Microsoft will host an Xbox Games Showcase later this month, during which it is widely expected to unveil games for its upcoming video game console.
This season marks another shift in console hardware, with both Microsoft and Sony introducing new consoles. Last month, Sony offered the first look at the PlayStation 5, as well as some of the new games landing on the device at launch and beyond.
The consoles will inject new excitement into the video game space, but also arrives during a global coronavirus pandemic, which has lead to business closures and unprecedented unemployment levels. However, as more people remain at home due to the pandemic, they are discovering or renewing interest in video games. In May, video game spending totaled $977 million, a 52% increase from a year ago, reports NPD Group.
Piers Harding-Rolls, a games industry analyst at research firm Ampere Analysis, projects 4.6 million PS5 consoles and 3.3 million Xbox Series X consoles will be sold by the end of the year. Prices for both consoles have yet to be revealed.
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