According to the Entertainment Software Association (ESA) and the NPD Group joint report, the U.S. computer and video games industry generated $23.5 billion in revenue in 2015, which is a 5% increase over the 2014’s figure of $22.4 billion. This includes total sales of hardware and software, with both physical and digital sales. The sales of software, including both physical and digital, increased by 7% from $15.4 billion in 2014 to $16.5 billion in 2015.
Michael D. Gallagher, president and CEO of the ESA has indicated that the video game industry excels because the developers and publishers are able to anticipate the demand very well. They give players “what they want before they realize that they want it.” Game companies are capable of driving trends in entertainment and across countless other sectors.
Joanne Hageman, president at the NPD Group said that “The ubiquitous nature of playing and purchasing video games makes it more important than ever to track these activities accurately.” She added that 2015 was an especially successful year for the video game industry performance, and the line up of very promising titles in 2016 gives a solid indication that the growth trend would continue this year too.
With 7% growth, the video game industry is one of the fastest sectors of the US economy, generating multi-billion revenue and providing jobs to many Americans. According to ESA data, employment in video games grew at an annual rate of 9% from 2009 to 2012, which is more than 13 times the growth of the U.S. labor market. The average salary in the video games industry was almost $95,000 in 2012, which is an increase over the average of $90,000 in 2010.Related Topics: ESA, Joanne Hageman, Michael D. Gallagher, NPD