Oz Online Video Game Spending Hits $4bn: Industry Seeks Tax Deal
Consumer spending on online video games is continuing to soar, jumping 25 per cent to $4.03 billion in 2018, according to the Interactive Games and Entertainment Association (IGEA).
Physical retail sales generated $1.18 billion, while overall digital sales hit $2.85 billion last year, posting an increase of 39 percent, according to the IGEA report, published yesterday. Highlights include:
In-game digital purchasing grew “a staggering” 190 percent, with digital full game revenue rising 71pc;
Mobile sales were up 11 percent, while physical retail sales totalled $1.18 million, up just 0.2 percent;
The retail arena was bolstered by console accessories sales, up 18.7 percent.
“The excitement for video games is continuing to grow, with phenomenal consumer sales in 2018,” said IGEA CEO Ron Curry.
Curry also took the opportunity to recycle earlier pleas for the Federal Government to support the industry via refundable tax offsets.