Pachter: Game Industry Recession Proof
October 14th, 2008, 11:26 pm by James Fudge (No Comments)
Analyst Michael Pachter, who some believe is the second coming, says that that the interactive entertainment is pretty much recession proof. Is the video game industry bullet proof when it comes to our lagging economy? The Wedbush Morgan Securities analyst thinks that, while there might be a slight decline in the sector for Sept., it will nonetheless be pretty darn profitable. But Pachter attributes this mostly to not having a killer app like Halo 3 to bolster software and hardware sales - at least for Microsoft and not the state of the economy or consumer confidence.
So what are his predictions for the Sept. numbers coming this Thursday from NPD? Sales will be down six percent to $620 million, compared to Sept. 2007 numbers due to no killer apps like Halo 3 - he says that if you ignore the Halo 3 effect, the numbers would show an increase of 44 percent. Other predictions include 600,000 Wii sales, 550,000 DS sales, around 300,000 Xbox 360 sales, PS3 sales of 175,000 and PSP sales of 200,000.