The size of the industry nearly doubled since 2009

Mar 1, 2012 18:01 GMT  ·  By

A new study from the analysis firm Magid Advisors has estimated that during 2011 the virtual goods created by the video game industry has reached 2.3 billion dollars (1.72 billion Euro), a significant increase over the 1.8 billion dollars (1.35 billion Euro) registered during 2009.

The study includes online games, digital media and spending done on social network, and it says that one in four people between the ages of 15 and 24 have bought at least one virtual good during 2011, which is double the number that did so in 2009.

Those who self-identify themselves as gamers have been those who were most willing to spend money on virtual goods and the study says that the average sum that one customer has used for virtual goods has reached 64 dollars (48 Euro), an increase of 28 percent over 2009.

Mike Vorhaus, who is the president at Magid Advisors, stated, “Purchasing virtual goods is truly becoming a mainstream activity as far as consumer entertainment behaviors are concerned.”