The month of February 2023 in the United States saw unprecedented spending on video games. The sales of older games like The Last of Us witnessed a comeback, while more recent games like Hogwarts Legacy and Dead Space sold millions of copies. Nonetheless, games were not the industry’s only contribution to the market, as Circana verified that console sales have also significantly increased.
It was the PlayStation 5, in particular, that broke previous sales records, and it was this console that was responsible for the surge in sales. When it was first made available to the public, the system took a lot of work to track down in stock. Despite this, the availability of the console is becoming ever more widespread. Its newly improved accessibility, as well as the exclusive games it offers, are attracting an increasing number of gamers.
According to Matt Piscatella of Circana, the amount spent on video gaming hardware has increased by 68% compared to the previous year. Only this year, the total amount spent on such hardware has seen a staggering 29% growth. The money has increased significantly, from $687 million to $888 million. According to Piscatella, the sales of the PlayStation 5 were the primary factor in driving this enormous surge. Compared to the same time in 2022, it had the strongest month of sales in both dollars and units during February 2023 and the year-to-date.
The PlayStation 5 not only broke previous hardware records, but it also set new ones. It broke all prior records for sales of PlayStation consoles to become an industry landmark. The PlayStation 5 is already making a name for itself as the game console with the most successful first quarter in the annals of gaming history. This would be in contrast to the consoles that came before the PlayStation 5 and any other gaming system.
Sony’s console sales will likely continue to skyrocket throughout the year due to the possibility of the company developing a Pro version of the PlayStation 5 soon. Will the PlayStation 5 be able to keep its place at the top of the charts?