Decline in Expenditure for Gaming Gear and Accessories in the United States in June 2024
A recent report from Circana has unveiled a 5% decrease in spending on video game equipment, materials, and add-ons in June 2024 compared to the same period in 2023. Despite this downturn, the total revenue generated was still a substantial $4.6 billion for the month. The first six months of the fiscal year showed a modest 1% rise in expenses compared to the previous year, resulting in a total income of $27.3 billion.
Within the realm of content spending, June saw a 2% reduction, accumulating profits of $4.1 billion. Interestingly, mobile gaming content spending experienced a notable 12% growth, alongside a 4% uptick in non-mobile subscription content expenditure such as Xbox Game Pass. Nevertheless, a significant 26% decline in console content spending offset these increases.
Top-selling games in June 2024 included titles like Elden Ring, Call of Duty: Modern Warfare III, Hogwarts Legacy, and the unexpectedly successful Kingdom Hearts: Integrum Masterpiece. Kingdom Hearts’ surge to the third spot in rankings was particularly remarkable, likely fueled by its recent availability on Steam after being exclusively accessible on the Switch through Cloud saves.
When looking at the most played games on PlayStation in June, several free-to-play games like Roblox, Multiversus, and Fortnite dominated the charts. However, paid games such as Elden Ring and Grand Theft Auto V also managed to secure spots in the top ten most played titles during the month.
Despite a substantial 37% drop in video game hardware spending during June, the Nintendo Switch experienced the most significant decline at 48%, followed by the PlayStation 5 at 28%, and the Xbox series at 18% over the first six months of the year.
Despite facing a decline, the PlayStation 5 emerged as the best-selling console among the three, leading both in unit and dollar sales for the month. The Nintendo Switch claimed the second spot in unit sales, with the Xbox Series following closely behind in dollar sales.
In essence, the spending trends in June 2024 were slightly less favorable compared to the previous year, but there are still positive indicators for the market. Titles like Shadow of the Erdtree have helped elevate Elden Ring, while Roblox continues to attract a wide demographic, potentially fueling further growth in the mobile gaming sector.
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