U.S. video game spending totaled $4.3B in October, says NPD

NPD analyst Mat Piscatella said that U.S. consumer spending on video game content, hardware and accessories totaled $4.3B during the month of October 2022, flat when compared to a year ago. Octover growth in digital sales and subscriptions for console and PC video game content, driven in large part by the release of Activision’s (ATVI) "Call of Duty: Modern Warfare II," was offset by declines in mobile content and hardware. Year-to-date spending has fallen 7% compared to this point in 2021, at $42.7B. Dollar sales of video game hardware fell 10% in October when compared to a year ago, to $424M. Double-digit percentage dollar sales growth for both PlayStation 5 (SONY) and Xbox Series (MSFT) consoles was offset by declines on other platforms. PlayStation 5 was the best-selling video game hardware of October in both unit and dollar sales, while Xbox Series ranked 2nd across both measures. Other companies in the video game space include Nintendo (NTDOY), Electronic Arts (EA), Take-Two (TTWO), Tencent (TCEHY), and Ubisoft (UBSFY). Reference Link