Video game sales sky rocket to over $3.6 billion in July alone
The amount of people who play video games has seen an increase over the past decade, but even more so since the pandemic started.
Over the years, the video game industry has grown to become more popular and financially lucrative. From console to mobile gaming, people are playing video games now more than ever, and even more since the pandemic has spread throughout the world.
Even before the whole Covid-19 pandemic started, video games were rising quickly. With the increase in technology, growth in esports and just overall video games as a passionate hobby, it was only a matter before sales started to reflect this growth.
In July, it was announced that video game sales had topped $3.6 billion. This number takes into account three different categories: video game hardware, software and accessories. That basically means that any purchase that is video game-related is counted towards the video game sales total.
On an even crazier note, in the first seven months of 2020, there has been a total of $26 billion in video game sales. That is an average of $3.7 billion dollars a month, which is more than what was made in July alone.
A major part of what drives video game sales in a particular month is, of course, what’s being released. If a new console, a highly anticipated game, or new DLC is released, then that is obviously going to play a major factor in how much money is being spent. The sales for July 2020 is actually up 32 percent year over year.
However, if you break down the $3.6 billion dollars as a whole then you can see that $3.3 billion dollars were due to video games, downloadable content, and subscriptions. $170 million dollars of the $3.6 billion dollars was attributed to accessories (controllers, headsets, etc.), which ended up setting a new monthly record for accessories purchases. The remaining $166 million dollars was any video game hardware.
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With some pretty big video games to be released this month — Fall Guys, Hyper Scape, EA Sports UFC 4 and Madden NFL 21, to name a few — it will be interesting to see how August compares to July, which is typically a slow month for video games.
It will also be quite interesting to see what the monthly sale totals will be once the next generation of consoles arrive this holiday season. The Xbox Series X is due out this November, while Sony hasn’t yet announced what month the PlayStation 5 will launch. Unfortunately, the excitement of Microsoft’s next-gen launch was tempered a bit by the delay of Halo Infinite to 2021.