NEW YORK, NY--(Marketwire - Feb 14, 2013) - The video game market underwent a major transformation in 2012 as consumers began to shift away from traditional console games to mobile-based games on their smartphones and tablets. According to data from research firm NPD physical game sales in 2012 declined 22 percent to $8.88 billion, while sales of digital games grew 16 percent to $5.92 billion. Five Star Equities examines the outlook for companies in the Video Game Industry and provides equity research on Activision Blizzard, Inc. (NASDAQ: ATVI) and Take-Two Interactive Software, Inc. (NASDAQ: TTWO).
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Help may be on the way for the struggling video game industry as China Daily recently reported China is considering lifting its ban on game consoles after 13 years. China's video game industry was worth an estimated 60.28 billion Yuan (approx. $10 billion) last year, according to TechWeb's 2012 China Game Industry Report.
"We are reviewing the policy and have conducted some surveys and held discussions with other ministries on the possibility of opening up the game console market," a source within the Chinese Ministry of Culture told China Daily. "However, since the ban was issued by seven ministries more than a decade ago, we will need approval from all parties to lift it."
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Activision Blizzard is a worldwide publisher of online, personal computer, console, handheld, and mobile interactive entertainment products. Shares of the company surged earlier this month after reporting results for the fourth quarter that topped analysts' estimates. Activision Blizzard's results were driven by strong sales of their "Call of Duty" and "Skylanders" franchises, which were the #1 and #3 best-selling franchises in 2012.
Take-Two Interactive Software develops and publishes products through its two wholly-owned labels Rockstar Games and 2K, which publishes its titles under the 2K Games, 2K Sports and 2K Play brands. The company reported net income grew to $71.4 million in the third quarter, compared to a net income of $14.1 million in the year ago quarter. The highly anticipated Grand Theft Auto V is expected to launch on September 17th, 2013.
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