Videogame sales heading for decline in U.S., but one analyst sees a 2023 rebound [MarketWatch]
Activision Blizzard, Inc (ATVI)
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Source: MarketWatch
Videogames are heading for a U.S. sales decline in 2022, but a looming recession and new releases could turbocharge a rebound in 2023, according to one analyst. Stifel analyst Drew Crum said he estimates U.S. videogame sales to decline 6% to $57 billion in 2022, benchmarked against data from NPD Group. That contrasts with videogame data-research firm Newzoo's estimate of 2% growth, Crum said. Meanwhile, worldwide videogame-sector sales are forecast to squeak on by with year-over-year growth of 0.4% to $275 billion, according to IDC analyst Lewis Ward. The IDC analyst includes data in his figures that some analysts do not, such as ad revenue from mobile games, which Ward expects to rise 13% to $36.2 billion annually worldwide. Read: The pandemic boom in videogames is expected to disappear in 2022 2022 was always expected to be a weak year, compared with 2021's pandemic-driven sales. That not only makes 2023 comps slightly better, but Crum said that videogames also have an edge
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