Video game industry growth beats U.S. economy four to one

Posted Nov 28, 2007 at 4:42PM EST by QJ Staff

Listed in: Wii, PS3, PSP, MMORPG, Nintendo DS, Xbox 360, PC Gaming Tags: California, ESA, Virginia

Saying the video game industry is growing faster than the U.S. economy is no understatement, because the Entertainment Software Association's (ESA) latest report shows gaming's growth ran laps around national economy and exceeded its growth four to one.

According to the report by ESA, the video game industry experienced more than 17% annual growth rate from 2003 to 2006. The U.S. economy only saw 4% growth during the same period. Here's the gist of it:

The computer and video game industryÂ’s value added to U.S. Gross Domestic Product (GDP) in 2006 was $3.8 billion;
In 2003-04 and 2005-06, the industryÂ’s contribution to real growth exceeded its share of GDP by more than four to one;
The entertainment software industry directly and indirectly employs more than 80,000 people in 31 states; and,
U.S. industry employees received total compensation of $2.2 billion.

40% of the industry's workforce can be found employed in California. It's also worth noting that Virginia, another major player, saw growth of the video game industry 172 times faster than the commonwealth.

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Video game industry growth beats U.S. economy four to one

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