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

NDOY

[AKAImBatman]

resulting in a $48.9 billion global video game market in 2011, up from $37.5 billion this year.

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...

Good thing...

[stmfreak]

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?