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BUSINESS
January 13, 2007 | From the Associated Press
A strong December capped off a record year for the video game industry, with U.S. sales of software, hardware and accessories up 19% to $12.5 billion in 2006, according to market research firm NPD Group. Last year saw the long-awaited launch of new gaming systems from Nintendo Co. and Sony Corp., but older systems dominated software and hardware sales in part because of a scarcity of next-generation consoles.
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BUSINESS
January 1, 2002 | ALEX PHAM, TIMES STAFF WRITER
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.
BUSINESS
June 12, 2009 | Alex Pham
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.
BUSINESS
October 29, 2002 | Alex Pham and Corie Brown, Times Staff Writers
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.
ENTERTAINMENT
November 12, 2012 | By Ben Fritz
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.
BUSINESS
November 18, 2009 | Ben Fritz
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.
BUSINESS
June 5, 2011 | By Alex Pham and Ben Fritz, Los Angeles Times
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.
ENTERTAINMENT
November 15, 2012 | By Ben Fritz
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)
BUSINESS
November 29, 2011 | By Alex Pham, Los Angeles Times
This year, before the pumpkin pie and turkey gravy even hit the Thanksgiving table, Reili Waniss got a head start on her perennial New Year's resolution to lose weight and get fit. She did it with a video game called Zumba Fitness 2, which she bought this summer and began playing at home while her twin toddlers napped. She lost 32 pounds in 4 months, a third of the way to shedding the 100 pounds she gained while pregnant. "It's crazy, but I've totally fallen in love with this game," said the 31-year-old lab technician from Rancho Santa Margarita.
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