Friday, January 9, 2009

Gaming Industry Recession Proof?

Whether we're in a recession or are heading for a recession, it's quite obvious that the video game industry has not been affected thus yet. Microsoft reveals that life-to-date unit sales of Xbox 360 systems climbed to 28 million consoles worldwide. With prices starting at $199, Xbox 360 now offers games, TV shows, and movies to consumers. According to Microsoft, the Xbox LIVE community also grew to over 17 million members. Since the launch of the Xbox 360 three years ago, more than $1 billion has been spent on Xbox LIVE, says Microsoft. Also, According to Microsoft, Xbox 360 is experiencing record-setting sales around the globe, particularly in Japan and Europe, nearly doubling market share in these territories. In Europe, the Middle East and Africa, Xbox 360 has now sold more than 8 million units. Although America is in an economic slump, the rest of the world is not.
Video games are a form of entertainment that generally fares well in slow economic times. True, the industry has never seen an economy this slow(as its just 30 years old, which is after the great depression) but in my opinion they will not be affected. Speaking of the great depression did you know the down-and-out took to the theaters in droves, willing to spend a quarter per person to forget about their troubles for a few hours. People still want to be entertained and to enjoy a diversion from their everyday concerns now more than ever. I will go out on a limb and say the industry will keep growing even faster. In my case, they are a way to get my money problems off of my mind for the few hours I play a night. If I didn't have video games as a young adult living paycheck to paycheck, I would definitely need therapy of some sort lol. What do you guys think?