Grand theft sales: Video game industry reports worst drop in nine years

In June, the video game industry posted its largest year-over-year decline since September 2000. Sales of hardware, software, and peripherals dropped to $1.17 billion, a 31 percent drop. This was led by a 38 percent drop in hardware sales; software sales fell 29 percent to $625.8 million. June was the fourth straight month in which sales declined.

The video game industry's current malaise comes from a combination of factors, any one of which would, individually, be fairly easy to overcome. Taken as a whole, however, they have pulled the bottom out from under the industry.