UK Video Game Market Q1 2023

The UK video game market experienced growth during the first quarter of 2023, primarily driven by strong hardware sales and the successful launch of major software titles. While the overall quarter showed positive momentum, March performance saw a slight year-on-year decline, indicating that the initial growth trend did not sustain through the end of the period.

Market data from GSD and GfK reveals that software sales rose 1% in Q1 2023 compared to the same period in 2022, with nearly eight million units sold. This growth was largely propelled by the performance of Hogwarts Legacy, which emerged as a standout title. Conversely, the hardware sector saw a significant 24.2% increase for the quarter, fueled by the improved availability of the PlayStation 5, which saw sales climb over 180% and accounted for more than half of the market. This surge in Sony hardware helped offset notable declines in Nintendo Switch and Xbox Series S/X sales.

March specifically saw 2.7 million games sold, a 3% decrease compared to the previous year. Resident Evil 4 Remake led the monthly software charts, displacing Hogwarts Legacy. Hardware sales for March also dipped 3% compared to February, though they remained 23% higher than in March 2022. Accessory sales showed mixed results, with a 20% increase over February but a 3.7% decline against March 2022 figures. The data reflects a market heavily influenced by supply chain stabilization for consoles and the release of high-profile software, despite broader fluctuations in monthly consumer demand.