Report: PC and console global gaming dipped to $92.3bn in 2022
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Newzoo's newest report reveals that global consumer spending for PC and console gaming declined by 2.2%, totaling $92.3 billion in 2022.
Here's what you need to know from Newzoo's PC and Console Gaming Report 2023:
The market intelligence firm attributed the slight decrease in consumer spending partly to fewer console game releases in 2022.
Regarding the market breakdown by revenue, console games made up the lion's share at 56.2%. Boxed and downloaded PC titles commanded 41.3% of the market share. Meanwhile, browser PC games spending accounted for 2.5% of global game spending.
Newzoo notes that in terms of country and region, the US led with $31.2 billion in revenue, taking up 34% of the market. The Asia-Pacific was second as it commanded 33% of total game spending as it amassed $30.2 billion. Europe placed third with its total of $24.3 billion in earnings for PC and console games, making up 26% of the market share.
The report highlights that when it comes to 2022's gaming revenue, the US and China alone took up 48% of the market.
Among the business trends that were observed, the intelligence firm notes that more AAA and AA publishers are moving franchises to live services and subscription models. It named Fortnite, Minecraft, and Roblox as examples of why firms will launch fewer new titles and focus on expanding the lifespan of established series.
The report also said that more gaming consoles will become available to consumers as the supply chain will allow for more production.
"Developing solely for PC or console will still be viable in the years to come, driven by live services, better access to hardware, and hybrid monetization,"
Read more on gamesindustry.biz
