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Consumer spending in the gaming industry down 13 percent last quarter

The bottom line is: In the next quarter, US consumer shelling out for gaming content fell by 13 percent year-over-year, and hardware and accessories dropped by one and 11 points, respectively. Regarding consoles, the Nintendo Switch sold probably the most units, as the PlayStation 5 generated probably the most money. Meanwhile, MultiVersus overtook Elden Ring because the biggest-selling game last month.

General market trends group NPD’s report on US consumer shelling out for gaming content reveals that sales for hardware and accessories fell to $12.35 billion in the next quarter, a 13 percent decline year-over-year. The reason why behind this decline reportedly include continued console supply constraints (mainly the PlayStation 5), a lower life expectancy amount of new game releases, rising living costs, and the return of experiential spending (travel, attending live events, etc.). However, NPD notes that consumer spending continues to be above pre-pandemic levels.

Overall gaming content spending, including physical and digital sales, DLCs, microtransactions, and subscriptions across consoles, cloud, mobile, portables, PC, and VR tanked by 13 percent last quarter to $10.97 billion. Subscription content was the only real segment to create positive gains, while mobile game spending dropped 12 percent.

US NPD PREMIUM GAMES – July 2022 Top 20 Sellers pic.twitter.com/a2YXDdqwp0

Mat Piscatella (@MatPiscatella) August 19, 2022

Gaming hardware sales remained relatively steady last quarter, dropping by only 1 percent YoY. The Nintendo Switch family sold probably the most units, as the PlayStation 5 generated the best dollar sales in the time. Spending on gaming accessories fell by 11 percent in the next quarter, due mainly to a drop in gamepad sales.

In July, MultiVersus dethroned Elden Ring because the best-selling gaming (in dollars), despite only releasing on the 19th. MultiVersus is really a free-to-play game, but in-game microtransactions in conjunction with Founders Packs containing character tickets used to unlock fighters helped it earn more income than paid games.

The fighting game saw probably the most success on Xbox platforms, accompanied by Elden Ring and Call of Duty: Vanguard. On PlayStation, Elden Ring arrived at the top, with MLB: The Show 22 also doing much better than MultiVersus. Meanwhile, Xenoblade Chronicles 3 was the best-selling game of July on the Nintendo Switch, with Mario Kart 8 and Kirby and the Forgotten Land rounding out the very best three.

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