2018 has certainly become a lucrative year for the video game industry, with the month of October becoming a particular stand out. The NPD Group, who are a leader in industry analysis, have put out a new report that proves just how big this year and the month of October were.
The report suggests that the 12 month period ending in October of this year had the highest consumer spending since 2011. It was also reported that October 2018 had the highest consumer spending of any month since the NPD Group begun tracking data in 1995. That makes it the best month for video game sales probably ever, certainly in the last 23 years.
No doubt the video games industry has been on an incline ever since its inception. To see positive data isn’t surprising, but October 2018’s results certainly go beyond positive. In fact, total industry-wide video game sales reached $1.5 billion USD in that month alone. That’s a staggering 73% increase over the sales of October 2017. Software sales doubled whilst hardware sales were up by 25%, and even accessories and pre-paid game card sales increased by 54%.
So what’s with the huge increase?
No doubt the most substantial point of data isn’t the hardware side of things, but instead the heavy increase in video game sales, both physically and digitally. Red Dead Redemption 2 certainly pulled a fair share of the weight, which released late October. In its opening weekend the game earned upwards of $725 million USD and earned the accolade of having the best selling opening weekend across all media. The behemoth that is the Call of Duty series also helps account for October’s tremendous success with the latest entry releasing October this year whilst its predecessor released in November.
The results of the NPD Group research is definitely enlightening, although it’s important to remember these figures aren’t infallible. Research is conducted using information uncovered from participating publishers alongside publically available sales details and projected sales figures. However even though the results may not be as good as gospel, they tend to be a reliable indication and they certainly help to uncover industry trends. Were you a big spender last month?