Spending on games
Ladies and gentlemen, NPD research firm has shared an astounding report on the US consumer spending on games in Q3 of 2020. The report suggests that the consumers spent a colossal $11.2 billion between July and September which shows an increase of 24% when compared to last year’s Q3. NPD is expecting this upward trend and is positive that Q4 will also shatter previous records like Q3.
The quarterly market dynamics showed that Americans spending grew on everything from new hardware to physical games. One of the most important surges were seen in the mobile and subscription spending, full-game downloads, and accessories. Hardware and accessories experienced double-digit percentage gains, increasing 16% and 35%, respectively.
The report said, “We continue to see more video game players, playing for more hours, across more devices,” said NPD Group analyst Mat Piscatella. “We can anticipate another record-breaking quarter in Q4, in large part due to PlayStation 5 and Xbox Series consoles entering the market with one of the fastest-selling consoles in U.S. history, the Nintendo Switch.”
If we do not mention Q3 titles that caused record-breaking spending, we won’t be doing any justice here. Game titles like Animal Crossing: New Horizons, COD: Modern Warfare, Among Us, Ghost of Tsushima, Fortnite, NBA 2K21, Madden NFL 21, Paper Mario: The Origami King, Super Mario 3D All-Stars, Marvel’s Avengers, and Tony Hawk’s Pro Skater 1 + 2 were among the best selling titles of Q3.
In the last quarter of this year, the spending on games will surely increase thanks to the holiday season which is right around the corner. Consumers will gear up and will be fully prepared to make their holidays worth the while with their friends and families.
Reinout is a games investor and strategic business consultant specializing in the games industry. Reinout established his credentials through his own successful investments, start-ups, consulting and (advisory) board positions that led through time to strong bonds with key stakeholders in this fast paced industry. He is known for his outstanding results in the gaming industry. He has worked with many game studios around the globe and is therefore well known in the international gaming industry. This game podcasts is for the gaming industry.
With over 20+ years of experience, well known publishers, AAA+ game developers, serial gaming entrepreneurs and management teams of gaming corporations consult him on matters that behold financial, technical, operational, strategic and commercial.