Is the consumer attention span getting longer? In recent years, shoppers have been waiting longer to replace their smartphones and cars. That trend is spreading to game console makers too: Ageing consoles, which traditionally meant a consistent decline in game company revenues, are still going strong for the likes of Sony and Nintendo. New developments in the industry will mean a further boost for the Japanese game companies.
Historically, the lifespan of a gaming console was roughly five years. The Nintendo Switch is now in its eighth year while Sony’s latest PlayStation is turning five years old. Just around the time when gaming hardware makers would see a sharp decline in sales, Sony’s profits rose 68 per cent and beat expectations in the latest quarter, with profit from its games business tripling in the quarter.
