You hear it everywhere: economic busts and
bailouts. While you might think that the financial news for 2012 is
again bleak, the gaming industry may well be one very bright exception
to the worldwide budget blues.
The gaming sector continues to enjoy stellar retail growth with consumer
demand remaining high.
As reported in the Financial Times, the video game industry is bucking
the retail recession as consumers turn to fitness workouts and fantasy
worlds to take their minds off the credit crunch.
In fact, according to Chris Nuttall in San Francisco, Microsoft reported
its biggest sales month in Europe for the Xbox 360 console; sales were
up 124% year on year. More, Microsoft announced its best "Black Friday"
the big shopping day following Thanksgiving, with sales up 25% on a year
ago.
"The credit crunch is a fact for folks in the US and Europe, so people
are being much more cautions," said Aaron Greenberg, head of product
management in Microsoft's Interactive Entertainment business.
"In tough economic times, consumers are more cautious they seek
something that is on-trend something that satisfies their need for
fantasy and fitness, plus they search for value, even harder," said
Peter Lander, founder of Battlefield LIVE, a gaming company.
"They
compare live gaming with the traditional theme park or even go-karts and
they discover, dollar for dollar, per minute of entertainment
Battlefield LIVE far out-stripes the competitors. The reason why we can
offer this value-for-money service is because our operation can scale to
hundreds of gamers playing simultaneously," Mr Lander said.
Microsoft's two top selling Xbox games in November were Gears of War 2,
with 1.56 million units sold and Call of Duty: World at War, with 1.41
million games rung through the cash register.
So if you want to defy the retail gloom, consider fitness and fantasy
while still being frugal - try a video game, or if you are feeling a
little bit more adventurous try a live gaming experience to drive your
entertainment dollar further.
PriceWaterhouseCoopers predicts that
global video game sales will expand to $56 billion this year, more
than double the $23 billion sold in 2003.
Peter Winkler, managing director of global marketing for PricewaterhouseCoopers' Entertainment and Media Practice, predicted the
market would grow by 20 percent annually.
No other industry his unit analyzed even reached double
figures. The film industry is expected to grow at 7.5% a year,
television distribution (satellite and cable companies) at 7.1% and music at just 2%, Winkler said.
"In the past, the video game market was perceived as a
less traditional industry, filled with creative types and mavericks,"
Winkler said. "But in the last five to 10 years, there has been a real
surge. It is now more mature and resembles the film industry, with big
revenues, hit titles and production costs. Large entertainment and media
companies can't afford to ignore it."
In fact, Seth Schiesel, of the
New York Times, says nine of the 10 top-selling games
include a significant multiplayer component. "If new
acceptance by the masses is one pillar of gaming's future, gaming's
emergence as a social phenomenon is the other," he said.
Consider the massive online gaming
phenomenon, World of Warcraft, which now has more than 11 million
members. Why? Because it is social. And likewise Battlefield LIVE
captures the social aspects of gaming.
Check out an example this new combat sim at
www.battlefieldlive.com
where you can live out your first person shooter fantasies for real.
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