Wedbush Morgan’s Michael Pachter is expecting the US and European videogame markets to record greater annual sales growth than previously predicted, and has revised his yearly forecasts accordingly in a new investor note.
“We have significantly raised our estimates for 2008 videogame software sales growth in the US (to +32% from +19%) and in Europe (to +40% from +20%),” he wrote.
“We expect a +36% dollar sales increase in 2008 for the combined US and European videogame software markets.”
Pachter also noted that year-to-date US software sales are up 39 percent, hardware sales 22 percent and overall industry sales 32 percent.
His revised estimates come off the back of a “strong” July at US retail, which saw console software sales up 41 percent year-over-year, hardware sales up 17 percent, and overall industry sales up 27 percent despite a 16 percent fall in PC game sales, according to NPD figures.
via edge
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