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The US video game industry is expected to experience revenue declines in 2024, but a new report predicts 2025 will see the business bounce back due in part to Grand Theft Auto VI and Switch 2.
Circana’s Future of Games report, released today, said the video game industry “matured” in 2020 and 2021 as people turned to games to have fun and stay connected with friends and family during the pandemic.
The number of people playing video games and the time spent playing continues to fall behind the all-time highs achieved in 2021, Circana said. The downturn is attributable in part to inflation on everyday items people need to live like groceries, which in turn has left less money available to the average person to spend on gaming, Circana said.
For 2024, video game hardware revenue is expected to …