Recession is that phase of economy where down trend is visible all through. Decline in demand coupled with fall of production and henceforth slowing down of gross domestic product. However one among those rare goods and services which are inelastic to market situations remains modern day version of entertainment irrespective of young or old which are computer games.
Though new kid on the block, games have witnessed many market uncertainties like 2008 which remained as one of a lean year, growth of this new market has been steady. Human nature draws them to any form of entertainment after a weary day and here games scores over a long list of many other means.
If we follow the data we analyze the growth of this industry. Study reveals that sales in US market has increased to around 38% which in absolute count may come round $8.27 billion in the first half of the year surpassing the $6.1 billion revenue of the year 2007. With revenue increasing in leaps and bounds and market share increasing in this pace definitely reveals the importance this industry holds. Infact the game industry as a whole is indifferent to recession can be figured out from the
fact that Technology bubble burst had least impact on it. While Dow Jones Industrial Average declined around 20% while video gaming revenue climbed 43%. After 2007, the industry sales moved up to 50% to all-time high, revenue registered around $18.85 billion. Around the globe, expected revenue exceeds $57 billion in 2008, 35% growth on one year time frame from the 2007 to a record $41.9 billion. With 267 million video games disappearing from stores, it means an average of nine games per second sold out of retail stores across the country last year& even faster in 2008, 40% up in the first half of the year itself. According to PricewaterhouseCoopers LLP global sales will hit $68.3 billion by 2012. That’s a 10.3% annual increase over the next four years.
| Games | Release Dates | Copies Sold in Millions |
| 1. Call of Duty 4 | November 6 ,2007 | 10 |
| 2. Halo 3 | September 23,2007 | 8 |
| 3. Grand Theft Auto 4 | April 29,2008 | 6.5 |
| 4. Mario Kart | April 10,2008 | 6.5 |
| 5. SuperMario Galaxy | November 1,2007 | 6 |
| 6. Super Smash Bros | January 31,2008 | 5 |
| 7. Wii Fit | December 1,2007 | 5 |
| 8. Metal Gear Solid 4 | June 12,2008 | 3 |
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