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Australian game revenues surpass $1 billion

The Sydney Morning Herald is reporting that Australian games industry revenues have passed the AUS 1 billion mark

According to the latest market research data, Australian games industry revenues have passed the AUS 1 billion mark.

As reported by The Sydney Morning Herald, market research firm GfK Australia compiled data from major retailers and found that total games industry revenues in the year to June 30, 2007 were AUS 1.03 billion, or USD 847 million, a 15 per cent increase over the prior year. Of this amount, 40 per cent is attributable to hardware and 60 per cent to software.

"Breaking through the $1 billion mark highlights the seriousness and sheer scale of the industry in Australia," said Chris Hanlon, CEO of the Interactive Entertainment Association of Australia.

According to the IEAA, over 5.5 million games and almost half a million consoles have been sold since January 1.

The USD 1.03 billion figure puts the games industry ahead of motion pictures, as Australian box office revenues were only AUS 863,295,000. DVD sales, down 14 per cent, still eclipsed games industry sales, standing at AUS 1.29 billion. The book industry, however, remained the entertainment leader with AUS 1.86 billion in sales.

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