However, its direct competitor, the PlayStation 5, topped the charts in terms of revenue generated, mostly thanks to its much steeper price point compared to the Switch. Hardware spending in the US grew by 16% in December 2022, reaching $1.5 billion in market value ahead of the holiday season. US consumers spent upwards of $6.6 billion on hardware purchases in 2022 as a whole, which is an 8% growth when compared to the year prior. This is despite the video game market experiencing a contraction instead of growth, with a 5% decline in revenue in 2022 compared to the previous year. Spending on console games made up a big fraction of those $56.6 billion in revenue generated, with $47.5 billion spent in 2022, a 7% difference from 2021 numbers. Mobile games were hit especially hard in 2022, with shooter games, in particular, seeing massive dropoffs in 2022, falling by 26% year-over-year.
— Mat Piscatella (@MatPiscatella) January 17, 2023 Call of Duty: Modern Warfare 2 was the best-selling game of last year in the United States in terms of revenue, with the so-called GOAT, Elden Ring, grabbing the second spot and Madden NFL 2023 placing third on the sales chart. The Nintendo company had a strong performance in this sector as well, with three of its titles placing in the top eleven on this list. The Nintendo Switch exclusive, Pokemon Scarlet and Violet, was the sixth best-selling title of last year, Pokemon Legends: Arceus was eight, and Mario Kart 8 Deluxe barely missed out on the top 10, placing eleventh on this list.
2022 Units: 1) Switch 2) PS5 3) XBS2022 Dollars: 1) PS5 2) Switch 3) XBS — Mat Piscatella (@MatPiscatella) January 17, 2023 The Switch has been the best-selling console in terms of units sold ever since it was released in 2017. A large portion of its success must be attributed to its mobility and huge collection offering of first and third-party games. The ability to play console-quality triple-A titles on the go certainly played a big role in purchasing decisions, especially ahead of the holiday season as the rankings show. Starting at around $300, the base Nintendo Switch is a lot cheaper than the base PlayStation 5 which retails for around $500. With platform-exclusive releases like Splatoon 3 and Xenoblade Chronicles 3, Nintendo managed to maintain sales and keep its winning streak alive. Throw in a few clever marketing tactics, with bundled purchases of Pokemon Scarlet and Violet-inspired OLED Nintendo Switch models, and you have a recipe for success. The game continues to generate huge amounts of interest, and the upcoming update should only make things better. So much so that Nintendo has reportedly canceled plans for the Switch Pro, which proves their confidence in the current console.
