An annual report issued by Forecasting and Analyzing Digital Entertainment (FADE) estimates that Nintendo's WiiWare and Virtual Console platforms combined for $125 million in revenue in 2009, with Virtual Console edging out WiiWare overall ($66 million and $59 million, respectively) thanks to holiday sales.

However, the report shows that the two services are on divergent trajectories. WiiWare grew 30 percent in 2009 compared to 2008, while Virtual Console declined 25 percent for a 6 percent year-on-year decline overall. FADE attributes the Virtual Console's slide to a weaker and sparser slate of 2009 releases, as well as Nintendo's promotion that gave downloaders of the Internet Channel a free NES game. The promotion resulted in 500,000 free NES game downloads.

As could be expected thanks to their lineup of classics, Nintendo garnered 76 percent of Virtual Console revenue. However, Nintendo only earned 16 percent of WiiWare revenue, showing that WiiWare is a definite money-maker for third parties.

FADE's 2010 projections call for a slight decline on the Virtual Console side offset by healthy gains for WiiWare, with VC earning $60 million and WiiWare earning more than $75 million.

FADE also listed what they estimated to be the top ten downloadable titles in 2009 for Virtual Console and WiiWare. They were:

1. Super Mario Bros. 3 (Nintendo, NES) – $5,000,000 ($5.00)

2. World of Goo (2D Boy, WiiWare) – $4,800,000 ($15.00)

3. Super Mario Bros. (Nintendo, NES) – $3,300,000 ($5.00)

4. Super Mario World (Nintendo, SNES) – $2,900,000 ($8.00)

5. Super Mario 64 (Nintendo, N64) – $2,700,000 ($10.00)

6. Tetris Party (Hudson, WiiWare) – $2,600,000 ($12.00)

7. Legend of Zelda: Ocarina of Time, the (Nintendo, N64) – $2,300,000 ($10.00)

8. Pokémon Rumble (Nintendo, WiiWare) – $2,200,000 ($15.00)

9. Legend of Zelda: Majora’s Mask, the (Nintendo, N64) – $2,100,000 ($10.00)

10. My Pokémon Ranch (Nintendo, WiiWare) – $2,000,000 ($10.00)