GME - Videogame sales sink 19% in May to 27-month low

Videogame sales slid to a 27-month low in May, marking its biggest pullback in months after a period relatively devoid of new releases. May's overall sales tumbled 19% to $3.68 billion from a year-ago $4.522 billion, according to NPD Group - with broad declines, but a particularly heavy drop in the largest component, videogame content. That's the lowest total since February 2020, analyst Mat Piscatella noted - just before the arrival of the COVID-19 pandemic provided a giant one-off effect for companies like game makers with a stay-at-home focus. April sales had fallen 8%, providing a brief turnaround in the decline curve (December sales had shown up down 1% from the prior year, while January dipped 2%; February sales slipped 6%; and March fell a full 15%). The lack of new games drove content sales down 19% to $3.332 billion. Hardware sales resumed deceleration, falling 11% to $216 million, and

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Videogame sales sink 19% in May, to 27-month low