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According to the PricewaterhouseCoopers comprehensive Global Entertainment and Media Outlook report for 2008 on Reuters, the videogame industry should be worth $68 billion by the year 2012.

Console games will continue drive sales, with an expected growth of 6.9 percent from $24.9 billion in 2007 to $34.7 billion in 2012. The report also predicts an increase at a compound annual rate of 6.3 percent, with sales up to $11.7 billion in 2012 from $8.6 billion in 2007 in the US.

Online games, which generated $6.6 billion in 2007, will also grow to $14.4 billion in 2012.

Loads more numbers and graphs through the link.

By Mike Bowden