New versions of two major video game consoles will significantly ramp up TV marketing spend in the coming holiday period -- Sony’s PlayStation and Microsoft XBox.
Sony PlayStation 5 is projected to sell 5 million in unit sales in 2020, with XBox Series X at 3.7 million, according to CNBC data from IDC. Global game console revenues are estimated to hit $54 billion this year.
Over the last six months, Sony PlayStation continues to outspend competitors in major national TV advertising -- $75.7 million from mid-May through mid-November of this year, according to iSpot.tv.
The Nintendo Switch platform was next at $31.4 million in national TV spend, with Xbox at $10.3 million.
Xbox is delaying the new version of its popular Halo game until next year.
A year ago, over the same time period, PlayStation was at $60 million in national TV spend, followed by Xbox at $40.3 million and Nintendo with $19.7 million.
Overall national TV ad spend for video games, consoles and services during this six-month period was at $151 million for hardware, (software) games and services versus $155 million for the same time period a year ago.
The launches of new consoles comes amid sharply higher at-home entertainment due to the COVID-19 pandemic.