The current generation of consoles got off to a slow start and its progress continues with that speed. The pandemic and its consequences had a significant impact and although during the crisis period there was an increase due to the confinement that led millions to opt for gaming, now there is an expected decrease but that was also a consequence of the lack of important launches last year.
The console market went down in 2022 due to the lack of important video games
The annual report on the state of the video game industry in 2022 was published by the analysis firm NewZoo (via Gamesindustry.biz) and it confirms that the console sector was down last year. According to the information, the gaming industry in terms of PCs and consoles experienced a 2.2% drop in user spending on video games, which translates to $92.3 billion.
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The United States and China are the markets with the highest revenue for console and PC games
Regarding what happened specifically in the console sector, video game sales fell 4.2%, generating $51 million, a downward performance that is attributed to delays and a shortage of important releases during the past year. It is well known that the lack of AAA video games impacted the different brands: Xbox Series X | S collapsed in the second half of 2022, PS5 is still in the shadow of the PS4 numbers and Switch is dealing with the downward curve in its sixth year on the market.
On the other hand, the report highlights that when considering video game revenues on consoles and PCs, the United States and China represent almost 50% of the global market.
Finally, and perhaps somewhat hopelessly, NewZoo pointed to a nascent industry trend of converting storied and well-known franchises into games-as-a-service. An example of the above may be the near future of The Last of Us, PlayStation IP and Naughty Dog known for its narrative and single player proposal that will now seek luck with online multiplayer.
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