US Console Market Faces Worst Downturn Since 1980s
The US console market is facing a period of significant instability. According to market research firm Circana, the current situation is the most precarious since the early 1980s. In response to declining sales and rising costs, Microsoft has reaffirmed its commitment to making consoles a core pillar of its next-generation Xbox strategy.
Mat Piscatella, Executive Director at Circana, reports a sharp decline in hardware sales across the board. Through August, Xbox hardware sales in the US fell 33% year-over-year, reaching their lowest level since tracking began. PlayStation sales also saw a 25% decline, hitting their lowest point since 2013.
Rising costs are a major contributing factor to this trend. During the same period, the average selling price of an Xbox in the US rose 26% to $529, while PlayStation prices increased by 20% to $597. Piscatella emphasized that price sensitivity is becoming a critical issue for consumers.
Amidst this market uncertainty, Microsoft is doubling down on its hardware roots. During an internal town hall, CEO Asha Sharma outlined a strategy built on four pillars: Core, Content, Creation, and Connection. Sharma noted that while the console market itself is not currently growing, Microsoft must invest heavily in this area, stating that supporting core console users is essential for the company's ability to expand its business further.
The next-generation hardware, referred to as Project Helix, will be central to this vision. Asha Sharma revealed that the 10th-generation Xbox will not be a single product, but a
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