Video Game Industry Overtakes Music Industry In Spending

This year should mark the year in which consumer spending on video games passes what they spend on music. For years, web-journalist types have thrown around the "games are bigger than movies" phrase, which isn't really true unless you only count only box office receipts. This however, is a bit more of an honest touchstone.

The video gaming industry is poised to overtake the music industry in the US, with global spending on video games surpassing music spending as soon as this year, according to consulting firm PricewaterhouseCoopers. PwC released the data in its annual "Global Entertainment and Media Outlook" report covering 2007 through 2011, which outlines expected growth in the entertainment, film, music, and video game industries, among others.

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