PS5 sales exceed PS4 in the U.S. market

In the U.S., video game console sales show a mixed picture. The PlayStation 5 (PS5) is outperforming the PlayStation 4 (PS4), while the Xbox Series X and S are falling behind the Xbox One in sales. Recent data from Circana reveals that after 52 months of their release, PS5 sales have exceeded PS4 sales by 7%. However, the combined sales of Xbox Series X and S lag 19% behind Xbox One. Sony's strong sales come without a price cut, while Microsoft has admitted to struggling in the competitive console market. To diversify its gaming business, Microsoft is focusing on other areas like PC gaming and its subscription service, Game Pass. The company is also planning to release more games on rival consoles. Upcoming titles such as Indiana Jones and Forza Horizon 5 will soon be available on PS5. Despite speculation about Microsoft's future with consoles, reports suggest a next-gen Xbox is set for release in 2027. This new console will reportedly be more like a PC and will allow access to various third-party storefronts. While PS5 remains the top-selling console, overall video game hardware sales are down. February sales fell 25% compared to last year, reaching $256 million, the lowest total since February 2020. Spending on video game hardware, content, and accessories dropped to $4.5 billion, down 6% from a year earlier. However, there is optimism for a rebound. Analysts predict that the upcoming Nintendo Switch 2 and the anticipated release of Grand Theft Auto 6 could drive console sales up later this year. Previous big game releases have historically boosted console sales, and expectations for these titles are high.