Activision Blizzard, Inc (NASDAQ: ATVI), Microsoft Corporation (NASDAQ: MSFT) – More than $ 1.5B spent in the gaming industry in March, while the world got stuck at home due to the pandemic

In March, all video game categories experienced double-digit sales growth in the United States, as people turned to video games to pass the time amid requests to stay home from the pandemic.

What happened

In March 2020, spending on gaming hardware, software, accessories, and game cards raised $ 1.6 billion, an increase of 35% over the same period last year. The figure is the highest since sales of $ 1.8 billion recorded in March 2008.

The sales increase by category was 63% for hardware, 34% for software, and 12% for game cards and accessories.

For the period through 2020 (Q1), spending totaled $ 3 billion, a 4% drop from Q1 2019, according to data released by The NPD Group, a market research company.
Mat Piscatella, a gaming industry analyst at The NPD Group, attributed the strong sales to social estrangement and requests to stay home. He said: “Whether they play together on the couch locally or online, the games have generated more engagement, which has resulted in corresponding increases in consumer spending.”

Because it is important

Nine of the top ten best-selling video games in March 2020 generated higher sales than in the same period last year. According to NPD, video game software sales have reached $ 739 million, which is the highest number since 2011.

Hardware spending in March 2020 increased to $ 461 million, while total spending on accessories and game cards was $ 397 million, a record high.

Piscatella tweeted that the sales of the Nintendo Co., Ltd (OTC: NTDOY) Switching units doubled in March 2020 in the US. USA Year by year in comparison.

Sony Corporation (NYSE: SNE) PlayStation 4 and Microsoft Corporation (NASDAQ: MSFT) Xbox One sales were also up 25% in the same period.

Separately, the veteran analyst also revealed, “The Nintendo Switch set a new all-time record for hardware unit sales in one month of March, beating the previous record for the Nintendo Switch in its March 2017 release month.”

Nintendo topped the software charts as a rookie “Animal Crossing: New Horizons” was the best-selling game for March 2020.

Activision Blizzard Inc. (NASDAQ: ATVI) “Call Of Duty New Horizons” was second. Another new game, Sony’s “MLB: The Show 20,” ranked third on the MLB charts.