On the heels of high February sales numbers, Reuters is reporting that the game industry is actually thriving during the economic recession (so long as you don't work for the game industry, anyway). The article notes that the games market has expanded, largely thanks to the Nintendo Wii, which has brought an influx of female gamers. Reuters states -- as have others -- that many consumers are turning to home entertainment in the current economic environment. Analysts expect the industry to continue growing, with IDC's Billy Pidgeon expecting double digit growth in 2009, though he adds that gamers "will consider purchases more carefully" given the recession.
Analysts expect the recession to have other effects on the game industry as well. Interpret's Michael Cai expects used games and budget titles to take up a more significant share of sales this year. Wedbush Morgan analyst Michael Pachter, unsurprisingly, expects hardware manufacturers to cut the price of their consoles. We're assuming he wasn't referring to the PS2.
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