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Video Games Sales To Top CDs and DVDs
Rosamond Hutt
The Independent
November 5, 2008
Video games are predicted to become the UK's most
popular form of entertainment this year, it was reported
today.
UK consumers are expected to spend £4.64bn on video
games in 2008 - an increase of 42% - with music and
video sales accounting for a total of £4.46bn, analysts
from Verdict Research told the BBC.
According to research, the video games market has more
than doubled in value in the last five years, with the
popularity of new titles such as Grand Theft Auto IV and
FIFA 08 and the Nintendo Wii contributing to the massive
growth.
However, the Entertainment Retailers Association (ERA)
told the BBC the figures may prove misleading because
they include sales of games hardware as well as
software.
Steve Redmond, of the ERA, said: "There is no doubt that
the games sector is having a fantastic year. But these
figures overstate that by including games hardware.
"Our prediction is that games will overtake video by the
end of this year, but not music and video combined."
The ERA's 2007 figures put games software sales at
£1.7bn, and revenues for music at £1.4bn and video at
£2.2bn.
But a shift in consumer behaviour towards buying CDs and
DVDs online means high street retailers are in for tough
times, Verdict Research said.
Digital downloads only make up around 4% of music and
video sales.
Malcolm Pinkerton of Verdict Research told the BBC: "The
music and video market is not just suffering from a
slowing of growth but a massive transfer of spend to
online."
He said high street music retailers such as HMV and
Zavvi were having to adapt to a difficult climate.
"They're cutting back on space in music and
re-allocating it to more lucrative areas such as MP3
players, books, clothing and video games."
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