity. Note that I don't think they should be banned or regulated just ignored like the overly hyped iPhone ought to be ignored.
:) Yep old fart over 40 here, deal.
Feel free to flame away BTW my karma can take a few hits now and then and survive quite nicely.
Tired of all the isms, don't exploit people as an employer, or a government, mmmmK?