The new PlayStation and Xbox consoles are arriving during a “pandemic gold rush”—but can they maintain their growth post-COVID? YPulse found that 46% of 13-39-year-olds playing a new mobile or video game because of quarantines, and gaming console made the top 10 ranking of the items Gen Z and Millennials’ definitely plan to buy for the holidays. According to gaming analytics firm Newzoo, gamers are expected to spend $175 billion on software alone in 2020—up $146 billion from last year. NPD Group reported that in the U.S., gamers spent $33.7 billion across hardware, accessories, and content through September. Ampere Analysis projected that Sony would sell 6.5 million PS5s and Microsoft would sell 6.5 million of the Xbox Series X and Series X through March. While some are wondering if the companies can sustain their growth, gaming experts believe the relationships and bonds they developed during the pandemic will “only strengthen over time.” (NYTimes)
