Reported 2 months ago
Newzoo has revised its growth forecast for the global video game market, predicting a 2.1% increase in revenue to $187.7 billion, down from earlier expectations of 2.8%. The adjustment comes as console sales lag behind amid a sparse game release schedule and ongoing challenges in the industry, including layoffs and studio closures. Despite a decline in overall playtime since early 2021, gamer spending persists, particularly in PC gaming, which benefits from moving console exclusives. The global gamer population is anticipated to reach 3.42 billion by 2024.
Source: YAHOO