Console game revenues plunged 42% in April vs. a year ago. For the year to date, console hardware sales vs. the same period in 2011 have dropped 15% for Sony, 21% for Microsoft, and 48% for Nintendo. In short, shit just got real.

Annual U.S. game retail could hit six-year low in 2012

"Should the contraction from 2011 continue at this pace, annual U.S. retail video game revenue in 2012 could fall below the $12.6 billion figure from 2006," says Gamasutra analyst Matt Matthews.