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Video Games Are An $8.3B Market

Despite the recession, sales of the PS3, Xbox 360 and Nintendo Wii increased dramatically during the first half.

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PlayStation 3 sales jumped dramatically between May and June -- Sony sold 208,700 PS3s in May and 405,000 PS3s in June, an increase of 94 percent. The game "Metal Gear Solid 4," produced by Konami exclusively for Sony's PlayStation 3, contributed to the dramatic upward surge in PlayStation 3 sales, according to NPD. "Metal Gear Solid 4" was also June's top-selling individual video game.

In June, Xbox 360 sales increased 17.8 percent, with Microsoft selling 219,800 of the consoles.

But apparently there's no stopping the Nintendo juggernaut. Nintendo sold 660,000 Wii consoles in June, down from May sales of 675,100 Wii consoles, but still the best-selling console of the month. Nintendo has sold 10.9 million Wii consoles since its release, making it the best-selling console of its generation, beating out the PS3 and the Xbox 360. "These numbers are mind bogglingly large," said Michael Pachter, a Wedbush Morgan analyst told Reuters. "Clearly we have an expanded demographic, more than just hardcore gamers, and they have an insatiable appetite for video games."

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