Video game hardware sales in the United States have collapsed to their lowest November level in three decades, according to new market data, casting a shadow over the industry's crucial holiday season.
A Superficial Chart Topper Masks Deeper Problems
The latest figures from industry tracker Circana reveal a complex and worrying picture for the sector. On the surface, Call of Duty: Black Ops 7 secured the number one spot in the US software sales chart for November 2025, marking the 18th consecutive year a Call of Duty title has led in its launch month.
However, this headline victory belies a significant slump. Developed by Treyarch and Raven Software, Black Ops 7 launched on November 14, 2025 into a fiercely competitive market. It faced stiff competition from Electronic Arts' Battlefield 6 and the well-received Arc Raiders, both released earlier in the year.
Analyst Mat Piscatella of Circana reported that the new Call of Duty suffered a 'double-digit percentage' decline in dollar sales compared to Black Ops 6 in November 2024. Consequently, Black Ops 7 debuted as only the seventh best-selling game of 2025 to date, a notably low position for the franchise.
Hardware Sales Plummet Amidst a Spending Shift
The situation is even more stark on the hardware front. Total console unit sales for November reached just 1.6 million, generating $695 million (£519 million) in consumer spending. This represents a dramatic 27% drop from November 2024 and is the worst November performance since 1995.
The PlayStation 5 was the month's best-selling console by dollar sales, buoyed by significant Black Friday discounts. Despite this boost, its sales were still down 40% year-over-year. The Nintendo Switch 2, which launched in June 2025 as the fastest-selling console ever, ranked second. However, combined sales of the Switch and Switch 2 fell by over 10% compared to Switch sales alone in November the previous year.
Perhaps most alarming was the performance of the Xbox Series X/S, which saw a staggering 70% decline in year-over-year dollar sales for November, ranking third.
Battlefield Triumphs and a Challenging Future
The software landscape shows a notable shift in power. Battlefield 6 is currently the best-selling game of 2025, demonstrating a successful incursion into Call of Duty's traditional audience. The rest of the year's top sellers include familiar sports titles and major sequels:
- NBA 2K26
- Monster Hunter Wilds
- Borderlands 4
- EA Sports College Football 26
- Madden NFL 26
While overall content spending grew marginally by 1% to $4.8 billion, driven by subscriptions and mobile, physical software sales fell 14% for the worst November since 1995.
The broader implications are significant. The console sales downturn, potentially influenced by the high cost of living reducing Christmas gift spending, poses serious questions for the future. The deep discounting of the PlayStation 5 Digital Edition, which was nearly half the price of a Switch 2 in November, likely disrupted the market further.
This environment sets a worrying precedent for the next generation of consoles, the PlayStation 6 and next Xbox, which are expected to carry even higher price tags upon their release in the coming years.
