US Gaming Industry Sees 6% Increase in February Spending, Driven by Hardware and Hogwarts

Following a modest decline in January, the US gaming industry witnessed a modest increase in February, according to the latest monthly data from Circana, formerly known as the NPD Group. The total spending on games reached $4.6 billion, representing a 6% year-over-year increase. Software and content spending amounted to $3.9 billion, with a 1% rise, while hardware spending soared to $495 million, marking a 68% increase. Accessories spending also saw a 13% rise, reaching $212 million. In the year-to-date analysis, total gaming spending stood at $8.9 billion, remaining flat compared to the previous year. Software and content spending declined by 2% to $7.7 billion, whereas hardware spending jumped 29% to $888 million. Accessories spending experienced a 1% decline, totaling $377 million. The most notable growth was observed in console hardware spending, which surged 68% year-over-year, achieving the highest February total since 2009. The PlayStation 5 was the primary driver of this growth, leading the month in both dollar sales and unit sales. On the content front, spending on console, PC, and subscription-based games increased sufficiently to offset the decline in the mobile market. The newly released Hogwarts Legacy emerged as the best-selling game of the month, with a wide enough margin to also become the top-selling game of 2023 in the first two months. It was joined by six other new releases, including Wild Hearts, Like a Dragon: Ishin!, Octopath Traveler 2, Kirby's Return to Dream Land, Company of Heroes 3, and Theatrhythm: Final Bar Line. The premiere of the HBO series The Last of Us also seemed to boost interest in the game series, with The Last of Us: Part 1 rising from 11th to 6th place in February, and The Last of Us: Part 2 jumping from 41st to 18th. In the mobile gaming sector, midcore games faced significant challenges, although popular mobile shooters managed to maintain stability since the beginning of the year, following a difficult 2022. Casino and sports mobile games demonstrated more stability, with the former category experiencing a year-over-year increase in spending in February. The top 20 best-selling games from January 29 to February 25 are listed below, based on data from NPD: