video game Sales Down 17%, But No Need To Panic

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All in all, a miserable month for video games.

Sales of all video games were down 17% y/y in the US in March to $1.43 billion, according to the latest data from the NPD Group. That’s worse than expected — most analysts were predicting down a few per cent.

But there’s no reason to panic. Last March saw a hit in Super Smash Bros. This year, one expected hit, Grand Theft Auto: Chinatown Wars, went nowhere. Only Capcom’s Resident Evil 5 stood out.

If anything, we’re expecting a rebound. Gamers always want new games to play, but they don’t buy just anything. Since nothing good came out in March, April and May hits may do even better than they would have.

On the console side, more of the same: Nintendo (NTDOY) continues to easily lead with a little less than double the sales of second-place Microsoft (MSFT) Xbox. And Sony’s (SNE) PS3 continues to place third, holding steady at about two-thirds of the Xbox.

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