The video game industry is also suffering from the stumbling economy. Customers could spend up to 10 percent less on games in the USA this year.
Things aren’t looking good in the video game industry right now. Numerous layoffs and studio closures in recent months are just an indication of this. However, a new study by Circana also shows that the video game community doesn’t seem to be doing so well financially or that the money is preferred to be spent elsewhere.
In any case, by 2024, the study suggests that around 10 percent less money could flow into buying games in the US market.
Analyst Mat Piscatella explained that even his most optimistic forecast represents a 2 percent decline. If you approach the matter more pessimistically, there is up to 10 percent. If things get tough, even the 10 percent could be set too low.
Piscatella sees the reason for the low spending on video games in the great uncertainty. Sales figures and outlooks are always accompanied by great uncertainty, but the uncertainties regarding hardware and game content are also partly responsible. People would wonder who made the games.
According to Piscatella, the two most successful games of the year so far are Helldivers 2 and Palworld. These compete with Hogwarts Legacy. Nevertheless, one looks rather sadly into the future. The new Nintendo console will probably not arrive until next year, as will game hits like Grand Theft Auto VI.
The reasons for the impending poor sales are varied, but they are obvious. Whether the industry and the community can look to 2025 with more optimism remains to be seen. But there is at least a little hope.
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