We aren’t enlightened economists, but is the video game industry really recession proof? With the economy at its current state, it would be hard to believe otherwise. However, economists have begged to differ that while certain areas of the economy may be hurting, others will make up for the difference. Can this really be true? Well law behold, that is the nature behind economics and also the nature behind the physics that govern our world – for every action there is an equal and positive reaction. Although one may think this may certainly be the case, it isn’t such an exact science. Economists and business leaders have also reported the economy as a whole to be shrinking. Technically, the economy has shrunk a few percentage points across the board, which means less buying, less selling, and less business being done both domestically and globally.
The Video Game industry is one of those unique industries that hasn’t been following the standard rules. While the economy has been both shrinking and not performing well, mainly attributed to the over-hedging and over-betting and overly-grown national debt our government has incurred, there seems to have been a strong light that has been keeping American strong. The entertainment industry is truly a gem of the American culture. While other nations from across the globe have continued to compete with our education systems, health-care systems, and financial systems, our entertainment industry remains one that will probably be unrivaled for its’ eternity.
As a strong argument for all this, the numbers and math speak for themselves. With less money in their pockets to spend, consumers are sure to take less vacations, go out for less dinners, and probably save more than usual. The consumers marginal propensity to consume has declined overall, although growth has been สมัคร แทงบอล แจกฟรี seen across the entertainment industry ranging from music to movies to books to video games. Why may this be so? As more people are staying home during the weekends (for the aforementioned reasons) they are definitely more inclined to sit him and cook dinner, watch a movie, and play some video games with some friends and family. The creation of the Nintendo Wii, plenty of hot new release titles, and a tenacious amount of online gaming have quickly allowed itself to flourish.
In recent news, several of the big video game companies are reporting healthy profits. Just this morning, GameStop has announced that it’s Q3 profit has increased 12%.
Sales rose 8.2 percent to $1.83 billion – beating analysts’ estimate of $1.73 billion – from $1.7 billion a year ago.
Those games include Electronic Arts’ “Madden NFL 10,” Microsoft’s “Halo 3: ODST,” Warner Home Video Games’ “Batman: Arkham Asylum,” 2K Sports’ “NBA 2K10″ and Nintendo’s “Wii Sports Resort.”
GameStop CEO Daniel DeMatteo said Activision’s “Call of Duty: Modern Warfare 2″ sold more than 2.5 million copies worldwide in its first 72 hours of release.
As we all could have expected, Call of Duty: Modern Warfare 2 has done phenomenal during the past two weeks since its’ release. Earning an astounding $310 million dollars its first week of launch, this puts it at a record for any form of entertainment. Yes folks, you heard right. A video game, not a movie, song or book has earned more than Call of Duty has during its opening week. Of course some of this may be attributed to the rampant selling of the Prestige Edition of the game, which included lots of cool extra and of course the Night Vision goggle, as this sold for $150 compared to the normal $59 for the game itself.