Despite Slowdown of Consumer Spending, Games Market Achieves Record £5.1 Billion 

By Evan-Amos (Own work) [Public domain], via Wikimedia Commons

Figures reveal that in 2017, the games market of the United Kingdom improved by 12.4 percent to a record £5.11 billion despite the slowdown in consumer spending and the squeeze on household incomes.

UK Interactive Entertainment (Ukie), a trade body, said that the growth of the games sector, despite the slowdown in consumer spending, revealed that the industry was creating “world-class content for an ever-expanding eager audience.”

With overall sales rising by 8.3 percent to a new high amounting to £3.56 billion, Game software remained to be the largest part of the market.

Sales of digital and online PC and console also experienced a significant rise, increasing by 13.4 percent to £1.6 billion. Physical sales of new software also increased by 3.1 percent to £790 million partly driven by the popularity of the new Nintendo Switch.

The success of sales of new games contributed to a decline in sales of pre-owned software, which is down by 15.1% to £101 million.

Sales of consoles were up by 30 percent as compared to the previous year to £659 million as more players invested in new releases including the PS4 Pro, Xbox One X, and Nintendo Switch while consumers in the United Kingdom spent over £100 million on headsets for the first time.

Jo Twist, the chief executive of Ukie, stated: “It’s been another year of growth for the games industry with UK consumers demonstrating they have a strong appetite for what our innovative and creative sector makes.

“The games sector is constantly innovating and investing in new experiences, technologies and the skilled people to make an even more compelling and diverse range of games, bringing tremendous value for money to consumers year on year.”

The senior client insight director for entertainment of GfK, Dorian Bloch, stated: “With Sony’s PS4 showing four consecutive years of over one million units sold per year, a strong performance from Microsoft’s sub £200 Xbox One S and premium core gamer Xbox One X, plus the introduction of Nintendo’s Switch enjoying the best start for a Nintendo home console since the mighty Wii back in 2006, it is clear that the console gaming market is now enjoying a renaissance.”