Circana has released its July 2024 US roundup, alongside its annual report on the future of gaming.
Its July 2024 findings report a 10% increase in gaming spending compared to the same period in 2023, with a “resurgence in the market reflected across hardware, content and accessories categories.”
- Total video game sales* in July 2023: 4.349 billion dollars
- Total video game sales* in July 2024: $4.773 billion (+10%)
- Total video game sales* from December 30, 2023 to August 3, 2023 to date: $31.45 billion
- Total video game sales* from December 30, 2023 to August 3, 2023 to date: $32.094 billion (+2%)
*projected to the total market
The report also cites EA Sports College Football 25 as “the best-selling game of 2024 to date.”
“This will continue to be a tough year for video game manufacturers and publishers, with spending expected to decline overall, albeit in the single digits,” said Mat Piscatella, video game industry advisor at Circana.
“However, the highly anticipated first-half debut of Nintendo’s next-generation hardware platform should provide a significant boost, as should the launch of Grand Theft Auto 6, which may become the biggest entertainment launch in U.S. history.”
In its Future of Gaming Report, Circana suggests that while 2024 is “proving to be a challenging year for the U.S. video game industry,” it expects a “significant rebound in 2025.”
Circana believes this will happen due to releases like Grand Theft Auto 6 and Nintendo's new Switch hardware, and expects the digital delivery trend to continue.
However, he notes that “everlasting” games like Fortnite, Roblox and Fortnite will continue to dominate players' time.
The report says that gaming hardware revenue is expected to decline in 2024 due to “declines in both average prices and units sold,” though gamers seeking out “more easily accessible platforms such as PC and mobile devices” have “helped offset some of the console-related declines.”
He explicitly cites Valve's Steam Deck as “an exciting and emerging area of gaming hardware.”
“The transition to the new normal in the video game market has not been painless,” Piscatella added.
“However, the long-term outlook remains optimistic, with 2025 in particular offering significant growth potential.”