Social Networking Cutting Into Video Game Sales?

I find it a bit hard to believe it, but Business 2.0 reports it:
We all know that videogames are chipping away at the time that 18-to-35 year-olds spend watching TV and going to the movies. But could online activities such as hanging out on MySpace, IMing with friends, or just listening to your iPod (offline) be chipping away at the time spent with console-based videogames? Cowen & Co. analyst Lowell Singer seems to think so.
(Found via Amy Jo Kim)
~admin