Friday, May 24, 2002
Recession? Don't Tell the Video Game Industry ... "Despite the recession, a prolonged technology slump and Sept. 11, sales of video game hardware, software and accessories increased 43 percent last year, to a record $9.4 billion, according to the market research firm NPD Group. ... Sales of game software alone reached $6.4 billion last year, putting the game industry in striking distance of Hollywood, which had box-office sales of $8.35 billion in 2001. And video game executives predict this year will be even stronger. ... Although Microsoft made an ambitious showing at this year's event, much of the industry is still skeptical that the company will be able to translate the slim technical lead of its Xbox into a major factor in the market. Many game players at this year's show said that although the Xbox appeared to have a slight technical advantage, Microsoft had been able to develop only one or two games that exploit it."