February Hardware Sales
PS2: 363,000 [+7% over January sales]
Xbox: 204,000 [+6%]
GCN: 137,000 [+5%]
GBA: 353,000 [+18%]
Cumulative Installed Base
PS2: 22,958,000
Xbox: 8,187,000
GCN: 7,133,000
GBA: 20,601,000
Tie Ratios
PS2: 8.10
Xbox: 6.58
GCN: 6.09
GBA: 3.42
US Top 20 Videogame Titles
(Ranked in $$$, not units)
1 GCN FINAL FANTASY CRYSTAL CHRONICLE Nintendo $11,912,520 243,380
2 PS2 NFL STREET Electronic Arts $8,360,043 167,935
3 PS2 NEED FOR SPEED: UNDERGROUND Electronic Arts $5,813,065 120,155
4 PS2 BOND 007: EVERYTHING OR NOTHING Electronic Arts $5,747,493 115,944
5 PS2 CHAMPS OF NORRATH:REALMS Sony $5,048,062 101,684
6 PS2 MAFIA Take 2 Interactive $4,407,365 88,473
7 XBX BOND 007: EVERYTHING OR NOTHING Electronic Arts $4,373,694 88,038
8 GBA M ETROID ZERO MISSION Nintendo $4,364,623 151,807
9 PS2 SONIC HEROES Sega $4,185,546 84,098
10 PS2 JET LI: RISE TO HONOR Sony $4,151,180 104,084
11 GCN MARIO KART : DOUBLE Nintendo $3,973,327 81,233
12 GCN SONIC HEROES Sega $3,752,389 76,506
13 PS2 MADDEN NFL 2004 Electronic Arts $3,355,022 69,684
14 PS2 BALDURS GATE:ALLIANCE II Vivendi $3,158,646 65,234
15 PS2 TRUE CRIME: STREETS OF LA Activision $3,112,333 65,472
Source: CSFB/Wedbush Morgan estimates based on NPD Funworld data.
February Videogame Sales Results
• Overall videogame software sales were up 5.4% year over year for the month of February. 128-bit software sales were up 5.6% year over year, and GBA software sales were up 50% y/y. 128-bit hardware sales were down 6% y/y in February as the $179 price point is stretched further, bringing the install base of 128-bit consoles to 38.3 million in the U.S. GBA hardware sales grew 25% y/y, bringing the install base to 20.6M in the U.S.
• Electronic Arts (ERTS, $47.25, OUTPERFORM, TP $60.00, OW) U.S. videogame sales were stronger than expected for the month of February, up 35% versus last year due to the strength of NFL Street, Bond: Everything or Nothing and Need for Speed: Underground. For the quarter to date, U.S. sales are up 28%, versus overall revenue growth of 22.5% for the March quarter.
• Activision, Inc. (ATVI, $20.12, OUTPERFORM [V], TP $22.00, OW) U.S. sales increased 26% year over year for the month of February, due to the continued strength of True Crime: Streets of LA and THUG. For the quarter to date, U.S. sales are up 31%, versus overall flat revenue growth for the March quarter.
• THQ, Inc. (THQI, $17.77, OUTPERFORM [V], TP $22.00, OW) U.S. sales increased 19% year over year in February driven by WWE Here Comes The Pain, Tak & the Power of JuJu and Spongebob SquarePants: Battle for Bikini Bottom. For the quarter to date, U.S. sales are up 17%, versus overall revenue growth of 39% for the March quarter.
• For Take Two Interactive (TTWO, $32.00, OUTPERFORM [V], TP $50.00, OW) sales in February were up 29% y/y. The company’s Grand Theft Auto Double Pack continues to sell well with over 260,000 units sold in the quarter between the PS2 and Xbox versions. Midway Games, Inc. (MWY, $6.50, UNDERPERFORM [V], TP $1.50, OW) U.S. sales in the month of February were down 50% year over year.
Rank
1 PS2 PS2 NFL STREET 167,935
2 PS2 PS2 NEED SPEED: UNDERGRND 120,155
3 PS2 PS2 BOND 007: EVERYTHING 115,944
4 PS2 PS2 JET LI: RISE TO HONOR 104,084
5 PS2 PS2 CHAMPS NORRATH:REALMS 101,684
6 PS2 PS2 MAFIA 88,473
7 PS2 PS2 SONIC HEROES 84,098
8 PS2 PS2 ONLINE PACK 80,512
9 PS2 PS2 MADDEN NFL 2004 69,684
10 PS2 PS2 MX UNLEASHED 65,683
11 PS2 PS2 TRUE CRIME:STREETS LA 65,472
12 PS2 PS2 BALDURS GATE:ALLNC II 65,234
13 PS2 PS2 SOCOM II: NAVY SEALS 60,121
14 PS2 PS2 NBA LIVE 2004 57,497
15 PS2 PS2 DRAGONBALL Z:BUDOKAI2 47,841
Rank GCN GCN FINAL FANTASY CRYSTAL 243,380
1 GCN GCN MARIO KART: DOUBLE 81,233
2 GCN GCN SONIC HEROES 76,506
3 GCN GCN BOND 007: EVERYTHING 42,264
4 GCN GCN SUPER SMASH BRO MELEE 40,174
5 GCN GCN MARIO PARTY 5 35,399
6 GCN GCN NFL STREET 32,618
7 GCN GCN LUIGI'S MANSION 31,057
8 GCN GCN SUPER MONKEY BALL 30,954
9 GCN GCN SUPER MARIO SUNSHINE 27,317
10 GCN GCN PAC-MAN PLAYER'S BND 20,612
11 GCN GCN NEED SPEED: UNDERGRND 19,760
12 GCN GCN YU-GI-OH! FALSEBOUND 18,310
13 GCN GCN DRAGONBALL Z: BUDOKAI 17,480
14 GCN GCN NAMCO MUSEUM 15,992
15 GCN GCN SW:ROGUE SQUADRON III 15,266
Rank GBA GBA METROID ZERO MISSION 151,807
1 GBA GBA MARIO BROS 3: MARIO 4 71,991
2 GBA GBA YU-GI-OH! TRNMNT 2004 61,061
3 GBA GBA POKEMON RUBY 54,016
4 GBA GBA POKEMON SAPPHIRE 50,472
5 GBA GBA TEENAGE MUTANT TURTLE 40,489
6 GBA GBA SONIC BATTLE 38,275
7 GBA GBA DONKEY KONG COUNTRY 33,866
8 GBA GBA YU-GI-OH! SACRED CARD 30,665
9 GBA GBA SUPER MARIO ADVANCE 2 29,658
10 GBA GBA SONIC ADVANCE 2 28,183
11 GBA GBA CRASH BAND2:N-TRANCED 28,045
12 GBA GBA NAMCO MUSEUM 27,592
13 GBA GBA QUAD DESERT FURY 27,473
14 GBA GBA SPONGEBOB: BATTLE 27,366
15 GBA GBA CRASH BANDICOOT: HUGE 27,304
Rank
1 XBX XBX HALO 88,979
2 XBX XBX BOND 007: EVERYTHING 88,038
3 XBX XBX NFL STREET 61,618
4 XBX XBX GRAND THEFT AUTO PACK 60,143
5 XBX XBX UNREAL II: AWAKENING 43,790
6 XBX XBX NEED SPEED: UNDERGRND 43,089
7 XBX XBX T. CLANCY'S RAINBOW 3 38,004
8 XBX XBX SONIC HEROES 36,544
9 XBX XBX BALDURS GATE:ALLNC II 36,500
10 XBX XBX MX UNLEASHED 30,360
11 XBX XBX BRUTE FORCE 28,007
12 XBX XBX TRUE CRIME:STREETS LA 26,721
13 XBX XBX MECH ASSAULT 25,365
14 XBX XBX MEDAL HONOR FRONTLINE 24,773
15 XBX XBX T.CLANCY'S SPLINTER 24,303
PS2: 363,000 [+7% over January sales]
Xbox: 204,000 [+6%]
GCN: 137,000 [+5%]
GBA: 353,000 [+18%]
Cumulative Installed Base
PS2: 22,958,000
Xbox: 8,187,000
GCN: 7,133,000
GBA: 20,601,000
Tie Ratios
PS2: 8.10
Xbox: 6.58
GCN: 6.09
GBA: 3.42
US Top 20 Videogame Titles
(Ranked in $$$, not units)
1 GCN FINAL FANTASY CRYSTAL CHRONICLE Nintendo $11,912,520 243,380
2 PS2 NFL STREET Electronic Arts $8,360,043 167,935
3 PS2 NEED FOR SPEED: UNDERGROUND Electronic Arts $5,813,065 120,155
4 PS2 BOND 007: EVERYTHING OR NOTHING Electronic Arts $5,747,493 115,944
5 PS2 CHAMPS OF NORRATH:REALMS Sony $5,048,062 101,684
6 PS2 MAFIA Take 2 Interactive $4,407,365 88,473
7 XBX BOND 007: EVERYTHING OR NOTHING Electronic Arts $4,373,694 88,038
8 GBA M ETROID ZERO MISSION Nintendo $4,364,623 151,807
9 PS2 SONIC HEROES Sega $4,185,546 84,098
10 PS2 JET LI: RISE TO HONOR Sony $4,151,180 104,084
11 GCN MARIO KART : DOUBLE Nintendo $3,973,327 81,233
12 GCN SONIC HEROES Sega $3,752,389 76,506
13 PS2 MADDEN NFL 2004 Electronic Arts $3,355,022 69,684
14 PS2 BALDURS GATE:ALLIANCE II Vivendi $3,158,646 65,234
15 PS2 TRUE CRIME: STREETS OF LA Activision $3,112,333 65,472
Source: CSFB/Wedbush Morgan estimates based on NPD Funworld data.
February Videogame Sales Results
• Overall videogame software sales were up 5.4% year over year for the month of February. 128-bit software sales were up 5.6% year over year, and GBA software sales were up 50% y/y. 128-bit hardware sales were down 6% y/y in February as the $179 price point is stretched further, bringing the install base of 128-bit consoles to 38.3 million in the U.S. GBA hardware sales grew 25% y/y, bringing the install base to 20.6M in the U.S.
• Electronic Arts (ERTS, $47.25, OUTPERFORM, TP $60.00, OW) U.S. videogame sales were stronger than expected for the month of February, up 35% versus last year due to the strength of NFL Street, Bond: Everything or Nothing and Need for Speed: Underground. For the quarter to date, U.S. sales are up 28%, versus overall revenue growth of 22.5% for the March quarter.
• Activision, Inc. (ATVI, $20.12, OUTPERFORM [V], TP $22.00, OW) U.S. sales increased 26% year over year for the month of February, due to the continued strength of True Crime: Streets of LA and THUG. For the quarter to date, U.S. sales are up 31%, versus overall flat revenue growth for the March quarter.
• THQ, Inc. (THQI, $17.77, OUTPERFORM [V], TP $22.00, OW) U.S. sales increased 19% year over year in February driven by WWE Here Comes The Pain, Tak & the Power of JuJu and Spongebob SquarePants: Battle for Bikini Bottom. For the quarter to date, U.S. sales are up 17%, versus overall revenue growth of 39% for the March quarter.
• For Take Two Interactive (TTWO, $32.00, OUTPERFORM [V], TP $50.00, OW) sales in February were up 29% y/y. The company’s Grand Theft Auto Double Pack continues to sell well with over 260,000 units sold in the quarter between the PS2 and Xbox versions. Midway Games, Inc. (MWY, $6.50, UNDERPERFORM [V], TP $1.50, OW) U.S. sales in the month of February were down 50% year over year.
Rank
1 PS2 PS2 NFL STREET 167,935
2 PS2 PS2 NEED SPEED: UNDERGRND 120,155
3 PS2 PS2 BOND 007: EVERYTHING 115,944
4 PS2 PS2 JET LI: RISE TO HONOR 104,084
5 PS2 PS2 CHAMPS NORRATH:REALMS 101,684
6 PS2 PS2 MAFIA 88,473
7 PS2 PS2 SONIC HEROES 84,098
8 PS2 PS2 ONLINE PACK 80,512
9 PS2 PS2 MADDEN NFL 2004 69,684
10 PS2 PS2 MX UNLEASHED 65,683
11 PS2 PS2 TRUE CRIME:STREETS LA 65,472
12 PS2 PS2 BALDURS GATE:ALLNC II 65,234
13 PS2 PS2 SOCOM II: NAVY SEALS 60,121
14 PS2 PS2 NBA LIVE 2004 57,497
15 PS2 PS2 DRAGONBALL Z:BUDOKAI2 47,841
Rank GCN GCN FINAL FANTASY CRYSTAL 243,380
1 GCN GCN MARIO KART: DOUBLE 81,233
2 GCN GCN SONIC HEROES 76,506
3 GCN GCN BOND 007: EVERYTHING 42,264
4 GCN GCN SUPER SMASH BRO MELEE 40,174
5 GCN GCN MARIO PARTY 5 35,399
6 GCN GCN NFL STREET 32,618
7 GCN GCN LUIGI'S MANSION 31,057
8 GCN GCN SUPER MONKEY BALL 30,954
9 GCN GCN SUPER MARIO SUNSHINE 27,317
10 GCN GCN PAC-MAN PLAYER'S BND 20,612
11 GCN GCN NEED SPEED: UNDERGRND 19,760
12 GCN GCN YU-GI-OH! FALSEBOUND 18,310
13 GCN GCN DRAGONBALL Z: BUDOKAI 17,480
14 GCN GCN NAMCO MUSEUM 15,992
15 GCN GCN SW:ROGUE SQUADRON III 15,266
Rank GBA GBA METROID ZERO MISSION 151,807
1 GBA GBA MARIO BROS 3: MARIO 4 71,991
2 GBA GBA YU-GI-OH! TRNMNT 2004 61,061
3 GBA GBA POKEMON RUBY 54,016
4 GBA GBA POKEMON SAPPHIRE 50,472
5 GBA GBA TEENAGE MUTANT TURTLE 40,489
6 GBA GBA SONIC BATTLE 38,275
7 GBA GBA DONKEY KONG COUNTRY 33,866
8 GBA GBA YU-GI-OH! SACRED CARD 30,665
9 GBA GBA SUPER MARIO ADVANCE 2 29,658
10 GBA GBA SONIC ADVANCE 2 28,183
11 GBA GBA CRASH BAND2:N-TRANCED 28,045
12 GBA GBA NAMCO MUSEUM 27,592
13 GBA GBA QUAD DESERT FURY 27,473
14 GBA GBA SPONGEBOB: BATTLE 27,366
15 GBA GBA CRASH BANDICOOT: HUGE 27,304
Rank
1 XBX XBX HALO 88,979
2 XBX XBX BOND 007: EVERYTHING 88,038
3 XBX XBX NFL STREET 61,618
4 XBX XBX GRAND THEFT AUTO PACK 60,143
5 XBX XBX UNREAL II: AWAKENING 43,790
6 XBX XBX NEED SPEED: UNDERGRND 43,089
7 XBX XBX T. CLANCY'S RAINBOW 3 38,004
8 XBX XBX SONIC HEROES 36,544
9 XBX XBX BALDURS GATE:ALLNC II 36,500
10 XBX XBX MX UNLEASHED 30,360
11 XBX XBX BRUTE FORCE 28,007
12 XBX XBX TRUE CRIME:STREETS LA 26,721
13 XBX XBX MECH ASSAULT 25,365
14 XBX XBX MEDAL HONOR FRONTLINE 24,773
15 XBX XBX T.CLANCY'S SPLINTER 24,303