Video Game Spending Was Higher In July 2024

As a seasoned gamer with over two decades of gaming under my belt, I must say that the latest market report by Mat Piscatella is music to my ears! The 10% increase in overall video game spending this July compared to last year is a testament to the ever-growing popularity and evolution of our beloved industry.

Mat Piscatella, a top executive and gaming market consultant at Cricana, has returned with his analysis of the U.S. video game market in July 2024. The data shows that overall spending on video game hardware and content increased by approximately 10% compared to the same period last year.

According to Piscatella’s recent disclosure, a staggering amount of $4.8 billion was spent on video game hardware, content, and accessories within the U.S. last July. This total spending saw an increase of 10% compared to the same period in the previous year, and as of now, the year-to-date spending for 2024 stands at $32 billion – a 2% rise over 2023’s figures.

2024 Highlights of the U.S. Video Game Market from Circana: The projected total spend on video game hardware, content, and accessories in July 2024 was $4.8 billion, marking an increase of 10% compared to the same month last year. Moreover, the spending for the whole year up until July 2024 stands at $32.1 billion, which is a 2% rise compared to the corresponding period in 2023.
— Mat Piscatella (@MatPiscatella) August 21, 2024

Overall Game Spending For July 2024

Compared to the previous year, total content expenditure in July experienced a boost of around 10%. The cost for console content specifically surged by approximately 29%, while mobile content saw an increase of about 8%. Conversely, investments in PC, cloud, and non-console VR content dipped by around 6% during this period.

In July, there was a 10% rise in the amount spent on video game content compared to the same month last year. This growth was due to a 29% increase in console content expenditure and an 8% jump in mobile spending. However, these gains were partially counteracted by a 6% decrease in spending on PC, cloud, and non-console VR content.
— Mat Piscatella (@MatPiscatella) August 21, 2024

In July, the following top 10 best-selling video games were EA Sports College Football 25, a bundle of EA Sports MVP games, Elden Ring, Call of Duty: Modern Warfare 3, Minecraft, Nintendo World Championships: NES Edition, Hogwarts Legacy, MLB: The Show 24, EA Sports FC 24, and Marvel’s Spider-Man 2.

Additionally, it’s worth noting that video game hardware expenditure grew by a substantial 12%, amounting to $326 million, in contrast to the previous year (2023). This growth was evident in both PlayStation 5 and Xbox Series consoles, with sales rising respectively by 25% and an impressive 48%. However, the Nintendo Switch market saw a significant decrease of 44% in July 2024.

1) The PlayStation 5 outperformed in both unit and dollar sales, with the Xbox Series Settling for second place. Notably, July 2024 marked the first time since December 2023 that there was an increase in year-on-year video game hardware spending.

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