Video Game Spending Jumps 10% In July 2024, '2025 Growth Potential Is Significant': Report
Portfolio Pulse from Franca Quarneti
The U.S. video game industry saw a 10% increase in spending in July 2024, driven by strong sales in hardware, content, and accessories. Electronic Arts' EA Sports College Football 25 was a top seller. Despite a cautious 2024 outlook, 2025 is expected to see significant growth with new hardware from Nintendo and the release of Grand Theft Auto 6 by Take-Two Interactive.
August 22, 2024 | 6:41 pm
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POSITIVE IMPACT
Electronic Arts' EA Sports College Football 25 is the best-selling game of 2024 so far, contributing to the 10% increase in video game spending in July.
EA's game is a major contributor to the industry's revenue growth, indicating strong consumer interest and potential for continued sales momentum.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Nintendo's next-generation hardware platform is expected to drive significant growth in 2025, contributing to a positive industry outlook.
The anticipation of Nintendo's new hardware is expected to stimulate market growth, making it a key factor in the optimistic 2025 forecast.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Take-Two Interactive's Grand Theft Auto 6 is anticipated to be a major release in 2025, potentially becoming the biggest entertainment launch in U.S. history.
The release of GTA 6 is highly anticipated and expected to significantly impact the market, contributing to the positive growth outlook for 2025.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 75