Video Game Revenues On-Par with Movie Industry!

[Taowolf51]

Video Games Explode: Global Revenues Now on Par with Box Office
Video game software sales are finally matching up with the entire film industry at the global box office. Analyst Daniel Ernst forecasts global game revenues to grow even higher this year.

In a new report from Hudson Square Research on the outlook for the 2009 fiscal year in the video game sector, analyst Daniel Ernst notes that the video game industry's recent surge has finally allowed it to catch up to the movie business on a global basis.

For the fiscal year ended this March, global video game (software) revenues grew 38 percent. Global software sales reached $26.5 billion, only slightly behind the film industry's $26.7 billion.

"Gutenberg's press supplanted the oral story, the television supplanted the radio, the Internet is supplanting the newspaper, and the DVR is supplanting the network schedule. Consumers are increasingly in control of their media experience - narrowing in on what they consume, where they consume it, and when they consume it. We see interactive entertainment (video games) as an extension of that control, where the protagonist, settings, and outcomes are dictated not by the author or screenwriter, but by the players themselves," noted Ernst.

He added, "While the film industry's set of home movie windows provides another leg of growth equal to or greater than box office sales, we believe the rise of video games to the same revenue stature provides a notable perspective."

Over the current 2009 fiscal year, Ernst anticipates global software revenues to climb another 31 percent to $34.6 billion. Hardware revenue, on the other hand, will see a slight (five percent) decline to $18.9 billion.

KICK ASS!
Games will soon pass the movie industry! This is incredible!
Please add to front page!

[Fartinyourmouth]

I would add to front page, but this is a Crysis Site The News has to do with Crysis (as said by Kres )

Though awesome information! Really glad the Video Game industry is jumping ahead

[elemenohpee]

Thats crazy...
360 has a huge impact on this!

[TheFrictionGuy]

Unfortunatley, they dont count digital distribution. Adding that would mean we've already passed the movie industry. Huraah for cumulative interest!

[David]

It has been added to the front page.

This was inevitable, I'm glad it finally became a reality!

[tolgapaksoy]

Games win.

[Scar]

Lookout Hollywood

[Taowolf51]

Unfortunatley, they dont count digital distribution. Adding that would mean we've already passed the movie industry. Huraah for cumulative interest!

Hey! Your right!

It has been added to the front page.

This was inevitable, I'm glad it finally became a reality!

Yeah, oh and thanks.

EDIT: What's interesting, is that this doesn't include hardware sales, just software sales. So when you think about it, there is even more money in it, and also, all those people who just got Wiis for Wii sports aren't included in this either, as Wii Sports is free.
Honestly, I think Hollywood deserves to get their ass handed to them by the games industry. All the overpayed actors who are ruining their lives for NO reason, and complaining about EVERYTHING need to get a f**king wake-up call.
Also, I hope this hits home for them, and makes movie companies start making actual good movies. Over the last few years, the quantity of good movies per year has gone down quite a bit. But at the same time, the quantity of of good games per year has gone up, mostly from big companies getting a clue, and realizing that better games make them more money.