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22.07.26 - 20:51
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Video Game Market Tanks As Studio, Console Stocks Sink ; Can GTA VI Revive Industry? (ZeroHedge)
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Video Game Market Tanks As Studio, Console Stocks Sink ; Can GTA VI Revive Industry?
Video game stocks have been battered so far this year, with Electronic Arts the only major name in positive territory and even then only marginally higher. The Roundhill Video Games ETF is down about 14.8% YTD, highlighting industry-wide weakness as investors await a potential revival sparked by Take-Two's release of Grand Theft Auto VI this upcoming fall.
The latest report from Bloomberg, citing new data from market research company Circana, shows the video game market in the US contracted by 21% in June, its steepest monthly decline since 2022. The decline was driven by higher hardware prices, which softened demand, and by a difficult comparison with Nintendo's Switch 2 launch one year ago.
Console spending plunged 62%, while content purchases fell to $3.9 billion, below levels recorded before the Switch 2 debut. Subscriptions were the only content category to grow. Total industry spending was down 1% for ...
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