PS5 sales surpass PS4, Xbox Series X lags

Video game console sales in the United States show mixed results. The PlayStation 5 (PS5) is selling better than the PlayStation 4 (PS4) did, but the Xbox Series X and S are falling short compared to the previous Xbox One. Recent data from Circana reports that PS5 sales exceed PS4's by 7%, while the Xbox Series X and S lag behind the Xbox One by 19%. Microsoft is taking a broader view of its gaming business. The company is focusing on growth areas like PC gaming and its subscription service, Game Pass. They plan to release several Xbox games on rival consoles, including titles like Indiana Jones and Forza Horizon 5. Despite concerns about the Xbox Series X and S performance, Microsoft is developing new hardware. Reports suggest a next-generation Xbox is planned for 2027, along with a handheld device. This new console may function more like a PC and will support third-party stores such as Steam. Console sales overall are declining. Spending on hardware dropped by 25% in February, reaching the lowest amount for that month since 2020. The PS5 was the best-selling console, followed by the Xbox Series. Overall consumer spending in video games fell 6% compared to last year. There is hope for the industry. Analysts believe the upcoming Nintendo Switch 2 and the highly anticipated Grand Theft Auto 6 could revitalize sales. Take-Two’s CEO has suggested that major game releases generally boost console sales.