Game Sales to Top $10 Billion in 2008?Posted 12:03pm Wed Jan 23, 2008 by Tim Grube
Tags: PlayStation 3, Xbox 360, PSP, Wii, PC
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A softening consumer spending environment won't stop annual US software sales exceeding $10 billion for the first time in 2008, says Colin Sebastian of Lazard Capital Markets.
According to Sebastian, historically, videogame industry sales are
driven by product cycles rather than by consumer spending and GDP
growth.
"We note that over the 1990-91 and 2001-02 recessionary periods, new consoles launched successfully and became significant drivers of growth for several years. As such, we believe it is unlikely that decreasing consumer confidence and economic growth would meaningfully impact video game sales in 2008."
With many titles coming out from various companies such as Blizzard's new World of Warcraft expansion, Electronic Art's Army of Two, and Konami's Metal Gear Solid 4--you kind of have to believe that 2008 will be a big year for everyone involved in the video game industry. Do you agree?"We note that over the 1990-91 and 2001-02 recessionary periods, new consoles launched successfully and became significant drivers of growth for several years. As such, we believe it is unlikely that decreasing consumer confidence and economic growth would meaningfully impact video game sales in 2008."
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