Not a great time to be in the traditional video game biz. Revenues were down 20% in February compared to a year ago, this after January saw a 34% plunge year-over-year. Granted, a drop of 20% is better than a drop of 34% but that’s sort of like saying that your house isn’t AS on fire as it used to be. One uptick was sales of the PlayStation Vita, which is actually outperforming what was expected of it in terms of sales. The industry is hoping for improved sales in March, which would be the first full month of Vita sales.

There are probably a lot of people holding out hope for the holidays when the WiiU goes on sale and will likely be a very hot item under the Festivus pole. By then we may have also heard news on a new Xbox, which is probably not far away. But by and large, mobile gaming and casual gaming are soaring while traditional big consoles and high priced games are plummeting.