According to a new report, it’s been a bit of a rough year for the UK’s video game market.
According to data provided by UKIE, the total worth of the market has dropped for the first time in five years, specifically from £7.82 billion in 2023 to £7.63 billion in 2024. At first sight, the reduction doesn’t seem drastic; however, a closer look at the underlying figures raises some alarm.
Initially, it’s worth mentioning that the traditional market for physical games has been experiencing a significant downturn. Over the past few years, this trend has worsened due to the increasing popularity of digital purchases. In fact, last year, there was a staggering 34% drop compared to the previous year, causing expenditure to hit record lows.
It’s now estimated that boxed game sales account for just 4% of total spending in the UK.
Conversely, it’s worth noting that digital spending rose by 3.5% on gaming consoles, and interestingly, the expenditure in mobile games went up by a significant 8.1%.
Discussing gaming consoles, there has been a notable decrease in hardware sales from one year to the next. In contrast to the sales figures from 2023, we saw a drop of approximately 24% in 2024. There are undoubtedly several factors contributing to this decline, but it’s challenging to ignore the high price tag associated with these consoles during this generation.
According to the UKIE report, they recommend that the British government should increase investments in this sector. The report suggests that while the industry as a whole remains optimistic about its future, it might require additional support to keep pace with industries from other regions.
What’s your take on this report? Were you anticipating those drops? What are your thoughts about what lies ahead? Keep an eager watch for any updates regarding your tangible game collection in the discussion area beneath.
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2025-05-07 22:33