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- Video Games spending in the US for 2024 was almost $60 billion, slightly beating the revenue generated from movies & TV shows.
- 83% of US households use a gaming device.
- The industry is only expected to grow from here with the release of Switch 2 this year and GTA 6 the following year.
Despite the negative news we have been learning about the video game industry in recent times, the industry is steadily growing and is now considered the largest entertainment medium.
As the most significant driver of revenue, video games generate more money than any other entertainment medium. In 2024, video game spending reached a whopping $59.3 billion within the US, underscoring the industry’s significant growth.
Why it matters: Video Games are the fastest-growing industry and globally, generating an estimated $455 billion worldwide in 2024. The US is potentially the biggest driver in this regard, accounting for slightly over 13% of that total revenue.
This information comes from a report by the Entertainment Software Association, revealing that $51.3 billion out of the total $59.3 billion spent was solely on game content, which includes full game purchases, DLC, and in-game transactions.
These figures are larger than those of movies and TV shows, which amounted to $57.17 billion in spending within the US for the same year.
Spending for hardware was $4.9 billion, and accessories came down to $3.2 billion. Hardware sales have stagnated, but expect growth next year now that the Switch 2 has been released.
Surprisingly, 83% of the households in the US used at least one gaming device. From a population of almost 340 million people in the country, 205.1 million Americans play video games regularly.
Video games are also being used to discover new movies & TV shows, given the recent rise of live-action adaptations of video games.
The numbers will only increase from here, and 2026 will potentially be the biggest year for gaming. With the massive release of GTA 6, everything from hardware to software sales will see a considerable spike.
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[News Reporter]
Shaheer is currently pursuing a Business degree while also working as a part-time Content Writer. With his deep passion for both writing and video games, he has seamlessly transitioned into a role as a Journalist. Over the past two years, Shaheer has contributed as a freelancer to various websites and landed positions on acclaimed platforms like Gamerant. Currently, his role at Tech4gamers is as a Features Writer, but he also covers News occasionally. Shaheer’s favorite gaming franchises are Assassin’s Creed and the God of War series.
Get In Touch: shaheer@tech4gamers.com
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