Even though
the global economy is facing a major crisis that has severely affected many an
industry in terms of sales, it seems the gaming business has managed to steer
clear of serious trouble. Moreover, the industry is currently thriving, as
October sales showed, despite bleak forecasts for the future of economy.
Last month,
market research company NPD Group reported that sales for the video game
industry had increased by 18 percent from October 2007, to $1.31 billion (from
$1.12 billion), while software sales had gone up by 35 percent, from $514.5 million
in 2007 to $696.8 million this year. As for hardware sales, the increase
registered was by 5 percent, from a 2007 $470.5 million to $494.8 million.
In addition, NPD also revealed that on November 13, when Blizzard
Entertainment rolled out the second expansion pack called Wrath of the Lich
King for their massively multiplayer online role-playing game (MMORPG) World of
Warcraft, the game broke the all-time record in terms of one day sales for a
computer game, selling 2.8 million units.
Last year, when Blizzard released the first expansion pack
for WoW entitled The Burning Crusade, the game sold 2.4 million units within
its first day on the market, having then set the record Wrath of the Lich king
broke this month.
A survey conducted
recently by the National Research Center showed that 46 percent of
consumers planned to buy a video game system on the Friday after Thanksgiving,
usually called Black Friday, which officially opens the traditional Christmas
shopping season.
Furthermore, the aforementioned NPD Group also conducted a
survey that found video games were among the last things people would cut back
on in the future.
The main
reason for these unhindered by the economic crisis video game industry sales is
that during hard times, people often turn to entertainment in search of
comforting and something to put their mind off the hardships of life. In
addition, according to Ron Meiners, director of community for the
Hollywood Interactive Group, the fact that video games now allow a higher level
of human interactivity, has also played a major role in enticing them to
purchase such products.
Nevertheless, game publishers have revealed that their stock
prices had decreased due to the global crisis and despite through the roof
sales in recent months.
While the stock market crashed, with Dow’s value going down
by 28.16 percent from September 2 until November 17, and Nasdaq’s one decreased
by 36.91 percent within that same time-frame, gaming companies such as Electronic
Arts, Activision Blizzard, Take Two, THQ, Gamestop and Nintendo had their share
prices drop by an average of 52.53 percent.
