US Consumer Spending On Video Games Jumped By 42% To $4.7 Billion In January 2021

On a global scale, there was a 15% increase in digital games revenue in January 2021, pushing the total to $11.6 billion.

In the US, gaming revenue rose to an impressive high during the month thanks to the new generation of consoles. According to the research data analyzed and published by Safe Betting Sites, US gaming revenue soared by 42% year-over-year (YoY) to $4.7 billion in January 2021. The massive increase was attributed to the new generation of consoles.

Nintendo Switch Lifetime Sales Soar to 80 Million

Hardware sales rose by 144%, going from $131 million in January 2020 to $319 million in January 2021. Accessories spiked by 73%, from $128 million to $222 million while software had a 36% increase from $3.06 billion to $4.17 billion.

Overall spending in the previous month had also hit a new December peak, rising by 25% to $7.7 billion. Hardware sales had risen by 38% to $1.38 billion, the highest December total since 2013.

Nintendo’s Switch was the best-selling console in January 2021, while the PS5 was second. For the holiday quarter, it sold 11.57 million units, bringing its lifetime total to about 80 million according to Statista.

It is on track to surpass the Wii, which sold 101.63 million units in its lifetime. In fact, the Nintendo Switch has been the US’ best-selling console for 25 consecutive months.

The US video games industry broke multiple records in 2020. In Q4, there was an increase of 26% YoY in total revenue to $18.6 billion, setting a new Q4 high. On the other hand, full-year revenue soared by 27% to $56.9 billion.

Additionally, overall spending on PC gaming hardware and accessories during the year rose by 62% YoY to $4.5 billion. That was double the 2017 sales figure. However, the NPD forecasts a plateauing of demand in 2021, with PC hardware and accessories growing by 3% only.

The full story, statistics and information can be found here: https://www.safebettingsites.com/2021/03/04/us-consumer-spending-on-video-games-jumped-by-42-to-4-7-billion-in-january-2021/

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