Revenues generated from sales of toys based on video game properties have risen 28 per cent year-on-year.

£77 million was spent on branded toys and merchandise in the UK last year, up from £60 million in 2011, MCV reports.

Data from ToyNews' sister publication also showed that £2.892 billion was spent on video games software, hardware and accessories in the UK in 2012 (including digital downloads).

In comparison, the UK toy market generated £2.94 billion last year - some £50 million more than the video games industry.

Sales of video game peripherals and accessories (including hardware, Skylanders figures and pre-paid game cards), fell 7.7 per cent from £453 million in 2011 to £418 million last year.

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