UK game spending slumps in first half of 2024 while music grows, as release schedule lacks Taylor Swift moment
Fortnight.
UK spending on video games plummeted by 29.4 percent during the first half of this year, while music and video sales grew.
Physical game sales fell by 40 percent to £111.7m compared to the first six months of 2023, while digital download sales fell 23 percent to £236.9m.
The numbers, reported by the Digital Entertainment and Retail Association (ERA), reflect a "soft new release schedule", according to its latest report.
"It was a tough first half for the games business with a lack of heavy-hitting releases, but we are optimistic for a strong second half, the traditional time for blockbuster releases," ERA boss Kim Bayley said.
The first half of 2023 notably included the launch of The Legend of Zelda: Tears of the Kingdom for Nintendo Switch. Compare that to the first six months of this year, and there's nothing of quite the same scale. Final Fantasy 7: Rebirth for PlayStation 5 was perhaps the most notable launch, though sales haven't matched its predecessor.
As Bayley notes, however, a slew of 2024 blockbusters are on the horizon - including Star Wars Outlaws in August, EA Sports FC 25 and The Legend of Zelda: Echoes of Wisdom in September, Call of Duty: Black Ops 6 and Assassin's Creed Shadows in October, plus Dragon Age: The Veilguard.
UK spending on both music (including vinyl, CD and downloads) and video (including DVD, Blu-Ray, digital) both grew over the same period.
Music sales grew by 7.9 percent, driven by Record Store Day and the launch of new Taylor Swift breakup album The Tortured Poets Department, including its lead single Fortnight (nothing to do with Fortnite).
Video sales also grew, despite declining sales for physical media (that sounds familiar!). A drop in DVD and Blu-ray spending was offset by growth in video downloads and digital sales - which does not include money spent on streaming subscriptions to Netflix, Amazon or Disney+.
Still, despite video games' sizable 29.4 percent drop in sales year-on-year, the sector remained far larger than either music or video overall. Total spending on video games from January to June 2024 stood at £348.6m, compared to £213.7m for video and £163.8m for music.