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.
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Keywords: alphabet class c, social media, software, internet, alphabet class a, take-two interactive software inc, apple inc, business news, technology, microsoft corp, meta platforms inc, activision blizzard inc, sony group corp,