The video game industry is a shining light amidst the gloomy economic outlook many industries are facing due to COVID-19. The industry actually reached new heights in the US during the pandemic shattering sales records from previous years. According to data presented by safebettingsites.com, video game sales increased by 73% at the height of lockdowns in April from the same month of the previous year.
Lockdowns Boost Traditionally Low Period
The lockdowns that had to be introduced after the pandemic took hold of the world significantly boosted a traditional slump in the video game industry. In the latter parts of March, lockdowns were introduced which saw video game sales increase by 35% for the same month the year prior.
The month of April which was under lockdown conditions in the US for its entirety logged a 73% increase from .85 billion in 2019 to 1.47 Billion in 2020. This trend is the same across the months of March through June a period in the year traditionally known for a slump in video game sales due to post-holiday spending fatigue and summer sales.
Software Sales Increase by 49% in June
Tracked spending data shows a significant increase in software-related purchases for the month of June compared to the same month last year. In 2019 software purchases for June amounted to $382 M which skyrocketed to $570 M in 2020, a 49% increase. This is the highest total for software sales since 2010. Total spending for the month of June also reached its highest since 2009 with a total of $1.2 billion.
Year-to-Date Spending Highest in a Decade
2020 is trending to be a strong year for video game sales as the year to date spending data shows that the industry hit its highest total since 2010. As of July 2020, year-to-date total spending was at $6.6 billion which is a 19% increase from 2019. Software sales are also significantly higher with year-to-date sales of $3 billion which is 19% higher than 2019’s numbers.