June 12, 2009 |
Consumers, daunted by the recession, hit the pause button on buying video games in May. The game industry last month racked up $863.3 million in sales of games and consoles, the first time since August 2007 that monthly sales came in less than $1 billion, according to a report released Thursday from market research firm NPD Group Inc. Sales of game consoles took a big hit last month, dropping 30% to $302.5 million from $433 million in May 2008.
January 1, 2002 |
The launch of new consoles in 2001 positioned the U.S. video game industry to hit a record $9billion in sales, but game publishers and analysts expect this year and next to be even better. As production constraints ease, Nintendo Co.'s GameCube and Microsoft Corp.'s Xbox machines should be available in greater numbers, which in turn should fuel the sale of more software. Some project the U.S. games industry to surpass $10billion in 2002--and widen its lead over box office receipts.
October 29, 2002 |
Despite a soft economy that tempered sales of gadgets, Sony Corp. on Monday posted a second-quarter profit that was higher than expected, citing aggressive cost cutting and strength in its video games business. The Tokyo-based media and consumer electronics giant also slightly lowered its revenue forecast for its fiscal year, citing consumer skittishness in the United States and Europe.
November 12, 2012 |
The video game industry got a much needed bonus last Tuesday as "Halo 4" players around the world spent more than $220 million on the heavily marketed sequel. That's the highest ever first day gross for Microsoft Corp.'s blockbuster science-fiction/action franchise. 2010's "Halo Reach," the previous record holder, enjoyed a $200-million "opening day. " Microsoft did not report how many "Halo 4" units it sold on launch day, but based on the game's U.S. retail price of between $60 and $100, the total is more than 2.2 million.
February 10, 2011 |
Striking the death knell for a once-hot music game business, Activision Blizzard Inc. said Wednesday that it would disband Guitar Hero and scrap development of a Guitar Hero title slated for this year. At the same time, the Santa Monica company told analysts during a conference call to announce fourth-quarter results that it would invest heavily in creating an online service dubbed BeachHead for an existing video game, Call of Duty. Activision, which provided little detail on the upcoming service, also dropped hints about a new product it plans to announce next week at Toy Fair in New York, as well as a new multi-player online title from its Blizzard Entertainment studio in Irvine.
November 18, 2009 |
On a cloudy Friday afternoon on Venice Boulevard in West Los Angeles nearly two weeks ago, about 50 people were waiting to buy a video game that wasn't supposed to go on sale for four days. "Do you have it yet?" an eager customer asked an employee of the store Game Play. The object of his desire, Call of Duty: Modern Warfare 2, officially launched Nov. 10. But despite the recession that has crimped consumer spending, demand was so high that many stores started selling it as soon as shipments arrived.
June 5, 2011 |
At the video game industry's first Electronic Entertainment Expo 16 years ago, Sony Corp.'s PlayStation and Sega's Saturn dazzled attendees and defined the cutting edge of coolness with their CD drives and three-dimensional graphics. This week, as the industry gathers in downtown Los Angeles for its annual E3 extravaganza, some experts are questioning how significant those boxes of electronics really are in a rapidly changing video game business. After dominating the market for decades and making their way into 1 out of every 2 U.S. homes, consoles are beginning to face serious competition as teenagers and adults increasingly play games designed for smartphones, tablets and online social networks.
November 15, 2012 |
While sales of new video game discs have been plummeting all year, it turns out gamers are spending their money to play in other ways. During the third quarter (from July through September), total spending on video games -- new and old, purchases and rentals, physical and digital -- totaled $1.07 billion in the U.S., according to research firm NPD Group. That's down only 1% from a year ago. Those figures are more heartening to the game industry than monthly figures for new physical game sales and consoles that are released by NPD. In total, spending on physical games dropped 16% during the third quarter, and spending on games on digital platforms jumped 22%. Video game publishers make no money from used game sales or rentals (besides the initial sales of those titles)
February 4, 2004 |
In an unusual move for a brokerage firm, a Banc of America Securities analyst on Tuesday called for the ouster of Take-Two Interactive Software Inc. Chairman Ryan Brant, citing the video game publisher's accounting troubles and Brant's pattern of personal stock sales. BofA analyst Gary Cooper also said Take-Two should replace director and audit committee member Oliver Grace, one of the company's largest shareholders through his position as a partner at Anglo American Security Fund.