Global industry-tracking company, GfK, reported Monday that video game sales have overtaken home movie sales for the first time. According to the report, gaming's worldwide revenue reached $32 billion in 2008. In the U.S. alone, the video game industry nabbed $21 billion in revenue.
Combined worldwide DVD and Blu-ray sales fell 6 percent during 2008, chalking up $29 billion in revenue, reports Video Business.
GfK analysts believe 2009 will see the video game industry further its dominance over the DVD and Blu-ray market, raising revenue to $36 billion. The researchers expect DVD/Blu-ray sales to fall another 4 percent to $27 billion during the same period.
Now, it should be noted that revenue isn't always a good measure of comparison between video games and the film industry. After all, video games usually retail for $60 and the most expensive Blu-ray films retail for approximately $30. But the most telling statistic in GfK's study isn't necessarily the amount of cash each industry collected, but rather the rate at which the video game industry grew during 2008 (19 percent since 2007), compared to the rate at which the film industry's sales declined (6 percent). From that, we can gather that consumers aren't as willing to buy films as they once were and, at least in my case, video games have become the preferred form of entertainment.… Read more