According to a recent CNet article, the video games industry has dropped in sales by 23% over the past year, dropping below the $1 billion mark for the first time since 2007.
The article says that the fault is felt across the board from all aspects of gaming, hardware and software alike.
NPD, the group tracking most vidya-related statistics, pointed out that it was more likely lack of blockbuster games (man, I'm on fire) rather than a weak economy that was bringing the industry low, citing that the top 10 games from last year sold almost one and a third times as many units as the current top-10 list.
NPDs May analysis continues to show a trend in declining sales, which continues from April.