New report says game spending down in 2011

Wednesday, 29 June 2011 22:55 GMT By Andrew Groen

A new report from industry analysts predicts that consumer video game spending will be down compared to the previous year.

The report was published by a company called Newzoo, and said that industry is headed for a US$21.6 billion year which is down compared to last year.

They also predicted that the game industry is headed for a modest amount of growth in 2012 of about 3%. The increase they say will be due to a stabilized or even declining console market offset by a rapidly expanding handheld, mobile, and social gaming market.

Newzoo has a large infographic available on their website with all of the video gaming financial information you could ever want.

The results are based on three years worth of data from the US National Gamers Surveys.