Economy going down the toilet while the nation plays Guitar Hero

The U.S. video-game industry remains on track to achieve a record year of more than $22 billion in revenue, as people are apparently turning to in-home entertainment to weather the shaky economy.

Store sales of video games and consoles in June soared 53% and 54%, respectively, from the same month last year, while revenue from software and accessories rose 61% and 25%, the NPD Group said Thursday. So far this year, retailers have sold $16.6 billion in video games, consoles, and related products, compared with $12.2 billion during the same period a year ago.

“The videogames industry continues to perform in the face of an ever-increasingly difficult economic environment as many turn to more in-home entertainment,” NPD analyst Anita Frazier, said in an e-mailed statement. “Even if growth slows over the back half of 2008, the industry is poised to achieve record-breaking revenues of over $22 billion for the year.” (link)

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