S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Media

Video Game Sales Hammered Again In November (TTWO)(ERTS)(SNE)(MSFT)

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

The holiday shopping season and price cuts are not helping video game sales. November figures from industry research firm NPD show sales of software and consoles in the US dropped almost 8% to $2.7 billion.

The Nintendo Wii picked up some of its lost momentum. Its sales figures in October were unusually poor for the market leader. In November, the company sold 1.26 million Wii consoles.

The Microsoft (NASDAQ:MSFT) Xbox 360 sold 819,500 million units followed by the Sony (NYSE:SNE) PS3 at 710,400. Price cuts made by the companies two months ago do not seem to be stimulating demand, but they may have hurt margins.

Software sales were helped by record shipments of the new “Call of Duty Modern Warfare 2” game. But, weak sales and a poor forecast from Take-Two Interactive (NASDAQ:TTWO) and very modest earnings from the top video game company Electronic Arts (NASDAQ:ERTS) highlight the fact that video game sales have not recovered beyond the success of one or two blockbuster games.

This holiday selling season is the only chance that the video game industry has to recover from its worst year in memory and that recovery did not materialize in November.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

Fed’s Rate Freeze Could Sting for Social Security Recipients
Maurie Backman |

Fed’s Rate Freeze Could Sting for Social Security Recipients
'Convert $100,000 a Year to Get Them to the Top of the 22%': The Roth Plan for a Couple With $2.3M in 401(k)s
Jeremy Phillips |

'Convert $100,000 a Year to Get Them to the Top of the 22%': The Roth Plan for a Couple With $2.3M in 401(k)s

Continue Reading

Douglas A. McIntyre |

Video Game Sales Remain Depressed, Wii Loses Ground

Video game sales were down again in June. The introduction of new games and cut in console prices by Microsoft…
Douglas A. McIntyre |

Kinect Cannot Save The Video Game Industry

The Kinect version of Xbox 360 sold eight million units the first 60 days it was on the market. Kinect…
cgblaine22 |

GameStop Kills Video Game Sector Growth Expectations

Shares of video-game retailer GameStop slumped Tuesday after the company unexpectedly reported lower-than-expected holiday sales and cut its guidance for…
Douglas A. McIntyre |

New “Halo” Sales Hit $200 Million On Day One

Sales of Microsoft’s (NASDAQ: MSFT)new “Halo: Reach” video game reached $200 million on the first day it was available. The…
Jon C. Ogg |

Maybe Things Are Not So Bad in Video Game Land After All

A weak forecast from GameStop took down the entire video game sector. But now we have a conflicting report from…
Jon C. Ogg |

Xbox One and PS4 Sales Seriously Muted Over Supply Issues

courtesy of NvidiaMicrosoft Corp. (NASDAQ: MSFT) has answered Sony Corp. (NYSE: SNE) in the video game console wars, sort of.…
Douglas A. McIntyre |

November Xbox 360, PS3, And Wii Sales Go Wild

Sales of video game consoles in the US during November went through the roof. Sales of Sony’s (SNE) PS3 rose…
Douglas A. McIntyre |

The Video Game Recession

The holiday season should be the best part of the year for video game hardware and software makers. But research firm…
Lee Jackson |

Piper Jaffray Top Holiday Season Stocks to Buy from Santa

ThinkstockThe Piper Jaffray consumer research team was given some help from the technology research team and has laid out an…

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618