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US Video Game Industry Wins Again At $30.4B

The U.S. video game and interactive entertainment industry had some big wins in 2016. Specifically, $30.4 billion in revenue.

That’s according to new research from the Entertainment Software Association (ESA) and the NPD Group. The revenue is a matchup of hardware and software, peripherals, and in-game purchases. And it just keeps growing, according to research.

What did 2015 look like? Last year’s revenue totals hovered at $30.2 billion.

Michael D. Gallagher, president and CEO of the ESA, said in a release that “the industry’s innovative genius and ability to engage and delight billions of gamers worldwide delivered another record performance.”

He congratulated the developers, storytellers, creators and investors who are leading the charge. The industry is considered to one of the fastest-growing economic sectors, not just because of these purchases, but because of the providing tens of thousands of high-paying jobs it provides as well.

As for other data included in the research, according to the ESA, video game software alone grew by 6 percent to $24.5 billion over 2015, which had a total of $23.2 billion. The software category includes physical packaged goods, mobile games, downloadable content and subscriptions.

And virtual reality has had a tremendous growth, due to the shear increase in awareness of the concept right before the holiday rush, and before that, the popularity of Pokemon Go splashed into consumers’ view. Netflix recently added virtual reality (VR) capability, as did a slew of non-entertainment companies like Metlife, Wayfair and even Hormel (with VR bacon) to try to entice customers.

“Growth in entertainment software consumer spend was seen across the mobile, PC, virtual reality, subscription, portable and digital console segments,” Mat Piscatella, industry analyst at the NPD Group, added in the release.

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