Video game sales in China slumped over 10% in 2022, marking the first drop in at least two decades, as economic headwinds, regulatory pressure and sluggish consumer demand continued to weigh on the once-booming industry, reports the South China Morning Post.
The world’s largest video gaming market recorded total revenue of RMB 269.5 billion ($40.1 billion) last year, down 10.3% from 2021, with the number of gamers slipping 0.33% to 664 million, according to a report published last Friday by the Gaming Publishing Committee of the China Audio-Video and Digital Publishing Association, the country’s semi-official gaming industry association.
The decline marks the first drop in game sales in China since figures became available in 2003. The report used data compiled by video gaming analytics firm CNG.