Video-game sales overtaking music - MSN Money - 0 views
articles.moneycentral.msn.com/...oGameSalesOvertakingMusic.aspx
Economy Games Money Sales Music Growth
shared by Ben Walters on 15 Nov 10
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6/26/2007
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video-game sector will remain one of the above-average growth segments of the global entertainment industries through 2011, with global games spending set to exceed music spending this year
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Key growth engines will include online and wireless games, new-generation consoles and the burgeoning in-game advertising business.
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2011, the worldwide gaming market will be worth $48.9 billion at a compound annual growth rate of 9.1%
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For the U.S. gaming business, PwC projects 6.7% compound annual gains for the five-year period, to $12.5 billion. Asia-Pacific should remain the region with the highest overall spending on gaming during the period and reach $18.8 billion in 2011, PwC forecasts.
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Despite its leading size, its 10% average annual gains will only be exceeded by the combined region of Europe, the Middle East and Africa (EMEA), which is pegged for a 10.2% compound annual gain and is set to remain at No. 2 in terms of worldwide gaming.
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Consumer spending on console and hand-held games will go from $6.5 billion in 2006 to $7.9 billion in 2011
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However, the U.S. PC games market will continue its decline, with PwC eyeing a contraction from an estimated $969 million in 2006 to $840 million in 2011.
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this estimate could prove conservative as "advertisers like to reach the younger males" that many games tend to attract.
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He also said that the overall gaming audience continues to expand and become somewhat more female and older than in the past thanks to casual games and the arrival as games as an "important part of culture."