Consumer spending on video games fell 13% in the second quarter from the same period a year ago – accelerating year-over-year declines as industry struggles through comparisons struggling with a 2021 pandemic and struggling to emerge from supply chain woes amid an inflationary shock to entertainment consumers.
Data from NPD Group’s Q2 2022 U.S. Gaming Market Dynamics Report shows that overall spending on video games during the quarter was $12.35 billion, again with large declines, and again a times with the mobile contributing the most to this fall. The only category that showed growth for the period was non-mobile subscription content spending.
Mobile spending fell 12% compared to the same period in 2021, according to Sensor Tower.
“While our projections predicted a downward trend in mobile spending as life in the United States began to return to a new normal and consumers had fewer opportunities to engage with these titles, the economic environment certainly contributed to a faster decline,” Sensor Tower said. Randy Nelson said it was still higher than before the pandemic.
“Rising prices in everyday spending categories such as food and gas, the return of experiential spending such as travel and attending live events, a lighter release slate of new games, and restraints Continued supply of next-gen console hardware all likely contributed to the observed decline. in the second quarter,” said NPD analyst Mat Piscatella.
Hardware sales fell 1% year over year, while accessories sales fell 11%. Hardware unit sales for the quarter were led by Nintendo Switch (OTCPK:NTDOY), while dollar sales were overtaken in the quarter by PlayStation 5 (NYSE: SONY).
As for content, its sales fell 13% to $10.97 billion.
Among the best sellers and most played games on all platforms: Among Us, Angry Birds 2, Bingo Blitz (PLTK), Call of Duty: Warzone (NASDAQ: ATVI), Candy Crush Saga (ATVI), Candy Crush Soda Saga (ATVI), clash of clans (OTCPK: TCEHY), Coin Master, Diablo Immortal (ATVI), Ring of Elden (OTCPK: NCBDY), Evony: Return of the King, Fortnite (Epic/OTCPK: TCEHY), Grand Theft Auto V (TTWO), Homescapes, Kirby and the Forgotten Land (OTCPK:NTDOY), Lego Star Wars: The Skywalker Saga (WBD), Madden NFL 22 (AE), Mario Kart 8 (OTCPK:NTDOY), Minecraft, MLB The Show 22 (SONY), Pokemon GO (OTCPK:NTDOY), Roblox (RBLX), Match Royal, The Sims 4 (EA) and state of survival.
Related Codes: OTCPK:NTDOY, SONY, NASDAQ: MSFT, HEAR, LOGI, CRSR, EA, ATVI, TTWO, WBD, OTCPK:UBSFY, OTCPK:NCBDY, OTCPK:SQNNY, OTCPK:CCOEY, OTCPK:SGAMY, SKLZ, SE, NTES, OTCPK:TCEHY, RBLX. Retail stock: GME.
ETFs: GAMR, ESPO, NERD
Consumer spending on games in the first quarter fell 8% year-over-year.