Video game sales were explosive in 2020. For full-year 2020, video game spending just in the U.S. totaled $56.9 billion – up 27% year over year, according to NPD. From here, video game sales could grow even more with big demand and a massive gaming community. Of the total population of 7.7 billion people in the world, according to Financial Post, it’s estimated that a third of the population are gamers. In addition, even when the pandemic is over, gaming demand is likely to stay strong, which is great news for Enthusiast Gaming Holdings Inc. (TSX:EGLX)(OTCQB: ENGMF), Electronic Arts Inc. (NASDAQ:EA), Activision Blizzard(NASDAQ:ATVI), Netflix Inc. (NASDAQ:NFLX), and Roku Inc. (NASDAQ:ROKU).
According to Mat Piscatella, an analyst for NPD Group, as quoted by Bloomberg, “The long-term impact of the pandemic is the rise of social gaming and the rise of communicating online. Even when we get back to whatever the new normal is, that social stickiness is really hard to shake off. It’s really difficult to say, Hey, the pandemic is easing, people are going out, and they’re not going to play Fortnite. I don’t think that math quite works.”
Better, video game sales show no signs of slowing – at least not any time soon. According to the NPD Group, sales of games, hardware, and accessories hit a record $4.6 billion in February, up 35% year over year. In January, sales reached $4.7 billion, up 42% year over year.