UK video game sales have fallen almost 30 percent in the first half of 2024.
According to ERA – the UK trade body representing digital services and retailers offering music, video, and games – music revenue was up 7.9 percent year-on-year (YoY), “significantly outpacing” video and games, which saw a 5.4 percent rise and a 29.4 percent fall YoY respectively.
Video games still continue to make more revenue overall, however, generating £348.6m despite the significant year-on-year drop.
ERA reports that physical games software sales were £111.7m down 40 percent when compared to the same period in 2023, and digital downloads down 23 percent to £236.9m, which it opines is as a result of “a soft new release schedule”.
While music’s £163.8m is inclusive of vinyl, CD, and download sales, it excludes revenue from streaming platforms like Spotify, which also saw a 11 percent boost YoY.
Video generates £213.7m, despite a 4.7 percent decline in DVD and Blu-ray sales, although that number does not include video streaming services such as Netflix.
“This is a striking result for music, driven most notably by Taylor Swift and Record Store Day,” said ERA CEO Kim Bayley.
“It was clear back in April the impact they have had on the vinyl sector, but they seem to have lifted the market as a whole too.
“It was a tough first half for the games business with a lack of heavy-hitting releases, but we are optimistic for a strong second half, the traditional time for blockbuster releases.”