US Gamers Spent Less in Q2 2022 Compared to 2021

US Gamers Spent Less in Q2 2022 Compared to 2021

08/03/2022

Gamers in the United States have spent less in Q2 2022 as compared to the year before.

According to The Verge, market research firm NPD stated that spending on video games fell by $1.78 billion USD in Q2, with overall spending totalling to only $12.35 billion USD — 13% lower year over year. The report was released after Microsoft and Sony revealed a decline in their revenue; sales from Xbox consoles fell 11% year over year, Xbox content and services revenue fell 6% and overall gaming revenue fell 7%, while Sony’s game software sales fell 26% year over year, with the company stating the absence of major PlayStation titles releasing in 2022 and a change in consumers’ gaming habits as reasons for the decline. NPD adds that subscription content “was the only segment to post positive gains.”

Meanwhile, Nintendo is expected to reveal its Q1 earnings this week, however the company already previously projected that it will only sell 21 million Nintendo Switch consoles during its fiscal year — about two million less than the previous year’s 23.1 million consoles. However, the Switch sold the highest amount of units in the second quarter; the PS5 earned the highest dollar sales.

Mat Piscatella, NPD’s games industry analyst, further stated that although there is a decline in spending alongside the high rates of inflation and a major growth period, “consumer spending continues to trend above pre-pandemic levels.” He added, “However, unpredictable and quickly changing conditions may continue to impact the market in unexpected ways in the coming quarters.”

Elsewhere in gaming, Sony may have more stock of the PS5 during the latter months of 2022.
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