ESA: Games outpacing US economy

2007 is shaping up to be a pretty good year for the gaming industry. In September, the NPD Group projected that the gaming industry is on track to haul in more than $18 billion in hardware, software, and accessory sales for 2007, with revenue for the year already up 50 percent year-over-year at that time.

With consumers readily ponying up their hard-earned dollars for the gaming industry's wares, it's no wonder, then, that the industry's growth rate tallied more than 17 percent from 2003 to 2006, reports the Entertainment Software Association today. As the ESA notes, that percentage far outstrips the US economy, which for reasons both far and wide, struggled to 4 percent growth rate over the same period.

Conducted by Economists Incorporated and funded by the ESA, the study concluded that the US gaming industry directly employed more than 24,000 individuals with an average salary of $92,300 in 2006. Indirectly, that number rose to 80,000 people spanning 31 states and totaling $2.2 billion in worker wages. As for its impact on the national economy, the ESA reports that the industry's contribution to the US's total market value was $3.8 billion in 2006.

"Computer and video game companies play an ever increasing role in our nation's growing economy," said ESA CEO Michael Gallagher. "These companies and their colleagues across the nation are making entertainment software one of the fastest growing industries in the United States."

The ESA's report indicates that California plays home to the most gaming-industry professionals at 40 percent, with the second most populated state being Washington. California's gaming industry grew by 12.3 percent in 2006, outpacing the state's overall growth by a rate of nearly three to one. While impressive, that figure pales in comparison to Virginia, which grew at a rate of 552 percent in 2006, more than 172 times faster than the state's overall growth.