Gaming Euro Growth up 40% in 2008 analysts say

Wedbush Morgan’s Michael Pachter is expecting the US and European videogame markets to record greater annual sales growth than previously predicted, and has revised his yearly forecasts accordingly in a new investor note.

“We have significantly raised our estimates for 2008 videogame software sales growth in the US (to +32% from +19%) and in Europe (to +40% from +20%),” he wrote.

“We expect a +36% dollar sales increase in 2008 for the combined US and European videogame software markets.”

Pachter also noted that year-to-date US software sales are up 39 percent, hardware sales 22 percent and overall industry sales 32 percent.

His revised estimates come off the back of a “strong” July at US retail, which saw console software sales up 41 percent year-over-year, hardware sales up 17 percent, and overall industry sales up 27 percent despite a 16 percent fall in PC game sales, according to NPD figures.

via edge

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