'Console Games' Become a 1 Trillion Market, Prime Time Once Again

[Asia Economy Reporter Kang Nahum] The console game market, which had been sluggish due to online and mobile games, is experiencing a second golden age thanks to Nintendo Switch, PlayStation 4, Xbox, and others. The home console 'Nintendo Switch' has surpassed cumulative sales of 100 million units, and the domestic console game market has exceeded 1 trillion won, showing a steep growth trend.

◆ Nintendo Switch, 100 million units in 4 years = According to the industry on the 4th, the cumulative sales of Nintendo's console device 'Switch' have been counted at 100.354 million units. It surpassed the sales record of 101.63 million units of the discontinued 'Nintendo Wii.' Nintendo analyzed that the surge in demand for home consoles due to the COVID-19 pandemic was a driving factor behind the strong sales of the Switch.

Not only Nintendo, but the demand for console devices has increased, leading to continued shortages. Sony's 'PlayStation 5' has been on the market for over a year but is still sold through first-come, first-served reservations due to supply shortages. In the secondhand market, it is being sold at prices 300,000 to 400,000 won higher than the official price (628,000 won).

Global competition to secure console games is also intensifying. Microsoft (MS) recently executed a mega M&A by acquiring Blizzard for about $68.7 billion (approximately 82 trillion won) in all cash. MS plans to offer Activision Blizzard games within its console game service 'Xbox Game Pass' in the future. Blizzard's representative titles include 'Diablo,' 'Call of Duty,' 'StarCraft,' 'World of Warcraft,' 'Overwatch,' 'Hearthstone,' and 'Guitar Hero.' Competitor Sony also countered by acquiring the American game developer 'Bungie,' known for developing the Halo and Destiny series, for $3.6 billion (approximately 4.36 trillion won).

◆ Korean console market aiming for 2 trillion won = The growth of the domestic console market is also accelerating. According to the Korea Creative Content Agency, the domestic console market size last year was 1.2815 trillion won, surpassing the 1 trillion won mark for the first time. It is expected to grow to 1.4955 trillion won this year and 1.8364 trillion won next year. A representative from the agency analyzed, "While the distribution markets such as PC bangs and arcade game centers are slowing down due to business restrictions caused by the COVID-19 pandemic, the game production and distribution market centered on console games is expected to continue growing."

Domestic game companies are also focusing on their capabilities in console game production. Not only large game companies like the 3N (NCSoft, Nexon, Netmarble) but also small and medium-sized game companies are focusing on platform diversification. Pearl Abyss's new title 'Dokkaebi,' prepared targeting the console game market, has attracted attention by being selected as the most anticipated game of the year at China's largest game site 17173's 'Gameplay Awards.'

Line Games released its self-developed console package title 'Buried Stars' in 2020 through 'PlayStation 4' and 'Nintendo Switch,' showcasing a game business that covers various platforms including mobile, PC, and console. The small and medium-sized game company Nesysamsimsam (4:33) recently announced plans to release eight new titles including NFT games, aiming to diversify platforms such as consoles and enter the global market.

This content was produced with the assistance of AI translation services.