NEW YORK, NY -- (Marketwire) -- 07/20/12 -- It has been a tough year for video game companies as the emergence of mobile gaming on smartphones and tablets has caused traditional video game sales to dwindle. A recent report from the NPD group showed sales of video game hardware, software and accessories declined 29 percent in June. The Paragon Report examines investing opportunities in the Multimedia & Graphics Software Industry and provides equity research on Glu Mobile Inc. (NASDAQ: GLUU) and Take-Two Interactive Software, Inc. (NASDAQ: TTWO).
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Reports from DFC Intelligence, a video game and entertainment industry research firm, predict that by 2017 the worldwide video game market will expand to $82 billion from the $67 billion in 2012. "New console systems from Nintendo, Microsoft and Sony are expected to help the console segment regain some momentum in the 2014 to 2015 timeframe," said DFC Intelligence analyst David Cole. "However, the steadiest area of growth is on the PC and mobile side."
According to the DFC's "Online Game Market Forecasts" online game revenues are estimated to nearly double in 2017 to $35 billion from the $19 billion in 2011. "By 2017 we forecast 39% of console game revenue will be via online distribution and online revenue sources," said Cole.
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Glu Mobile is a leading global developer and publisher of "freemium" games for smartphone and tablet devices. Glu's games are available on a wide range of platforms including iOS, Android, Windows Phone, Google Chrome, and MAC OS. The company recently announced that it will report its financial results for the second quarter ended June 30, 2012 after the U.S. markets close on Tuesday, August 7, 2012.
Take-Two Interactive Software develops and publishes products through its two wholly-owned labels Rockstar Games and 2K, which publishes its titles under the 2K Games, 2K Sports and 2K Play brands. The company is scheduled to report financial results for the first quarter of fiscal year 2013 ended June 30, 2012 after the market close on Tuesday, July 31, 2012.
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