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."

Comments

Re:Let me just fix the article

[Stormwatch]

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.

But there was a time when games cost even more. Chrono Trigger and Final Fantasy III (VI) cost around U$80. Virtua Racing cost $100 (it had a built-in co-processor). I'm not sure about Phantasy Star IV, but it was also something close to that.