ZNGA - Videogame sales tumble 15% as spending moves on hardware hurdles remain

Videogame industry sales slipped year-over-year for a fifth straight month in March, as the group continues to wrestle with some tough pandemic comparisons and the ongoing challenges at getting hardware into gamers' hands - not to mention the rapid return of rival categories for videogame spending. The drop got steeper as well. Overall sales slid 15% from March 2021, to $4.853 billion, according to NPD Group. The industry numbers had fallen 6% year-over-year in February; January had dipped just 2%; and December sales had fallen just 1% year-over-year. Once again, hard-to-find hardware proved an anvil on sales, though there were broad declines across all categories. Hardware sales fell 24% from the prior March to $515 million. That wrapped up a first quarter where total year-to-date hardware sales were 15% lower at $1.2 billion. Microsoft's (NASDAQ:MSFT) Xbox Series was March's best-selling platform in dollar terms, while the Nintendo Switch (OTCPK:NTDOY) led

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Videogame sales tumble 15% as spending moves on, hardware hurdles remain