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Global spending on mobile games falls 5% as high inflation causes market to cool - TL;DR CNBC

Global spending on mobile games falls 5% as high inflation causes market to cool

Publishing timestamp: 2023-01-11 08:00:01


Summary

Consumer spending across app stores totaled $167 billion in 2022, slipping 2% from the previous year. Mobile game spending fell 5% last year to $110 billion due to rising inflation and competition from next-generation gaming consoles. Non-gaming apps proved more resilient, with value of purchases rising 6% year-over-year to $58 billion. First-time app downloads grew 11% to 255 billion, while hours spent in apps climbed 9% to record 4.1 trillion.


Sentiment: NEUTRAL

Tickers: GOOGATVIMSFTTTWOAAPL6758.T-JPMETA

Keywords: alphabet class csocial mediasoftwareinternetalphabet class atake-two interactive software incapple incbusiness newstechnologymicrosoft corpmeta platforms incactivision blizzard incsony group corp

Source: https://www.cnbc.com/2023/01/11/mobile-game-spending-drops-5percent-as-inflation-causes-market-to-cool.html


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