UK Video Game Spending Drops 29.4% in First Half of 2024, Music and Video Sales Rise
Video game spending in the UK saw a significant decline of 29.4% in the first half of this year, while music and video sales experienced growth.
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Physical game sales plummeted by 40% to £111.7m compared to the same period in 2023, with digital downloads also down by 23% to £236.9m, according to figures from the Digital Entertainment and Retail Association (ERA). The report attributes this downturn to a subdued release schedule for new games.
ERA CEO Kim Bayley commented, “The games industry faced challenges in the first half due to a lack of major releases, but we anticipate a stronger second half, traditionally marked by blockbuster launches.”
Despite the slowdown, notable releases included Final Fantasy 7: Rebirth for PlayStation 5, though it fell short of its predecessor’s sales figures.
Looking ahead, the second half of 2024 promises a lineup of highly anticipated games, such as Star Wars Outlaws in August, EA Sports FC 25 and The Legend of Zelda: Echoes of Wisdom in September, and Call of Duty: Black Ops 6 and Assassin’s Creed Shadows in October, alongside Dragon Age: The Veilguard.
In contrast, UK music sales, encompassing vinyl, CDs, and downloads, grew by 7.9%, buoyed by events like Record Store Day and Taylor Swift’s new album, The Tortured Poets Department.
Similarly, video sales saw growth despite a decline in physical media, thanks to increased video downloads and digital sales. This excludes revenue from streaming subscriptions like Netflix, Amazon, or Disney+.
Although video game sales saw a notable drop, the sector remains larger overall, with total spending reaching £348.6m from January to June 2024, compared to £213.7m for video and £163.8m for music.”
