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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.
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 | 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.
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.
May 9, 2006 | Satoru Iwata, SATORU IWATA is president of Nintendo Co.
DO YOU KNOW someone who's never read a book? Watched a TV show? Seen a movie? It's unlikely, because these are true forms of mass entertainment. But on the other hand, do you know someone who's never played a video game? Probably you do. We like to talk in our industry about mass appeal, but I wonder if we will ever achieve it. We frequently compare ourselves to the motion picture business. We are fascinated with the movies.
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)
February 4, 2004 | From Reuters and Times Staff Reports
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.
October 23, 2003 | Alex Pham, Times Staff Writer
Driven by strong sales of its "Madden NFL" franchise, video game publisher Electronic Arts Inc. on Wednesday reported higher profit and sales in its fiscal second quarter. EA, based in Redwood City, Calif., posted sales of $530 million in the quarter ended Sept. 30, up 17% from the same period a year ago. Net income surged 52% to $77 million, or 50 cents a share, from $50 million, or 35 cents, a year earlier.
July 10, 2006 | Dawn C. Chmielewski, Times Staff Writer
Sony Corp. has patented technology that would prevent its PlayStation consoles from playing used, rented or borrowed video games -- raising questions about whether the electronics and entertainment giant may attempt to redefine what it means to own something in the digital age. Sony has said little about the technology, patented in Japan in 2000, or how it might be deployed.
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