Analysts Foresee Another Banner Year For Videogame Industry

Analysts observing the videogame industry forsee 2008 being another blockbuster year in sales. Sales during the month of February were considerably up, according to the NPD group. Early in the year is historically a very slow time in the game sales calendar, making the 34% jump for the month highly significant. Grand Theft Auto IV is likely to be an engine for sales throughout the year: "The game, which will be available on the Xbox 360 and Sony Corp.'s PlayStation 3, is expected to boost sales of both consoles. Pre-orders have been better than expected, according to its publisher, Take-Two Interactive Software Inc. Michael Pachter, an analyst with Wedbush Morgan, expects the game to sell about 9 million units during the company's fiscal year, which ends in October. Roughly 6 million of this, he added, will be to Xbox 360 owners."

Comments

Could be

[7Prime]

Could be... or it could mean the 360 is just hacking into Sony's former mindshare. I think it's probably a combination of both, actually. The continued success of the Wii is probably the #1 indication that HDTV adoption (or should I say, SDTV abandonment) isn't going as planned.

Economic Conditions

[NuclearError]

It's interesting how high sales are despite a stalled economy. Maybe it's cheaper to sit at home and play video games instead of going out, given the price of gas.