US Consumers Spent $57.2 Billion on Video Game Products in 2023

US Consumers Spent $57.2 Billion on Video Game Products in 2023

Total US spending on video game content, hardware, and accessories grew by 1% year-over-year in 2023, reaching $57.2 billion. That follows a 5% decline in 2022, an 8% rise in 2021, and a 27% rise in 2020, suggesting that the downward slide in growth rates has been arrested for the time being.

The year ended on a strong note, buoyed by an above-average growth rate of 4% during the month of December 2023. With more than $7.9 billion in revenues, December represented almost one-seventh of full-year consumer spend on the industry.

Almost two-thirds of all Americans play video games, making gaming one of the most popular entertainment activities. While spending growth on the gaming industry has slowed in recent years, it managed to tick up slightly last year, according to the latest data compiled by the Entertainment Software Association (ESA) and market research company Circana.

In 2023, the US consumers spent around $1 billion more on gaming than they did in 2022. The split marked by Circana was as follows:

  • $48 billion on video game content
  • $6.6 billion on hardware
  • $2.6 billion on peripherals and accessories

There was a marked increase in digital-based spending across the board, which is further indicative of a transformation leading players away from physical software.

Video game content spending reached almost $48 billion ($47.965) for the year, up by 1% from 2022, and remained easily the largest segment of video game spending. Circana notes that digital premium download spending on consoles was up by 13%.

Video game hardware spending was flat at close to $6.6 billion. PlayStation 5 was the best-selling platform in both units and dollars, and its growth in sales assisted in offsetting declines for both the Xbox Series and Twitch.

Spending on video game accessories was the fastest-riser, though from the smallest base, growing by 4% to $2.64 billion. A 7% increase in sales of Gamepads is credited with driving the segment’s overall growth.

In the breakdown provided by the ESA and Circana, the highest-grossing games in the United States in 2023 were also revealed:

  • On PC and console, the best-selling title was Hogwarts Legacy, closely followed by Call of Duty: Modern Warfare 3, which sat in its typical position near the top of the charts,
  • On mobile platforms, MONOPOLY GO! and Candy Crush Saga sat at the head of the table, followed by Roblox and Royal Match.

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