For the first time in more than a decade, video games are no longer the UK’s biggest entertainment medium.
Video games revenue in the UK reached £4.74 billion, up 2.9% year-on-year, according to ERA, the UK industry body that represents video, music and games retailers. This includes digital and physical video game sales, including PC, mobile, and console.
However, revenue from video-based content rose 10% to £4.9bn, driven by subscription services such as Netflix, Disney Plus and Apple TV. According to ERA, subscription revenue represents 89% of the video market.
In terms of individual products, “Avatar: The Way of the Water” sold 560,000 units, making it the best-selling video title of the year.
This is the first time since 2012 that video games are no longer the number one entertainment medium in the UK.
ERA data combines figures provided by GfK, Official Charts Company, Omdia, and Futursource.
In 2023, music revenue reached £2.2 billion. This is a 9.6% increase over the previous year, and only a fraction of the best year in music history (2001).
Across all three entertainment media, 92% of sales come from digital downloads or streaming.
ERA also shared the performance of various markets compared to pre-COVID-19 pandemic. His 2023 video game revenue in the UK was up 29.2% compared to 2019, with video up 88.3% and music up 38.8%.
Click here to learn more about the UK gaming market performance in 2023.
