While we all wait for the official 2007 tally from The NPD Group, Wedbush Morgan's Michael Pachter has suggested that 2008 will carry 2007's momentum.
In his latest video game monthly research note, Wedbush Morgan Securities analyst Michael Pachter said that 2008 is expected to get off to a very strong start following an excellent 2007, punctuated by holiday sales.
"We expect industry sales to be strong for the first several months of 2008, with the strong release schedule early in the year sustaining double-digit sales growth," Pachter predicted. "It is important to remember that January 2007 was a five week month, while January 2008 has only four weeks, so the comparison should be adjusted for the calendar shift. This holiday selling season is over, and all signs are that video games were top sellers. We think that once GameStop reports holiday sales (on January 10), video game investors' concerns about the economy will subside, and we expect the U.S. publisher stocks to continue to appreciate."
December sales and 2007 full-year results have not yet been totaled, but every indication suggests that last year was yet another record for the video game industry. The NPD Group has repeatedly estimated that 2007 game industry sales will come near or break the $18 billion mark.
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