PS4 and Xbox One Expected to Sell 3.1 Million Units This Holiay Season

The PS4 and Xbox One are expected to sell 3.1 million units combined this holiday season as figures have them selling more than music and film.

Sony's console will sell 1.8 million, while Microsoft will sell around 1.3 million, according to the Entertainment Retailer's Association.

MCV reports that it is highly unlikely there will even be 3.1 million video game units to go around due to the high demand of the consoles, however.

"The drama and excitement generated by PS4 and Xbox One look set to produce the sales boost retailers have been crying out for," said ERA's director Kim Bayley.

Video games in the U.S. saw their first increase in two years when gaming products accounted for $521 million, giving it a raise of 1 percent in a four-week span.

The numbers are expected to rise significantly once the Xbox One and PS4 debut in November, people are still buying games even though they may be saving up for the next generation systems. This is a good sign for an industry that has been slumping the last few years because of the growing popularity of smart phone and tablet games along with indie free-to-play games.

NPD industry tracker said video game hardware and software sales had fallen every month since January 2012 until this past August.

"The recent industry sales figures are more a reflection of typical late console cycle dynamics than the momentum of this medium," said Activision Blizzard's Publishing Chief Executive Eric Hirshberg to Reuters.

In 2012, video games made $63.4 billion globally. PricewaterhouseCoopers expects that number to jump to $86.9 billion in 2017.

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