Check your balance: games to exceed $10 billion in 2008

The US economy may be a bit weak, but it doesn’t look like the game industry will suffer for it. In fact, 2008 may lead us into “the largest, most robust cycle in history,” according to Lazard Capital Markets analyst Colin Sebastian.

Sebastian thinks that game software sales will exceed $10 billion in 2008. He projects that growth will come from the continued demand for both Nintendo consoles as well as improved sales of the PS3. It looks like he thinks that Metal Gear Solid IV, Grand Theft Auto IV and Gran Turismo V will help out a bit.

Why spend too much on a vacation when you could stay home and game? Sebastian thinks that the weakened state of the economy could actually benefit the games industry, as he feels that gaming “an attractive per-hour entertainment value in comparison with other leisure activities, such as movies and vacations.” 

He expects sales of software for PS3, Xbox 360 and Nintendo Wii to grow 34 percent, to $6.4 billion. Additionally, he predicts that the sales of software for PC and handheld systems will also increase 10 to 15 percent, pulling in $3.8 billion.

If he’s right, we’re in for the biggest year of gaming yet. I thought last year was pretty great. Is your pocketbook ready for 2008?

[Via Gamasutra

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