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[Economist] video games recession proof?

post #1 of 14
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Quote:
IS IT any surprise that an industry that enables its customers to escape from reality into elaborate fantasy worlds is thriving in today’s gloomy economic climate? As other industries collapse, sales of video games are racing away. Global sales of console hardware and games software are expected to hit a record $49.9 billion this year, says Screen Digest, a consulting firm (see chart). Games sales in America in October totalled $697m, 35% more than a year earlier, according to NPD, a market-research firm. It is often said that video games are recession-proof. Are they really?

source
Edited by Papa.Smurf - 12/22/08 at 1:12pm
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post #2 of 14
Go figure
   
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post #3 of 14
I wish I had $50 billion dollars.
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post #4 of 14
We'll have to see. This article doesn't make much sense being posted now...2008 wasn't really all that bad, mostly just people complaining about the stock market and gasoline. Now the 2009 scores, those I'd be interested to see with the mortgage crisis, bank failures, the Big 3 in jeopardy, and a president who has alternate energy on his agenda.
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post #5 of 14
- I'm too busy fraggin' to realize there's an economy

- The economy can't stop me from getting my M-M-M-Monster Kill-ill-ill

- People lose their jobs so they stay at home and game
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post #6 of 14
Kids buy games. I don't know many kids currently paying off a mortgage or car payment or knee deep in credit card debt.

Yeah yeah yeah, a lot of parents buy their kiddies games, but thats just a thought.
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post #7 of 14
Quote:
Originally Posted by pauldovi View Post
Kids buy games. I don't know many kids currently paying off a mortgage or car payment or knee deep in credit card debt.

Yeah yeah yeah, a lot of parents buy their kiddies games, but thats just a thought.
There are tons of adult gamers now. Hell, I'm one. People 35 and under grew up with video games. Its not just for kids anymore.
   
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post #8 of 14
interesting sales are going up yet companies like EA are showing losses in profit and are even closing down and relocating dev teams
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post #9 of 14
Quote:
Originally Posted by kkbob33 View Post
There are tons of adult gamers now. Hell, I'm one. People 35 and under grew up with video games. Its not just for kids anymore.
Agreed, while I am still one of the young ones (21) you'll find a huge age group nowadays. Lots of the guys I play UT with are in their 30's and some 40's, they grew up with UT since 1999 and continue playing it to this day.

10Yrs ago I would have agreed with Paul.
    
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post #10 of 14
Quote:
Originally Posted by grmnasasin0227 View Post
We'll have to see. This article doesn't make much sense being posted now...2008 wasn't really all that bad, mostly just people complaining about the stock market and gasoline. Now the 2009 scores, those I'd be interested to see with the mortgage crisis, bank failures, the Big 3 in jeopardy, and a president who has alternate energy on his agenda.
Not really. The 2008 second half was marred by the economic downturn. For the last 4 months everything has been slowing. Such a massive decrease in sales should have offset the sales of the first half. It has not which probably means the Economist is right (a very reputable source by the way).

Quote:
Originally Posted by pauldovi View Post
Kids buy games. I don't know many kids currently paying off a mortgage or car payment or knee deep in credit card debt.

Yeah yeah yeah, a lot of parents buy their kiddies games, but thats just a thought.
Average gamer's age is 28.
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