New PlayStation and Xbox Arrive During a Pandemic Gold Rush

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The video game industry has notched record spending and profit in 2020, but to sustain its growth, it must prepare to compete with the return of concerts, movie theaters and live sports. Gamers worldwide are expected to spend a record $175 billion on software alone in 2020, according to Newzoo, a gaming analytics firm, up from $146 billion a year ago. In the United States, gamers spent $33.7 billion across hardware, accessories and content through September, according to the NPD Group. And Piers Harding-Rolls, a research director at Ampere Analysis, an analytics firm in London, projected that Sony would sell 8.5 million PS5s and Microsoft would sell 6.5 million of the Xbox Series X and the smaller, cheaper Series S through March.


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