US Video game sales exceeded $17bn in 2007

"Video game sales topped $17 billion last year, according to the NPD Group, making 2007 by far the biggest year in gaming history.
These numbers mark a 43 percent increase year over year, solidifying the games industry's strong lead in growth over movie box office revenue, which totaled $9.7 billion at a 4 percent increase."
Source: Yahoo Games, 22nd January 2008