COLORADO’S VIDEO GAME INDUSTRY ADDS MILLIONS TO STATE ECONOMY
New Study Highlights Industry’s Growing Economic Impact
AUGUST 10, 2010 – WASHINGTON, DC – Colorado’s entertainment software industry added approximately $52 million to the state’s economy in 2009, according to a new study released today by the Entertainment Software Association (ESA). The study, Video Games in the 21st Century: The 2010 Report, also found that the Colorado game industry has grown by an annual rate of 4.5 percent since 2005, nearly five times the growth of the state’s overall economy. According to the report, entertainment software companies directly and indirectly employ more than 1,400 and provided more than $63 million in direct and indirect compensation in 2009.
“Colorado’s computer and video game companies make an increasingly important contribution to the state’s economy, and play a vital role in maintaining the strength of the entertainment software industry as a whole,” said Michael D. Gallagher, president and CEO of the ESA, the trade association that represents U.S. computer and video game publishers. “These companies and others around the nation are responsible for generating the creative ideas and innovative technologies that continue to expand the many ways computer and video games improve our daily lives.”
The 2009 report is the second such study conducted by Economists Incorporated for the ESA, and provides an updated look at the impact of the entertainment software industry on the U.S. economy. Other findings include:
§ The computer and video game industry added $4.9 billion to the U.S. economy in 2009;
§ The industry’s annual growth rate from 2005 to 2009 exceeded 10 percent, more than seven times the growth rate of the U.S. economy as a whole;
§ The entertainment software industry directly and indirectly employs more than 120,000 people in 34 states; and
§ Direct industry employees earn an average annual compensation of $89,781.
The Entertainment Software Association is the U.S. association dedicated to serving the business and public affairs needs of companies publishing interactive games for video game consoles, handheld devices, personal computers, and the Internet. The ESA offers services to interactive entertainment software publishers including a global anti-piracy program, owning the E3 Expo, business and consumer research, federal and state government relations, First Amendment and intellectual property protection efforts. For more information, please visit www.theESA.com.