U.S. video game spending hit $56.6B in 2022, down 5% | ESA

Overall total consumer spending on video games in the United States totaled $56.6 billion in 2022, down 5%, according to the Entertainment Software Association and the NPD Group.

The groups said that video game sales stabilized following back-to-back record years in 2020 and 2021. The $56.6 billion figure includes revenues from all content categories (including full-game, post-launch and subscription spending across console, cloud, mobile, portable, PC and VR platforms), hardware and accessories.

“This latest report underscores the video game industry’s leadership as a driving force in the U.S. economy, as well as for innovative and creative entertainment,” said ESA CEO Stanley Pierre-Louis, in a statement. “These numbers also reinforce the widespread role video games play in bringing joy and connection to American households.”

Overall video game sales saw a decrease of 5%, even with console sales reaching $6.57 billion in 2022, an 8% year-over-year increase, with more than $1.5 billion spent on consoles in December 2022 alone.

Content spending generated $47.5 billion and accessory sales reached $2.5 billion, a 7% and 8% decrease respectively from 2021. The 2022 data demonstrate the ongoing economic impact of the video game industry in the U.S., even as numbers stabilize post-COVID – in 2019, overall video game sales ended at $43.5 billion, with content at $37 billion, consoles at $3.9 billion, and accessories at $2.2 billion.

“U.S. consumer spending on video game content, hardware and accessories totaled $7.6 billion in December 2022 – an increase of 2% when compared to a year ago – bringing full year 2022 spending to $56.6 billion. Factors impacting 2022 spending included continued supply constraints of console hardware, a relatively light slate of new premium releases and macroeconomic conditions,” said Mat Piscatella, video game industry advisor, The NDP Group, in a statement. “With a highly anticipated slate of new games and the reduction or even elimination of console hardware supply constraints, 2023 could very well see the market return to growth.”

“The holiday season saw an expected uptick in spend across genres with the biggest month-over-month gains in December from Geolocation (Pokémon Go) up 17%, Simulation (Roblox) up 15%, Action (Genshin Impact) up 15% and Shooters (Call of Duty Mobile) up 14%,” said Dennis Yeh, gaming insights, Sensor Tower, Inc. “These genres are relatively top-heavy with games that could benefit from gift card usage and holiday-based live ops or events.”

The top PC/console games in order included Call of Duty: Modern Warfare II, Elden Ring, Madden NFL 23, God of War: Ragnarök, Lego Star Wars: The Skywalker Saga, Pokémon: Scarlet/Violet, FIFA 23, Pokémon Legends: Arceus, Horizon II: Forbidden West, and MLB: The Show 22.

Originally appeared on: TheSpuzz