Quarterly consumer spending on video game products reached the highest total in US history in the first quarter of 2020.
That’s according to a new report from The NPD Group, which indicates that isolation measures resulted in a nine percent increase in industry consumer spending during Q1 (Jan – Mar) compared to the same period last year, totalling a record $10.86 billion.
Video game content (software) accounted for $9.58 billion of the total, an 11 percent increase year-over-year.
Doom Eternal, Call of Duty: Modern Warfare, Minecraft and Animal Crossing: New Horizons were among the best-selling titles during the quarter, we’re told.
On the hardware side, console makers raked in $733 million, led by strong sales of Nintendo’s Switch which continues to be next to impossible to find at retail.
Nintendo is well aware of the shortages, recently vowing to boost production by 10 percent to help deal with demand. Even still, with lockdown orders continuing to impact manufacturing in key regions, inventory could remain tight for a bit longer. This has prompted some to come up with clever solutions to get their hands on a system.
Gaming platforms have seen a significant rise in engagement in recent months, as many countries around the world advise their citizens to stay at home due to the coronavirus pandemic.
Gaming content on YouTube generated 17 billion views during the week of March 30 – a record high for the video sharing platform.
Microsoft also announced record engagement figures for gaming services, with Xbox Live active users approaching 90 million and Game Pass subscribers topping 10 million during the company’s third financial quarter ended in March.
