Gaming
Video games revenue topped the lucrative music industry last year, according to statistics from the Entertainment Retailers' Association.
Games proved to be the second most valuable entertainment sector during 2007, finishing just behind DVD revenue.
ERA director general Kim Bayley told MCV: "Games have overtaken music massively this year – music revenues are down on last year’s figures and game sales are huge in comparison now.
“In unit terms music is still important, but in value terms a lot less so.
"Games prices hold up a lot better against music and DVD – it won’t be long until games revenue overtakes DVD. In years to come, games and DVD will vie to become the biggest market. That battle will depend on what products are out and how retailers react.”
One of the main reasons for the drop in retail music revenue, however, is an increase in sales of digital downloads.
Entertainment Spending:
2005:
Video/DVD: £2,196m
Music: £1,839m
Games: £1,345m
Total: £5,380m
2006:
Video/DVD: £2,122m
Music: £1,651m
Games: £1,361m
Total: £5,134m
2007:
Video/DVD: £2,164m
Games: £1,719m
Music: £1,417m
Total: £5,300m
Games proved to be the second most valuable entertainment sector during 2007, finishing just behind DVD revenue.
ERA director general Kim Bayley told MCV: "Games have overtaken music massively this year – music revenues are down on last year’s figures and game sales are huge in comparison now.
“In unit terms music is still important, but in value terms a lot less so.
"Games prices hold up a lot better against music and DVD – it won’t be long until games revenue overtakes DVD. In years to come, games and DVD will vie to become the biggest market. That battle will depend on what products are out and how retailers react.”
One of the main reasons for the drop in retail music revenue, however, is an increase in sales of digital downloads.
Entertainment Spending:
2005:
Video/DVD: £2,196m
Music: £1,839m
Games: £1,345m
Total: £5,380m
2006:
Video/DVD: £2,122m
Music: £1,651m
Games: £1,361m
Total: £5,134m
2007:
Video/DVD: £2,164m
Games: £1,719m
Music: £1,417m
Total: £5,300m
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