According to a recent report, US spending on video games continues to increase significantly every year. A collaborative report by the Entertainment Software Association and Circana revealed that US gaming consumers spent a whopping $57.2 billion on gaming in 2023, including expenses on hardware, software, downloadable content, subscriptions, and peripherals. The report also highlighted a noticeable increase in digital-based spending, signaling a shift away from physical software.
The report also unveiled the highest-grossing games in the United States in 2023. Hogwarts Legacy and Call of Duty: Modern Warfare 3 were the best-selling titles on PC and console, while MONOPOLY GO!, Candy Crush Saga, Roblox, and Royal Match dominated the mobile platform.
Spider-Man 2 was one of the best-selling games in the US in 2023
The US gaming market continues to thrive, with consumers spending approximately $1 billion more on gaming in 2023 compared to 2022. The breakdown provided by Circana showed that $48 billion was spent on video game content, $6.6 billion on hardware, and $2.6 billion on peripherals and accessories.
Mat Piscatella, the Executive Director of Video Games at Circana, emphasized that great content is the driving force behind the video game market, and the future looks promising with the expansion of new technologies.
Piscatella’s reference to new technologies likely includes emerging AR and VR-based hardware and devices. Stanley Pierre-Louis, CEO of the Entertainment Software Association, echoed Piscatella’s sentiments, reaffirming the video game industry’s impact on the US economy and its far-reaching cultural influence.
With an estimated 3 billion gamers worldwide and ongoing global growth in spending, the industry faces challenges such as rising development costs, stretched timelines, and financial concerns in both the gaming and esports sectors. Despite these challenges, the esports industry is gaining mainstream popularity and increasing viewership, positioning itself as a growing business.
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