Videogame sales slip 8% in first quarter, with mobile leading declines
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Consumer videogame spending fell 8% in the first quarter compared to the same period in 2021, an indicator of the comedown from mid-pandemic highs as some consumer dollars found their way back to alternative experiences, and the industry continued to struggle getting new consoles into buyers' hands.
Data from NPD Group's Q1 2022 Games Market Dynamics report show overall spending at $13.9 billion for the January-March quarter, with broad declines - though mobile contributed most to the drop, with U.S. spending in mobile games dropping 10% year-over-year, according to Sensor Tower.
Declines were seen in console and portable content, PC, cloud and non-console VR content, mobile content, hardware and accessories.
Content spending, the biggest factor, overall fell 7% - subscription content was the only segment there that gained, NPD says - while hardware spending fell 15% (unit sales led by Nintendo Switch (OTCPK:NTDOY); dollar sales led by Xbox (NASDAQ:MSFT)), and accessories spending dropped 16%.
Still, "spending and engagement remained significantly higher than pre-pandemic levels," says analyst Mat Piscatella, noting constraints on spending included "continued supply constraints on new console hardware, a comparable quarter from last year that included government COVID-19 stimulus checks for individuals, and the return of experiential spending opportunities that had been depressed last year, among others.â
As noted, mobile contributed the biggest decline, with an "uncharacteristic quarter-over-quarter decline in mobile game spending" coming out of 2021, Sensor Tower's Randy Nelson says. Despite a net slowdown across the portfolio, usage of the most popular titles grew, with combined users up not only from Q1 2021, but also from Q1 2019.
Among the best-selling and most-played games across all platforms for the quarter, according to NPD Group: Animal Crossing: New Horizons (OTCPK:NTDOY), Call of Duty: Vanguard (NASDAQ:ATVI), Call of Duty: Warzone (ATVI), Candy Crush Saga (ATVI), Candy Crush Soda Saga (ATVI), Coin Master, Elden Ring (OTCPK:NCBDY), Fortnite (Epic/OTCPK:TCEHY), Grand Theft Auto V (TTWO), Horizon: Forbidden West (NYSE:SONY), Madden NFL 22 (EA), Mario Kart 8 (OTCPK:NTDOY), Mario Party Superstars (OTCPK:NTDOY), Minecraft, NBA 2K22 (TTWO), PokÃ©mon GO (OTCPK:NTDOY), PokÃ©mon Legends: Arceus (OTCPK:NTDOY), Roblox (RBLX), The Sims 4 (EA), and WWE 2K22 (TTWO).
Related tickers: OTCPK:NTDOY, SONY, MSFT, HEAR, LOGI, CRSR, EA, ATVI, TTWO, WBD, OTCPK:UBSFY, OTCPK:NCBDY, OTCPK:SQNNY, OTCPK:CCOEY, OTCPK:SGAMY, ZNGA, SKLZ, SE, NTES, OTCPK:TCEHY, RBLX. Retail stock: GME.
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The March report that wrapped up Q1 showed sales dropped year-over-year for their fifth straight month.