Video Game Sales Sink 31% in June

BY Andrew Miesner / July 22, 2009

The LA Times has reported that the recession is finally hitting the video game industry. In June, the sales sunk 31%, which was the largest monthly decline since September 2000 where sales dropped 41%.

Consoles such as PS3, Xbox 360, and Wii felt a 38% drop in sales and hardware painfully dropped from $617.3 million to $383.6 million. Software sales for games didn’t tumble as far but still felt a drop.

Even though these statistics don’t seem to promising, analysts have kept positive.

Industry analysts had entered 2009 confident that the recession would leave games unscathed because of its perceived value in offering dozens of hours of entertainment per title and because of people’s tendency to stay home during hard times instead of spending money on big vacations.

Some industry watchers still have hope that the industry could pull out of its current tailspin.

Source: LATimes