Videogame sales tumble 15% as spending moves on, hardware hurdles remain
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Videogame industry sales slipped year-over-year for a fifth straight month in March, as the group continues to wrestle with some tough pandemic comparisons and the ongoing challenges at getting hardware into gamers' hands - not to mention the rapid return of rival categories for videogame spending.
The drop got steeper as well. Overall sales slid 15% from March 2021, to $4.853 billion, according to NPD Group. The industry numbers had fallen 6% year-over-year in February; January had dipped just 2%; and December sales had fallen just 1% year-over-year.
Once again, hard-to-find hardware proved an anvil on sales, though there were broad declines across all categories. Hardware sales fell 24% from the prior March to $515 million. That wrapped up a first quarter where total year-to-date hardware sales were 15% lower at $1.2 billion.
Microsoft's (NASDAQ:MSFT) Xbox Series was March's best-selling platform in dollar terms, while the Nintendo Switch (OTCPK:NTDOY) led in unit sales.
Accessory spending also slid, by 23% to $227 million. For the entire first quarter, accessory spending fell 16%, to $592 million. The best-selling accessory for March and the first quarter was still the Xbox Elite Series 2 Wireless Controller (MSFT).
The biggest category, game content, also fell by double digits, though. Those sales dropped 13% year-over-year to $4.11 billion, sinking content's first-quarter numbers to the tune of a 7% decline to $13.9 billion.
The dollar-sales chart in games continues to see fairly fresh names grabbing attention in 2022. Elden Ring (OTCPK:NCBDY) built on its chart-topping position, adding double-digit sales growth from its February launch, analyst Mat Piscatella notes. In just two months, it's already the second-best seller on a trailing-12-month basis, behind only Call of Duty: Vanguard (ATVI).
Elden Ring was followed by a strong launch for Gran Turismo 7 (NYSE:SONY), which set a record first month for the racing franchise, as well as two other newcomers in Kirby and the Forgotten Land (OTCPK:NTDOY) and MLB: The Show 22. Last month's No. 2, Horizon: Forbidden West (SONY), drops to the fifth spot.
Rounding out the top 10 on the dollar-sales game chart: No. 6, PokÃ©mon Legends: Arceus (OTCPK:NTDOY); No. 7, WWE 2K22 (TTWO); No. 8, Mario Kart 8 (OTCPK:NTDOY); No. 9, Call of Duty: Vanguard (ATVI); and No. 10, Stranger of Paradise: Final Fantasy Origin (OTCPK:SQNNY).
Turning to mobile games, overall spend mirrored its more stationary counterpart: falling 12%, with a near-25% decline for Google Play games revenue (GOOG) (GOOGL).
Sensor Tower data show the top mobile games by revenue for March were Candy Crush Saga (ATVI), Roblox (RBLX), Coin Master, Garena Free Fire (SE), Genshin Impact, Evony: The King's Return, Bingo Blitz, Royal Match, and Candy Crush Soda Saga (ATVI).
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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