Global Games

Market Report
2023 | Free Version
Updated May 2024

©2024 Newzoo
Copyright & Redistribution Notice

©2024 Newzoo. All rights reserved.

The content of this report is created with due care by Newzoo and protected by copyrights. This report, or
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Contents

01 Foreword 4

02 Methodology & Terminology 7

03 The Global Games Market 16

04 Key Trends 25

05 Special Focus Topics 35

06 Game Delivery & Monetization 39

07 Game Genres in 2023 42

08 The Games Market per Region & Country 46

09 About Newzoo 48

10 Upgrade to the Full Report 50

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 01
Foreword
Foreword
We proudly present the free edition of this year’s New to this year’s report is how we break down
Global Games Market Report, the flagship report of revenues per monetization model. Publishers are
Newzoo’s Games Market Reports & Forecasts. This experimenting with various monetization strategies
preview version of the report provides a glimpse across every gaming segment, and we can now split
into the exciting world of gaming in 2023 and in-game revenues into DLC, microtransaction, and
beyond. in-game subscription revenue on PC and console.

Overarchingly, 2023 will be an exciting year for the We also continue to expand our player numbers cov-
global games market. The number of players will erage per gaming ecosystem. We first introduced
surpass 3.3 billion, with more paying gamers also our Steam player estimates in the January Update to
entering the fold. Moreover, the market will cover seven of today’s largest gaming ecosystems.
generate a staggering $183.9 billion, which is an Now, we have expanded our coverage to include
achievement given the many macroeconomic forecasts for 2023.
factors at play. After the market swerved in a
This preview version of the Global Games Market
corrective direction in 2022 following the
Report 2023 will unpack these topics and more. In
pandemic, 2023 will see the market grow once
the complete edition of the report, we dive far deeper
again.
into the console and PC live-services boom, the pros
Many highly anticipated delayed titles launched and cons of generative AI in game development, com-
in 2023, with more scheduled for release in H2, the plementary gaming device trends, the state of VR
supply of new consoles has finally caught up to (and extended reality), and specific games markets
demand, and console publishers kept embracing making waves across the world.
live-service strategies to ensure stable growth. In
All the data in this report is downloadable and availa-
parallel, mobile publishers continue to deal with
ble using the Report Data Tools on Newzoo’s Platform.
privacy-related monetization and user-acquisition
You can access the full report via our Games Market
challenges stemming from Apple and Google’s new
Reports & Forecasts.
policies. Every year sees gaming become
more mainstream, and this year is no exception. Thank you for joining us for an exploration of the
Since our first report, we’ve said that gaming is global games market in 2023. We hope you enjoy
at the heart of the entertainment industry, and it’s reading this report as much as we enjoyed creating it.
never been as easy to back up this claim as it is
now. Gaming’s impact will go beyond the
number of players and revenue generated within
Tom Wijman
the scope of the industry. Transmedia
strategies have showcased the power of games Lead Games Analyst
tom@newzoo.com
as a business, and that trend is only accelerating.

Alongside a comprehensive overview of the

global games market, this report includes special
focus topics and key trends. In the first special focus
topic, we use our data to gauge the performance of
gaming’s most significant transmedia experiments,
including prominent examples like The Super Mario
Bros. Movie and HBO’s The Last of Us. In the second
topic, we look at significant trends within the
esports and live-streaming markets and provide
insights for developers and publishers interested in
games as spectacle.
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Contributors
Analysis Marketing

Frank Chen Lester Isaac Simon

Jr. Market Analyst Sr. Writer & Editor

Michiel Buijsman Rae-Woo Koh

Sr. Market Analyst Sr. Graphic Designer

Michael Wagner Spyros Georgiou

Sr. Market Analyst Lead Visual Designer

Rhys Elliott Danjing Zhou

Market Analyst & Writer Sr. Digital Marketing Manager

Tiago Reis
Market Analyst

Tianyi Gu
Market Lead Telecom & Mobile Services

Tomofumi Kuzuhara
Market Analyst

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 02
Methodology &
Terminology
Full report structure
This free report offers a preview of the complete version of 2023’s Global Games Market Report. The complete
report offers over 150 pages of data and insights.

To get access to our full annual report, you must subscribe to our Games Market Reports and Forecasts.

Three updated PDFs launching in October 2023, January 2024, and May 2024.

Access to all metrics via the Newzoo Platform, a downloadable Excel data set, and our Report Data Tools.

A weekly Analyst Feed , reporting on the latest d evelopments in the global market with takes from our
market analyst team.

Access to many more unique insights through our platform.

The data in the premium report was last updated in May 2024.

Report release timeline​

Global Games Market Report 2023

July 2023 October 2023 January 2024 May 2024

Annual Report Update Update Update

150-page PDF 30-50 page PDF 30-50 page PDF 30-50 page PDF

+ Key Metrics Players and Payers + Game Revenue + Global Trends + Game Revenue

+ Key Metrics Game Revenues + Forecast Revision + Special Focus Topics + Forecast Revision
(based on H1 2023 results) (based on FY 2023 results)
+ Global Trends

+ Special Focus Topics

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Methodology
Sizing the market with a variety of data

Newzoo aims to provide clients with the best possible assessment of the size of the overall games
market, broken down into segments and regions. By developing many data points, we ensure that our
numbers make sense on a segment, regional, and individual country/market level. Below, we describe our
approach in more detail to help clients understand what underpins our forecasts, facilitating comparisons with
other data sources.

At the highest level, Newzoo focuses on three key metrics for every market: players, payers, and revenues.
We define a market as a country or geographic region in combination with one or more game segment(s).

The data on players and payers is mainly based on our primary consumer research, the Global Gamer Study,
which continues to form the basis of our detailed understanding of consumers and games. More than 74,000
respondents across 36 key countries/markets* were invited to be interviewed. The age range covered is 10
to 65 for all markets except Chile, China, Colombia, Egypt, India, Indonesia, Malaysia, the Philippines, Saudi
Arabia, Singapore, South Africa, Taiwan, Thailand, Turkey, the United Arab Emirates, and Vietnam, for which
the focus age range is 10 to 50.

Results are nationally representative in developed markets with high internet penetration. Meanwhile, in
Latin America, India, emerging Southeast Asian markets (not Singapore and Taiwan), and the Middle Eastern
and African markets, the results are representative of active internet users living in residential developed
areas. Furthermore, in China, the data is representative of active internet users living in developed residential
areas of cities defined as tiers 1-2.

The player and payer ratios from the Global Gamer Study are projected against the online population, using
UN population and ITU internet penetration metrics. The logic behind the model is that the online population
is an important driver of the number of potential gamers and an indicator of how much more structural
growth a country/market can expect in its potential gamer population.

The differences between the player and payer numbers in the Global Games Market Report and the
Global Gamer Study stem from the use of age boundaries and the use of the residential developed (i.e.,
focusing on the residential developed areas) approach for certain markets. In the Global Games Market
Report, the total population is considered, while in the study, we focus on those between the ages of 10 and
50 or 65, depending on the market.

The revenue data comes from our predictive games market model, which uses a top-down approach to
market sizing. We incorporate macroeconomic and census data from the IMF and UN, such as household
income and GDP per capita, transactional and app store revenue data from our data partners Airnow Data
and Apptopia, our primary consumer research, partner data, detailed financial information reported by more
than 140 public companies, and third-party research. We also receive valuable input from clients, often
leading international game companies.

Market size estimates and growth forecasts for individual segments, countries, and in aggregate for the total
industry are validated against our analysis of various contextual metrics. For instance, our market model
calcu-lates the average annual spend per paying gamer, which is then compared with historic numbers, other
regions, household income, and GDP per capita. In years up to 2022, our historical revenues and growth
rates reflect the year-end US$ exchange rate. From 2022 onwards, to better represent consumer spending
per market, we used the US$ exchange rate at the end of each quarter, as it was more representative of
revenues (in $ value) earned by game companies operating in the global market. Our projected growth rates
assume steady exchange rates Back to contents 9
going forward. Still, we take into consideration historical growth rates in the local currency rather than US$, as
this gives a better picture of underlying growth.

We define revenues as the amount the industry generates in consumer spending on games: physical and digital
full-game copies, in-game spending, and subscription services like PlayStation Plus and Xbox Game Pass.
Mobile revenues include paid downloads and in-game spending on all stores, including third-party stores, and
from direct downloads. Genre definitions are aligned with the definitions used in our Newzoo Games Taxono-
my, which is described in more detail here.

Our revenue numbers exclude taxes, consumer-to-consumer second-hand trade, advertising revenues earned
in and around games, (peripheral) hardware, business-to-business services, and the traditionally regulated
online gambling and betting industry (e.g., BWIN and William Hill).

In terms of countries and regions, we define the market size as the amount companies generate from
con-sumers in that specific territory, as opposed to the amount companies based in a particular territory
generate worldwide.

The broader conceptual framework supporting our forecasts consists of the expected growth of the online
population plus the expected development of the Key Market Indicators per region, as illustrated below. Overall,
our forecasts are always the outcome of an iterative process, reviewing the implications of our assumptions
on a very granular level. During this process, we rely on quantifiable metrics, such as historical growth rates,
and include hard-to-quantify metrics, such as (gaming) culture, spending behavior, and other societal factors.
At the minimum, player and payer forecasts are reviewed twice per year, the results of which are shared in our
Q1 Quarterly Update and the Annual Report. Revenue forecasts are reviewed after each quarter, the results of
which are shared in our periodic updates.

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Global games market report methodology

Global Financial Company Analysis

Game revenues of public and non-public companies

Primary Consumer Research in Key Countries

Understanding playing and spending behavior

Local Data Validation

With commercial companies in specific countries

Population & Economic Census Data

Projecting organic growth on a local and global scale

Partner Data
Actual download, revenue, and playtime data

Third-Party Research
Reported on a local and global scale

Global games market model

Share of paying players (%)

Players(#) Payers (#) Money (#)

Avg. Spend/paying player ($)

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Terminology
Key metrics
Players All people who play (digital) games on a PC, console, mobile device, or cloud gaming service in the
past six months.

Payers All people who have spent money to play games on a PC, console, mobile device, or cloud gaming
service in the past six months.

Game revenues Consumer revenues generated by companies in the global games market, excluding hard-
ware sales, tax, business-to-business services, and online gambling and betting revenues.

Active VR hardware install base Consumer VR headsets capable of 6DoF positional tracking and being
used at least once in the past 12 months. We exclude enterprise headsets that can also be used to play VR
games and head sets that use only 3DoF tracking; for example, all smartphone-based VR head sets such as
Samsung Gear VR and entry-level standalone headsets such as Oculus Go.

Android App Stores Players Those who played mobile games at least once in the past six months on an
Android device.

Apple App Store Players Those who played mobile games at least once in the past six months on an iOS
device.

Augmented reality (AR) A technology that supplements real-life views of users with computer-generated
sensory input as images or sounds.

Big spenders Payers that spend an average of $25 per month or more on gaming content per platform on
PC, mobile, or console.

Browser PC games Games played on casual game websites or social networks.

Cloud gaming or game streaming The ability to play a game on any device without owning the physical
hardware required to process it or needing a local copy of the game itself. Also called game streaming, the
games are processed remotely on cloud or edge servers and streamed directly to a user’s device.

Compound annual growth rate (CAGR) The constant growth rate over a period of years. In this report,
all CAGRs are based on the years 2021-2026.

Console games Games played on a TV screen directly or through a console, such as Xbox, PlayStation, and
Nintendo, or on handheld devices, such as a Nintendo DS or PS Vita. Does not include handheld PC devices.

Degrees of freedom (DoF) The number of directions of users’ positional tracking in VR, which relies on
built-in or external sensors to capture movement. While 3DoF tracking only measures three types of direction-
al rotation (rolling, pitching, and yawing), 6DoF adds three further directional movements (elevating, strafing
and surging).

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DLC revenues Revenue generated from download able content (DLC) consumer spend . Downloadable
content is purchased from a digital store directly, not via in-game currency.

Downloaded/Boxed PC games PC games download ed from websites or services (i.e., Steam or Epic
Games Store) or purchased as a boxed product (CD/DVD), including client MMO and MOBA games.

Epic Games Store players We define Epic Games Store players as those PC players who have played or
downloaded games using the Epic Games launcher at least once during a given year.

Esports enthusiasts People who watch professional esports content more than once a month.

Esports Competitive gaming at a professional level and in an organized format (a tournament or league) with
a specific goal (i.e., winning a champion title or prize money) and a clear distinction between players and teams
that are competing against each other.

Free-to-play (F2P games Games that are (legally) free to download and play, very often offering in-game
spending opportunities.

Full Game Boxed revenues Revenues generated by the sales of games or game-related content delivered
on physical storage media (i.e., discs or cartridges). Also includes physical copies ordered in online stores. Does
not include boxed games that only include download codes. Also referred to as premium boxed revenues.

Full Game Digital revenues Revenues generated by the sales of games or game-related content pur-
chased directly from an online store and delivered through a digital download, e.g., the PlayStation Store,
Microsoft Store, Nintendo eShop, Steam, and Tencent WeGame. Also referred to as premium digital
revenues.

Game genres A genre is a classification assigned to a game, based on its gameplay interaction rather than
visual or narrative differences. A genre is a group of games with highly similar gameplay and
interaction patterns for the player. For an overview of categories and descriptions of all genres in the
Newzoo Games Taxonomy visit our help center.

Game revenues Consumer revenues generated by companies in the global games market, excluding
hard-ware sales, tax, business-to-business services, and online gambling and betting revenues.

Game video content Refers to all video content based on game content, including live-streamed
esports and non-esports content, video-on-demand, and short-form video.

Games as a service (GaaS) Games as a service provides game content or access to games on a
continuous revenue model, e.g., via a game subscription service or a season/battle pass. Also referred to as
Live-service games.

Games live streaming audience People who have watched live-streamed gaming content at least once
in the last six months.

Highly engaged players Players that indicate they spent a minimum of 10 hours per week playing on a
PC, mobile, or console.

Hours watched Total amount of hours a game or channel has been watched by consumers.

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In-game revenues Revenues generated through the sales of in-game items, including expansion or content
packs, cosmetics/skins, power-ups, time savers, loot boxes, playable characters, content passes for a one-off
fee (battle/season pass), in-game currencies, content passes for a recurring fee, and reward passes. In-game
revenues are the sum of DLC, microtransaction, and in-game subscription revenues.

In-game subscription revenues Revenue generated from periodic subscription-based consumer spend-
ing for a single game, such as a subscription to an MMO or a membership that provides in-game perks. Does
not include battle or season passes.

Live service games Games that provide game content or access to games on a continuous revenue model,
e.g., via a game subscription service or a season/battle pass. Also referred to as Games as a Service (GaaS).

Metaverse A virtual social environment where people can create and engage in shared experiences.

Microtransaction revenue Revenue generated from microtransaction consumer spend including but
not limited to virtual currency, cosmetics, and battle passes.

Mobile phone games Games played on tablets or smartphones.

Monthly active users (MAU) Represents the number of users who launched a title at least once in a given
month.

Multi-game subscriptions or multi-game subscription revenues Revenues generated by

periodic fees paid for subscriptions to libraries offering multiple games. A service a user can access by
paying for a pre-determined time period. In this report, the term multi-game subscription is used in the
context of a game subscription service, which is a service that offers access to software content without
providing the platform/hardware access that a cloud gaming service provides.

Nintendo Players Those who played games, at least once in the past six months, on a Nintendo Switch, 3DS,
or Nintendo’s old-gen (handheld) console such as Wii U, Wii, and DS.

Non-fungible token (NFT) A unit of data stored on a blockchain that certifies the uniqueness of digital
assets.

Online population All people within a country/market or region who have access to the Internet, via a com-
puter or mobile device.

Pay-to-play (P2P) games Games that must be paid for upfront or are paid subscription-based games. Also
referred to as premium games.

Peripherals Gaming-related hardware products that are used for gaming, such as gaming mice, keyboards,
headsets, controllers, or monitors.

PlayStation Players Those who played games, at least once in the past six months, on a PlayStation (PS)
5, PS4, PC via PS Plus cloud streaming (formerly PSNow), or PS’ old-gen (handheld) console such as PS3, PS
Vita, and PSPortable.

Premium games Games that must be paid for upfront or are paid subscription-based games. Also referred
to as pay-to-play games.

Spend/payer Annual average revenue generated per payer (Game revenues/Payers).

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Subscription revenues Revenues generated by periodical fees paid for subscriptions to gaming content.
A service a user can access by paying for a pre-determined time period. In this report, the term is used in the
context of a game subscription service, which is a service that offers access to software content without pro-
viding the platform/hardware access that a cloud gaming service provides.  

Virtual reality (VR) The computer-generated simulation of a three-dimensional image or environment that
can be interacted with in a seemingly real or physical way by a person using special electronic equipment, such
as a headset with a screen inside or gloves fit ed with sensors.

VR games revenues VR games revenues generated through the consumer VR headsets capable of 6DoF
positional tracking.

Xbox players Those who played games on an Xbox 360, XB One, XB Series S|X, PC via Game Pass, or Mobile
via Game Pass in the past six months.

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 03
The Global
Games Market
The global games market
An overview per region and segment

Key takeaways
The global games market will generate $183.9 billion in 2023, representing +0.5% year-on-year growth.
The following section dives deep into our player and payer numbers while highlighting how we split
revenues per segment and region. We also look at the market’s growth toward 2026, analyze our latest
numbers for the cloud and VR markets, provide a breakdown of global game revenues per monetization
method, and touch on an array of impactful games industry topics and trends.

The number of players worldwide will reach 3.31 billion in 2023, growing +4.3% year-on-year.
Mobile will contribute to most of this growth. As gaming continues to permeate the mainstream and
young people age up, player numbers will rise across the board.

Payer numbers will grow by +4.5% globally to 1.43 billion in 2023. Looking further ahead , we see
that worldwide payer numbers will continue to grow with a CAGR (2021-2026) of +3.7% to reach 1.59
billion players by the end of 2026.

In 2023, the global games market will generate revenues of $183.9 billion in 2023, representing
+0.5% year-on-year growth.

Mobile accounts for the highest share of revenues, but a challenging privacy landscape will
somewhat limit growth until 2026.

PC will be 2023’s biggest revenue growth vehicle, thanks to its +6.9% year-on-year growth. The PC
segment underperformed in 2022 due to a lackluster release schedule.

The industry is continuing to stabilize after some pandemic-induced turbulence. The global games
market will generate yearly revenues of $207.0 billion in 2026. The current console generation—
bolstered by a successor to the Nintend o Switch—will be in full swing by then. Mobile d evelopers
should have also adapted to mobile’s new privacy landscape.

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Players and payers
The number of players worldwide will reach 3.31 billion in 2023, a +4.3% year- on- year increase. Mobile
will account for the bulk of these new players, but every segment will add new players to the global games
market. Game-related engagement is sticky, and many players who entered the market during the early
lockdown years of the pandemic will keep engaging with games in some form.

Global player forecast in 2023

Forecasting player numbers for 2026

3,675M +3.7%
Total players CAGR
3,305M 2021-2026
3,168M
3,064M

PC players

867M

Mobile players

2,789M

2021 2022 2023F 2024 2025 2026F

Console players

625M

The full six-year forecast is included in

the complete version of this report. Learn more.

Gaming is now fully embedded in the mainstream. With each younger generation, gaming engagement increas-
es. As current players age and new players enter the fold, player numbers will continue to rise. What’s more,
2023’s biggest game-based transmedia releases—including the Super Mario Bros. Movie and HBO’s The Last
of Us—and the countless other game-related movies and TV shows in production will continue to legitimize
the industry among non- and lapsed players. To that end, global player numbers will continue to grow with a
2021-2026 CAGR of +3.7% to reach 3.68 billion players by the end of 2026.

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2023 Global players
Per region

Asia-Pacific accounts for more than half of players worldwide, thanks to huge markets like India and China and
highly gaming-engaged countries like Japan and South Korea. Meanwhile, North America and Europe account
for 21% of players. Relatively speaking, the less mature markets of the Middle East & Africa (+11.3% year-on-
year player growth) and Latin America (+6.0%) will enjoy the most player growth in 2023. Factors driving this
growth include better (mobile) internet infrastructure, accessible and affordable (mobile) internet, and the rise
of the middle class. The availability of gaming as an affordable recreational activity, thanks to the free-to-play
model and the increasing population of smartphone users, is also contributing.

Payers

The complete report includes the latest payer statistics. Learn more.

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2023 Game revenues
In 2023, the global games market will generate revenues of $183.9 billion, representing a +0.5% year-
on-year growth, despite challenging macroeconomic factors. You can see in the following chart that the
mobile segment will see a year-on-year revenue decline of -2.1% in 2023, which is a reversal of high growth
rates in prior years. Mobile publishers are currently facing privacy-related monetization and user-acquisition
challenges due to policies from Apple and Google. Mobile developers and marketers have been forced to
course-correct their strategies and experiment with new ones, stopping the segment’s trend of immense
growth in its tracks. That said, revenue growth in emerging markets—and the continued strong
performance of mobile’s biggest legacy hits—will ensure some stability in 2023, but enough to secure growth
in the segment. Mobile will remain gaming’s most significant segment by consumer spending by far,
accounting for just under half of the entire global market.

2023 Global games market

Per segment

The console segment, meanwhile, will be the market’s second-biggest segment, generating $53.1 billion in
2023 to make up 28% of the entire market. Console will see +0.3% year-on-year growth in 2023, thanks to
the huge number of heavy-hitting titles scheduled to launch throughout the year that drive spending.
Several delays led to underperformance in 2022, with many of these titles accounting for 2023’s
projected performance. Many of these delays were due to disrupted development schedules during COVID,
but game development’s growing scopes and complexity mean delays are inevitable, especially when it
comes to the larger-scale revenue-generating AAA games. Therefore, many of the biggest titles initially
slated for 2022, 2021, and even 2020 all launched this year. This includes H1’s multi-million-selling
blockbusters like Hogwarts Legacy, The Legend of Zelda: Tears of the Kingdom, and Final Fantasy XVI. H2
also has some huge heavy hitters in store for consumers, including Marvel’s Spider-Man 2 for PlayStation 5,
Forza Motorsport and Starfield for Xbox, and the first original 2D Mario title in years from Nintendo (Super
Mario Bros. Wonder).

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Meanwhile, the (yearly) third-party heavy hitters such as Call of Duty, EA Sports FC (formerly known as
FIFA), and a new Assassin’s Creed title will only accelerate 2023 revenues further. However, it seems that the
growth of these premium and hybrid titles has come at the cost of the ongoing success of live-service hits
like Fortnite, Rocket League, and others for which engagement and monetization saw a decline so far in
2023. Many third-party titles will also contribute to PC’s revenues. That segment will be the
fastest-growing segment in 2023, growing +6.9% year over year to hit $41.5 billion. Premium hits like
Hogwarts Legacy, Diablo IV, and other third-party releases gave the segment a significant boost in 2023,
even if it lacks many of the first-party hits seen on console (that were delayed to this year). At the same
time, PC ports have seen less-than-stellar optimization this year, likely leading some platform-agnostic
players to opt for the console versions of third-party games. However, PC-exclusive live services hits
remain as popular as ever, leading to new highs in engagement and monetization for the segment.

2023 Global games market

Per region

We can see that most regions will enjoy healthy game revenue growth in 2023. The West’s appetite for
console gaming is driving growth in Western markets. To that end, North America’s games revenues will
grow +0.3% to hit $49.9 billion, while Europe’s will grow +1.3% to reach $33.7 billion. Together, these two
regions will account for 45% of 2023’s global games market revenues. Meanwhile, growth markets will
live up to their “growth” labels. The Middle East & Africa and Latin American regions will grow by 4.6% and
2.2%, respectively. While each of these markets will account for 5% or less of global games revenues, they
will continue to see growth—d espite mobile’s privacy challenges—thanks to improved mobile internet
infrastructure, afford able access to the internet, the availability of affordable gaming, and the growing
number of smartphone users.

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Asia-Pacific is the biggest games region in 2023, accounting for 46% of global revenues. However, as
the region’s revenues will decline -0.2% year over year in 2023, Asia-Pacific’s growth lags behind the rest
of the world. This may come as a surprise due to the region’s many growth markets. The slower-than-usual
growth rate results from Japan, South Korea, and China bringing down the region’s average. We remain
fairly cautious about the future of gaming in China—mostly d ue to the transformative impact of
lockdowns and restrictions on minors’ gaming time. While more games are receiving licenses in the market,
the ripple effect of the previous freezes and slow license issuing are echoing throughout China’s games
market.

2021-2026 Game Revenues

Global game revenues per segment
2021-2026

2024 2025

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The top public companies by game revenues
Every year, Newzoo ranks the top public companies by game revenues. We base our list on an analysis of
annual and quarterly financial reports published by relevant publicly listed game companies. Check out the
list for Q3 2023 below.

Company Revenues

1. Tencent $7,442M

2. Sony $3,410M

3. Apple $3,652M

4. Microsoft $3,284M

5. NetEase $2,814M

6. Google $2,418M

7. Electronic Arts $1,914M

8. Activision Blizzard $2,093M

9. Nintendo $1,260M

10. Take-Two Interactive $1,129M

Learn more about which companies are topping the revenue charts in
the complete report.

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Monetization and delivery method breakdown
In terms of monetization and delivery, full game (or boxed) will see the slowest growth of all the segments we
track. While boxed revenues are on track to rise slightly from 2022 to 2026, the segment’s share of the
entire market’s revenues will drop. On the console front, public company financial reports show that digital
sales are on the rise, while physical sales drop. Part of this can be attributed to the availability of digital-only
consoles, while another factor could be the early-access benefits of digital copies.

Cloud gaming
Cloud gaming is a growing market d ominated by a few services that account for most paying users. This
market has the potential to rack up 39.6 million paying users by the end of 2023, with this number growing to
85.1 million by 2026.

Learn more about the essential monetization, delivery, and cloud

gaming trends with the complete report.

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 04
Key Trends
Trend 01

The console and PC live services boom is

unmistakable, but is it sustainable?

The PC and console games markets are strong and growing. Yet, many companies face a challenging macro
environment (resulting in headwinds for revenue growth), and the console and PC player base is
growing slower than many companies’ growth aspirations. To that end, game makers across console (first-and
third-party) and PC are experimenting with several new strategies to monetize current players further,
diversify their revenue streams, and increase their total addressable market. These include entering mobile,
experimenting with content subscription services, and—most notably for the next five years of the
console and PC game development—live services (games that developers support over a long period with
new content that players can engage with and spend on over time).

This trend piece will explore the increasing pace at which console and PC developers are shifting from
full-priced premium games to live services and how PlayStation and—to a lesser extent, Xbox—are
embracing the trend in earnest. We also cover how mobile developers and Chinese tech giants are entering
the console and PC live-service space. With such an influx of time-consuming live-service content among a
finite number of players and playtime, we also explore how sustainable the market for live-service games is
now and in the future. Explore the entire trend in the complete, paid version of this report, covering:

Third-party live-service games dominate MAU and revenue

charts on PC, Xbox, and PlayStation; other companies see these
successes and follow suit

PlayStation and Xbox are also continuing to experiment with live

services

Mobile game developers and Chinese tech giants will bring even
more live-service content to consoles

The console and PC live-services rush is underway

Back to contents 26
Trend 02

The pros and cons of generative artificial

intelligence (AI) in the future of game
development

On November 20, 2022, OpenAI released ChatGPT to the public, and the seismic impact on society was almost
immediate. Today, you can’t read a business or tech news site without encountering articles on generative AI
and its effects on nearly every sector (gaming very much included). Generative AI, which uses neural networks
to spot patterns and structures in data to generate original content, has already become a sought-after tool to
speed up content creation. Swift advances in large language models (LLMs) only make AI-generated content
more believable, useable, and—in many cases—indistinguishable from human assets. One day, creating entire
games from the ground up may be possible using generative AI.

The game development community’s current response to generative AI ranges from optimism (how genera-
tive AI will speed up the development process and allow for more creativity) to pessimism (concerns around
mass layoffs—something already common in the industry). Given how fast AI tools are hitting the market and
the swift impact they are already having on gaming, it’s easy to get caught up in the current AI-driven
anxiety, especially with developers fearing the loss of their careers. In this trend piece, we will discuss these
scenarios—and how AI might impact our industry—in more detail.

Gaming CEOs are torn on the impact of generative AI, with some core
players disgruntled at these early stages
Many prominent voices in the games market have come forward to address how AI may affect the industry.
Activision Blizzard’s CEO, Bobby Kotick, shared his belief that AI will have a “profound positive impact” on
gaming, while Andrew Wilson, EA’s CEO, warned that AI may lead to “displacement of the workforce.” At
the same time, we have already seen the first evidence of pushback from gamers.

In early June, fans reacted negatively to Cyan Worlds (the studio behind Myst) use of “AI-assisted content.” The
company had used AI to support the creation of journals, logs, stories, songs, poems, and in-game wallpaper.
Some players felt the game’s world-building was bland and blamed it on the AI, while others felt betrayed that
people weren’t doing 100% of the development. As added context, the puzzle title has received mixed critical
reception, but this does not take away from the strong response from fans regarding AI being used to com-
plement game development efforts. In response to the criticism from players, Cyan Worlds took to Twitter to
downplay how much the game leveraged AI. It remains unclear whether players would have noticed anything
if the banner had not directly underlined the use of AI.

Generative AI is being used to streamline game development and

decrease budgets
AAA game development is a demanding endeavor, with soaring budgets and extensive scopes that have
expanded significantly in the last decade. Although revenues generated from the games market have generally
surpassed these escalating costs, primarily due to inventive monetization approaches, the development time-
line for AAA games can now extend beyond five years (seven years for some games, such as Xbox’s Perfect
Dark game). Costs related to the talent and technologies required in the game creation process are a major

Back to contents 27
part of these rising development costs. When factoring in marketing expenses, development budgets are now
in the hundreds-of-millions-of-dollars range (perhaps even a billion for the biggest games). Expensive LiveOps
costs related to the growing trend of live-service games are also contributing. Naturally, publishers are actively
seeking ways to mitigate these escalating costs, and one compelling solution that has emerged is generative AI.

As A16Z revealed in a thread on Twitter, 87% of the 243 studios they surveyed are using AI, with 99% planning
to do so in the future. Additionally, 64% of studios are planning on creating in-house models similar to Bliz-
zard’s patented Diffusion tool, which leverages generative AI to produce art assets faster—a way for companies
to use machine learning to transform low-fidelity texture inputs into high-fidelity assets fit for a AAA game.
Such technology will streamline tasks for artists working in the games industry. For instance, artists will be able
to create an asset like a tree or flower, then leverage AI to generate hundreds or even thousands of
variations, reducing the manual labor required to create richly populated organic environments.

Generative AI may also help with prototyping and concept art, changing the artist’s scope to more of a cura-
tion role. In this case, the generative AI tool would produce many designs based on the artist’s input (for
example, “generate a goblin character with a Viking-inspired style”). The artist would then curate the best
outputs that match the game’s theme and use the AI’s output as inspiration. There may be a concern around
file sizes potentially associated with hundreds of assets, especially in 4K, but procedural generation and other
game development techniques may be used to lessen that burden. In the immediate to short-term, however,
we expect to see an outsized majority of developers using generative AI in image prototyping and creation.

While generative AI tools have the potential to reduce the number of artists needed on projects, studios may
retain the same number of artists with the knowledge that they now have more time to create better assets.
Using generative AI may also streamline hiring processes, especially for specialist roles. Newly hired artists
may be able to leverage generative AI to create assets in a game’s house style, meaning that companies
won’t have to comb the job market for people with years of experience in niche genres. This development
may give less-experienced artists a leg up in the job market, providing more pathways into the industry.

We will also start to see more AI-generated voices in games—something we already saw with voice acting in
2022’s High on Life from Squanch Games. While voice-cloning scams are on the rise, game developers are
leveraging the power of AI to produce unique voices, bypassing the need to source voice actors for NPC and
main character roles. Unfortunately, voice actors may see fewer opportunities in the future, especially as game
developers use AI to cut development costs and time. However, it is worth noting that big AAA prestige games
like The Last of Us and God of War use motion capture and voice acting similarly to Hollywood. Other
games, such as Cyberpunk 2077, cast celebrities like Idris Elba and Keanu Reeves. In such games, we do not
expect AI to replace real-world actors. The situation differs for smaller games (High on Life), indie titles,
and mods with smaller budgets (or nonexistent in many modders’ cases). We are already seeing modders
integrating ChatGPT and other tools into Skyrim to provide NPCs with an organic and infinite list of new
comments. This will make the world feel more alive and allow NPCs to react to how events play out in the game.

In the next two or three years, generative AI tools may replace a significant share of CGI and video
production in games (and game marketing, where video-, image-, and audio-based campaigns are
ubiquitous). Small groups of artists using AI will be able to generate these videos more efficiently than
larger CGI-specialized teams. This has the potential to not only improve and enhance videos and gameplay
elements, but it could also help developers to modernize older titles that may have been too expensive to
remaster previously. However, larger developers may opt for a more “authentic” remastering.

The long-term effects of AI technology are less certain. Still, it’s safe to assume that in the not-too-distant
future, developers and even laypeople will be able to generate entire games using generative AI. As tools become
cheaper and easier to use, the barriers between developers and gamers will continue to break down, and the
global industry may become more community generated. In fact, user-generated content is already becoming

Back to contents 28
a major part of companies’ strategies, with Epic, Roblox, and even companies like PlayStation working on their
own UGC-driven games. Roblox is even working on an initiative that allows every user to start building content
within the game’s environment.

While still in its early days, generative AI could turn RPGs, especially MMORPGs, into infinite living worlds
that can grow organically with the player—a LiveOps dream for many developers. Generative AI could
also be a boon for IP-based games and transmedia. For example, an algorithm could take an IP (Star Wars,
for instance) and authentically extrapolate new content for players to engage with. Each time a player
enters the world, there could be an entirely different story with distinct outcomes. Of course, some
consumers will not go for this and may prefer a much tighter, curated experience they can finish and walk
away from. There is no shortage of developers who will still want to tell a story like Spiritfarer or Journey.
However, questions of profitability and saturation will soon arise as AI makes game game development more
accessible and cost-efficient.

Of course, new technologies for streamlining game development have been a part of the industry for over
40 years. Significantly, many developers (especially AAA) have shied away from using these advances to
build games faster. Primarily, they’ve leveraged new technologies to create bigger games packed with more
content that are more expensive and time-consuming to develop. Some AAA development cycles have even
surpassed five or even seven years. Generative AI could change this for many studios, alleviating time and
budget stress-ors. It could even usher in a more diverse, sustainable, and genuinely amazing games industry.

The pitfalls of generative AI

The legal case for using AI-generated content in games (and other media) is murky at best. Generative AI
pulls from massive data sets to produce seemingly original content, and it’s incredibly challenging to track
whether any of these data points are texts or images under copyright. Any developer using generative AI
without deep due diligence opens themselves to copyright infringement lawsuits. Already, Getty Images
has filed a suit against Stable Diffusion for using images owned by the former without prior consent. While
this issue is still being litigated, it foreshadows the potential legal problems for developers keen on using AI.

Pushback from developers and gamers alike will likely accompany these impending legal challenges. Studios
may want to reframe this as an opportunity to educate players on the benefits of generative AI in
creating games, with increased transparency on its use. As generative AI tools become more sophisticated,
players may make their own games, with the industry turning to AI as a way to counter IP infringement and
approve games to platforms in similar ways to how sites like YouTube function. GameDiscoverCo’s Simon
Carless reported that Valve has already started banning games on Steam that incorporate AI-generated
art assets without com-pelling legal claims to those assets. However, it’s still entirely possible for people or
groups to host servers in unregulated geographies, acting as a hub for millions of unregulated AI-facilitated
UGC titles—regardless of IP, likenesses, and licenses. Situations like these make it especially tricky to enforce
generative AI. Appropriate regulation will be required for the use of generative AI in the creation of video
games. This regulation should clearly define what role fair use has in the use of artificial intelligence.

Generative AI will usher in a new era of game development

While generative AI will inevitably change how games are conceptualized, created, and distributed, it will not
be the end but the beginning of a new era in our favorite entertainment medium. While there will be growing
pains, generative AI will likely help democratize game development, accelerate trends like UGC and live
servic-es (thanks to streamlined content creation), and lead to game experiences that were unimaginable
even a few years ago. Back in 1993, players could never have conceived the games consumers are playing
today. In 2053, who knows what will be possible thanks to the advent of generative AI and the trends,
content, and cultures it fosters? We see incredible potential for generative AI in gaming but underpin this
outlook with the need for regulation and vigilance.

Back to contents 29
Trend 03

Nintendo Switch to Steam Deck and

beyond: Complementary gaming devices are
becoming more prominent

In 2017, Nintendo released the Switch, bringing an innovative hybrid approach to the console market. This new
console allowed players to game at home on a television, like with a typical console (docked) but also native-
ly in a handheld mode (undocked). The feature was a hit among consumers and changed how many people
thought about and engaged with games.

Today, several manufacturers and platform holders are working on ways to allow players to take their console
and PC games on the go. Strategies include dedicated cloud gaming devices (such as the Logitech G Cloud),
local Wi-Fi remote play (Sony’s Project Q), and native handheld portable gaming PCs (Steam Deck and Asus
ROG Ally). These products are intended to be secondary to consumers’ primary gaming devices. For example,
Project Q complements Sony’s PlayStation 5, while the Steam Deck complements a gaming PC. We will refer
to these handhelds as “complementary devices.”

Explore the entire trend in the complete, paid version of this report, covering:

Why are complementary devices gaining traction?

Hype around the Steam Deck led to an influx of portable PC

developments

The markets for complementary devices and handheld PCs are

exciting but unproven

Back to contents 30
Trend 04

Mobile gaming: Platform policies and

regulations define the way forward for
mobile gaming studios
Apple brought chaos and uncertainty to the mobile app market (including games) when it rolled out its App
Tracking Transparency (ATT) and SKAdNetwork 2.0 in April 2021. While it subsequently introduced
some developer-friendly features in SKAdNetwork 4.0, none of those changes gave developers the precise
target-ing methods they relied on in the past. During WWDC2023, Apple announced the “Privacy Manifest”
feature, further limiting ad networks’ ability to use user tracking to optimize campaigns.

Explore the entire trend in the complete, paid version of this report, covering:

Background on Apple’s SKAdNetwork, fingerprinting, and the

Privacy Manifest

New games, existing games that rely on ads, and third-party ad

networks will face the most challenges

The mobile games market is adapting to a new policy and

regulation landscape

Viable marketing and user acquisition (UA) strategies

Bringing mobile games to PC and console

Strong content and innovative marketing will trump user

tracking

Back to contents 31
Trend 05

Gaming, UGC, and the creator economy

collide with influencer-led game studios

Influencers are a fundamental part of the games market.

Creators making content on video platforms like Twitch have been integral to marketing games for years,
with titles like Apex Legends, Valorant, and others successfully leveraging influencers to help their games
quickly amass substantial player numbers. For many consumers, the viewpoints and recommendations of
these crea-tors have replaced traditional journalism and games criticism.

At the same time, creators are diversifying their revenue sources to avoid relying so heavily on the video and
social media platforms on which they built their audiences. A slew of controversial policies from Twitch, like
reducing creators’ revenue share and stopping creators from casting on Twitch and other non-mobile
stream-ing services simultaneously, is only accelerating this streamer shift towards revenue diversification.

Explore the entire trend in the complete, paid version of this report, covering:

Notable influencer-led studios and why marketing is the

backbone of the strategy

Influencer-led games focusing on user-generated content (UGC)

seem best poised for success, but staying on brand matters most

Back to contents 32
Trend 06

The state of VR: Apple enters the ecosystem,

and Meta doubles down on affordability and
gaming

Over the past years, the popularity of virtual reality (VR) gaming has mirrored the general games market. VR
experienced a boost in popularity during the lockdown periods, as it offered consumers a way to escape the
confines of the home and explore immersive, vibrant virtual worlds. Also, like with the general games market,
VR faced challenges when people left lockdown and took up pre-pandemic activities in the physical world.
Players started spending less time and money on playing VR games and purchasing new content.

Overall, we expect a lot from the future of VR, including a clearer path toward more widespread adoption of
augmented reality (AR) devices.

Explore the entire trend in the complete, paid version of this report, covering:

VR is on track for steady hardware and software growth

Standalone headsets are on track for healthy growth, thanks to

movements from Apple and Meta

Apple’s strategy focuses on computing over games and on AR

over VR

Meta is continuing to underline games as a unique value

proposition

Virtual and extended reality look more promising than ever

Back to contents 33
Trend 07

Notable games market developments in Saudi

Arabia, Japan, and China

Savvy Games Group is leading massive investments in Saudi Arabia’s

gaming future
To diversify its economy and avoid relying so heavily on its oil revenues, Saudi Arabia is in the middle of a
hugely ambitious gaming investment campaign, dedicating nearly $8 billion to acquire and establish owner-
ship in global games brands. This strategic move aims to establish Saudi Arabia as a prominent player in the
entertainment industry, and gaming is at the heart of it. Saudi Arabia’s main gaming-related investment entity,
Savvy Games Group, boasts a substantial $38 billion fund to facilitate these ventures. Savvy’s investment
activities encompass several notable deals, including securing a significant stake in China’s VSPO, Sweden’s
Embracer Group, and acquiring the US-based Scopely. Savvy Games Group also owns ESL FaceIt, a prominent
organizer in the esports sector.

Explore the entire trend in the complete, paid version of this report, covering:

Players in Japan’s traditionally mobile- and console-first market

are embracing PC games

Local regulations in China are driving Chinese publishers to new

markets and platforms

Read all of our key games market trends in the full report. Learn more.

Back to contents 34
 05
Special
Focus Topics
Topic 01

Transmedia: How game-based film and TV

impact game engagement

We have long covered gaming’s growing transmedia trend, in which game companies bring their IP to film, TV,
and other media to expand the franchise’s reach and bring consumers back to the core game franchise.

In this special focus topic, we will use our data to gauge the performance of some of gaming’s most significant
transmedia experiments so far. We focus on how transmedia strategies benefit IP native to games, looking
at how game-based movies and TV shows perform but also how they contribute to the engagement of the
games they’re based on.

Here are the main sections of this special focus topic:

How have recent movies and shows based on gaming IP

performed?

The biggest success story so far: The Super Mario Bros. Movie

Video game franchise MAUs before, during, and after transmedia

launches

Transmedia rises: The bond between games and other media will
continue to grow

Access the entire special focus topics with the full report. Learn more.

Back to contents 36
Overall MAU of selected games by media timeline

1.6M

1.4M

1.2M

1.0M

0.8M

0.6M

0.4M

0.2M

0M
MAU before me- Announce MAU Between An- Release MAU after me-
dia announce Month nounce/Release Month dia release
(3 month Average) (Average) (3 month average)

Back to contents 37
Topic 02

Live game viewership

(esports & live-streaming)

Game viewing is now fundamental for boosting game engagement and fostering communities. Players watch
game content to hone their skills, learn how to progress past challenging sections, see the most skilled gamers
in action, and more. Live-streamed esports and gaming content are a major gateway to such content globally
and have grown into an unmissable marketing channel for game publishers and marketers. Ultimately, game
vid eo content helps build a community around a game. An engaged , passionate community is the back-
bone of any successful game—a combination of fan cohesion across content platforms like Twitch, YouTube,
and TikTok, as well as communities on Discord, Reddit, Patreon, and even general social media platforms like
Twitter and Instagram. Esports is also a massive part of the equation for competitive games such as League of
Legends, CS:GO, Dota 2, and Mobile Legends: Bang Bang.

The esports audience by numbers

The most impactful trends in esports

1. Co-streaming accounted for 45% of MSI 2023’s viewership,
setting a record for the event
2. Mobile esports continues to fuel audience growth in emerging
regions
3. Franchised esports teams reassess their strategy after recent
sponsorship deals turn sour
4. New formats experiment with the match between game
mechanics and viewership experience

Live streaming and the creator economy

Two impactful trends in live streaming

1. Controversial new sponsorship rules—though retracted—open
doors for competition among live-streaming platforms
2. Content creators leverage their role as influencers to diversify
their income sources

Back to contents 38
 06
Game Delivery &
Monetization
How game delivery and
monetization methods have
impacted revenues in 2023
Revenue by delivery method
The global games market has become increasingly digital over the past 20 years. Today, the market has almost
entirely moved away from physical delivery methods. Mobile’s app economy, the games market’s biggest
revenue generator, is completely digital, and digitalization is also happening on console and PC. Not only are
full-priced games moving from physical to digital, but some of the most lucrative and innovative
monetiza-tion methods—DLC, micro- transactions, in-game content, and multi-game subscriptions—are
mostly digital by nature. While gamers can still use prepaid gift cards for in-game and platform-specific
currency, premium monetization is the last stand for the physical format.

Premium PC games are rarely sold in boxed format, however. In fact, third- and first-party digital stores
are so intertwined with the PC games market that the share of boxed revenues on PC has dropped to just
0.5%. What’s more, most modern PCs and laptops no longer feature disc drives. Physical PC game
releases are mostly reserved for collector’s editions, and only a small share of consumers prefer owning
physical copies of games. To make matters trickier for the boxed segment, practically every boxed game
that comes with a physical disc requires a day-one patch for optimal play. Game boxes increasingly only
contain a download code (and therefore no disc at all).

In the complete version of this report, we delve deeper into how delivery methods impact revenue. You will
also find revenue figures comparing digital and boxed games from 2021 to 2026.

Back to contents 40
Revenue by monetization method
Global monetization
Regarding global monetization growth, the highest 2021-2026 CAGR numbers will come from in-game sub-
scriptions and downloadable content such as expansions. Meanwhile, live-service games will continue to
be popular, further catalyzing growth on PC and console. Privacy challenges will hinder significant growth in
the mobile segment, which will be somewhat offset by growth on console and PC. Multi-game subscriptions
will see marginal revenue growth from 2022 to 2026.

PC monetization
Premium revenues on PC dropped rapidly between 2015 and 2019. This is mainly due to the growth of live-ser-
vice games on the platform and the microtransaction revenues they provide. While expansion packs have been
a part of the PC ecosystem since the 90s (and before in some cases) and microtransaction revenues have long
been a mainstay of MMORPGs for the segment, the PC market took many lessons from mobile’s highly lucrative
free-to-play revolution.

Console monetization
Premium console revenues also dropped from 2015 to 2019 but managed to stabilize in 2020 and onward.
Battle royale’s slowing momentum and live service’s growth partially explain this. Second-order effects of the
pandemic seem to have slowed premium’s decline on console and PC. Live service’s growing popularity on
console means this monetization method now accounts for 27% ($15.3 billion) of console revenues globally.
Microtransaction revenues for console are highest in Japan (contributing 33% to the market’s console revenues).

Mobile monetization
In the early 2010s, the mobile games market propelled free-to-play monetization into the mainstream, and
in-game monetization has accounted for most of the segment’s revenues ever since. To that end , revenues
from in-game spend ing will generate a staggering $89.7 billion on mobile in 2023—97% of the segment’s
global revenues. The remaining 3% will come from full-game digital revenues, which include mobile versions of
popular retro franchises like the early Final Fantasy titles.

Explore our expansive revenue numbers by delivery and monetization

method in the full report. Learn more.

Back to contents 41
 07
Game Genres
in 2023
Game genre revenues
In this section, we analyze genre revenues for the global games market in 2023. We compare revenue shares
and dollar amounts to 2022 and shine the spotlight on the three major gaming segments: console, PC, and
mobile. Each segment has unique dynamics, but one throughline is that the battle royale genre seems to be
losing momentum. Beyond that, hit titles across console and PC will lead to some expected increases, while
mobile’s shifting privacy policies have caused challenges for genres that rely on advertising for user acquisition.

Console genre revenues

The most popular genre for the console segment is adventure, which will account for 17.1% of console
revenues in 2023—the same share as 2022. Third-party adventure games based on transmedia IPs and
remakes have driven—and will continue to drive—the genre’s revenues this year, including Hogwarts Legacy,
Star Wars Jedi: Survivor, and the highly anticipated high-fidelity remakes of Dead Space and Resident Evil 4.
Console platform holders have always leveraged first-party content to acquire players and stand out.
Often, these first-party exclusives come in the form of adventure games.

Top 5 console genres by global revenue

2023

Back to contents 43
PC genre revenues
PC’s top genre by revenues, shooter, which will account for 14.1% of PC revenues ($5.5 billion) in 2023. Despite
its high revenue share, shooters will still grow +4.9% year on year. The genre’s regular PC heavy hitters like Valor-
ant, Counter-Strike: Global Offensive, a yearly Call of Duty release, and Escape from Tarkov will be bolstered by
several new single-player and multiplayer shooters (mostly the latter). These include Payday 3, S.T.A.L.K.E.R. 2:
Heart of Chernobyl, Warhammer 40,000: Boltgun, and Resident Evil.

Top 5 PC genres by global revenue

2023

Back to contents 44
Mobile genre revenues
The mobile market has had some growing pains in monetization and user acquisition (UA) this year, thanks
to ongoing privacy changes from Apple and Google. The UA effects of these changes are apparent in the
segment’s genre revenues, with some key mobile genres seeing a year-on-year drop. This is true of mobile’s
biggest genre by revenues, RPG, which will see a year-on-year drop. Still, the genre will account for 23.1% of
mobile revenues and over a tenth of the global games market.

Top 5 mobile genres by global revenue

2023

For more in-depth revenue figu es and forecasts by genre, check out
the complete report. Learn more.

Back to contents 45
 08
The Games Market
per Region & Country
Five regions &
35 countries/markets
Together, the 35 countries/markets included in this report represent more than 90% of global game revenues.
The country/market data in the full report comes mainly from our global games market predictive model, incor-
porating over 50 KPIs for all countries/markets. The country/market pages also include input from our primary
consumer research, the Global Games Study 2023, conducted from February to May 2023 and featuring more
than 74,000 respondents across 36 key countries/markets. In the full report, you’ll find key facts like revenues,
player numbers, the average spend per paying gamer across all segments, and revenue forecasts toward 2026.

Middle East
North America Latin America Europe Asia-Pacifi
& Africa

Canada Argentina Belgium Egypt Australia

United States of
Brazil Finland Saudi Arabia China
America

Chile France South Africa India

Colombia Germany Turkiye Indonesia

United Arab
Mexico Italy Japan
Emirates

Netherlands Malaysia

Poland New Zealand

Spain Philippines

Sweden Singapore

United Kingdom South Korea

Taiwan

Thailand

Vietnam

Learn more about the games market

per region & country with the full report.

Back to contents 47
 09
About Newzoo
 About Newzoo
Newzoo is the global leader in video games and gamer data, providing the most
comprehensive view of the games ecosystem: the games, the gamers, and the games market.

Know the Games Know the Games Market

Game Performance Monitor Market Reports & Forecasts

Unlock title-level engagement and revenue Discover games market sizing, forecasts, and
data for thousands of PC and console games. trends on a global and local level.

+ Consulting & analyst services

Know the Gamers

Global Gamer Study Game Health Tracker

Explore the global gamer audiences across Track brand health and purchase funnel data
all dimensions with the largest gamer over time for hundreds of games.
research study.

+ Custom gamer research, designed just for you

The Newzoo Platform

Access data on the entire games market and build your own
research using one seamless platform. Get expert insights on
games, gamers, and the games market, and work with our
consultants to create custom projects.

Back to contents 49
 10
Upgrade to
the Full Report
 Upgrade to the Full Report

2023 Global Games

Market Report
With this comprehensive report and subscription,
you can understand the latest trends in gaming, size
your market, prioritize your game’s global rollout,
and set realistic growth targets.
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Solomon Foshko | Director of Strategic Intelligence and New Product Analytics at Wargaming

Back to contents 51
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in the global games market including esports, live
streaming, cloud gaming, metaverse, and others

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