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Video Game Explosion Lives Up to the Hype

Techstination feature for Friday, February 1, 2002

The video game explosion lives up to the hype. Bloomberg Boot Camp... a report on today's technology. The next generation game machines from Sony, Microsoft and Nintendo are infiltrating our family rooms in a big way...

"People just, in the aggregate, will spend more time playing games than they will doing other activities. Watching TV or even going to movies. So we think there's tremendous growth out there and people will just... .they are switching and re-allocating their leisure time."

Stan McKee is the Chief Financial Officer of the number one game maker, Electronic Arts. The company's sales and profits are soaring... as it turns out new titles for all the game machines. Why watch a game on TV... when you can play NBA Live 2002 on the Xbox... (sound) McKee expects the video game business to grow between 20 and 30 percent a year for the next few years... and he says... the console prices will probably start to fall soon...

"We think that sometime this year there will be a price reduction of PlayStation 2 and there will be follow-ons from the other manufacturers."

From the looks of things so far... all three consoles may be able to survive in the expanding market. Talk to people who've bought an Xbox, for instance and you'll see how hard it is to pry one of those controllers out of their hands. Bloomberg Boot Camp... I'm Fred Fishkin.