Analyst: Games Industry Recession Resistant
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October 15th, 2008
In more what-the-analysts-said news, notable industry figure Michael Pachter has noted that the games industry will be recession resistant, considering how tumultuous the stock markets are right now.
"Notwithstanding this month’s anticipated decline, we believe that the videogame software sector remains highly recession-resistant," he wrote in an investors note. "This month’s anticipated decline" is the almost certain year-over-year drop from September 2007, when Halo 3 had its blockbuster release.”
Pachter additionally predicted that September sales will hit $620 million in software – a 6% decline – but will see large increases in hardware sales. He cites the Xbox 360 price cut and increased Wii production to be the cause of this.
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