Analyzing the Decline: November 2025 Video Game Sales Report
November 2025 saw a significant decline in video game sales in the U.S., marking the worst November in terms of hardware unit sales and physical software dollar sales since 1995. According to Circana's report, the overall spending in the industry dropped by 4% year-over-year to $5.9 billion, with hardware sales experiencing a substantial 27% decline to $695 million, the lowest since 2005.
The decline in hardware sales was reflected across various platforms, with Xbox Series sales down by 70% year-over-year, PS5 sales dropping over 40%, and combined Nintendo Switch and Nintendo Switch 2 unit sales decreasing by over 10% compared to the previous year. The average price per unit for video game hardware reached an all-time high of $439 in November, up 11% from the previous year.
Despite the overall decline in hardware sales, the NEX Playground emerged as the third best-selling hardware in November by unit sales, surpassing the Xbox Series. While subscription spending and mobile content saw growth, physical software sales dropped by 14% year-over-year to the lowest level since 1995. Call of Duty: Black Ops 7 topped the charts as the best-selling game in November, continuing the franchise's streak of successful launches.
Accessories spending also saw a decline of 13% year-over-year, contributing to the overall downturn in the industry. The industry analyst, Mat Piscatella, highlighted the possibility of consumers waiting for better deals closer to the holidays or economic factors influencing gaming purchases. The full-year results for December will provide more insights into the industry's performance and whether the decline in November was a temporary anomaly or indicative of a larger trend.