U.S. gaming industry outpaces U.S. economy

moneybagsThe Entertainment Software Association (ESA) released a new study that shows the U.S. video game industry’s growth outpacing the U.S. economy’s growth as a whole. The video game industry annual growth rate from 2003 to 2006 was 17% while the U.S. economy only grew 4% during the same period.

Here’s a surprising fact; the ESA reported that the U.S. entertainment software industry employs over 24,000 individuals with an average salary of $92,300 in 2006. Holy heck, $92K a year is nothing to shake a stick at; I wonder if this is why console games cost $60.

Other neat facts include:

1. California is the largest employer of computer and video game personnel in the nation by employing 40% of total industry employment nationwide.
2. These companies provided over $1.8 million in direct and indirect compensation to Californians last year.
3. California’s computer and video game industry grew by 12.3% last year, nearly three times faster than the state’s overall growth and added $1.7 billion to the state economy.

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


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Author: GamerNode Staff View all posts by

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