gaming industry

Bain & Company forecasts that global video gaming revenue will grow from $199 billion in 2022 to $307 billion by 2027. This represents a compound annual growth rate (CAGR) of 9%. What’s Driving This Growth? Analysts at Bain & Company credit the heavy engagement of younger gamers,...

The U.S. video game market has seen a significant drop in hardware spending, with a 40% decline compared to 2023, according to Circana’s May 2024 highlights. This trend reflects double-digit percentage decreases for all major console manufacturers—Microsoft Corp. (NASDAQ:MSFT), Nintendo ADR...

Microsoft Corp.’s (NASDAQ:MSFT) Bethesda Game Studios (BGS) Montreal is the latest studio in the video game industry to announce its intention to form a union. The One BGS MTL union revealed on social media platform X (formerly Twitter) that it has filed for certification with the Quebec...

FromSoftware president Hidetaka Miyazaki addressed the ongoing issue of layoffs in the video game industry, asserting his commitment to protecting his studio. Amid mass layoffs at major companies like Embracer Group AB (OTC:THQQF), Microsoft Corp. (NASDAQ:MSFT), and Sony Group Corp. (NYSE:SONY),...

John Hight, the general manager and senior vice president of Warcraft, is leaving Microsoft Corp.‘s (NASDAQ:MSFT) Blizzard Entertainment after working there for 12 years. Hight announced his departure on X, expressing gratitude for the community’s support. “After 12 incredible...

The Middle East and North Africa (MENA) and Asia games market experienced a 4.6% increase year-on-year, reaching $85.5 billion in 2023, and is projected to rise to $97.1 billion by 2028. The study, conducted by Niko Partners (via GamesIndustry.biz), includes China, India, East Asia (Japan and Korea...

Behaviour Interactive has announced significant layoffs, affecting up to 95 employees — 70 based in its Montreal office. According to GamesIndustry.biz, the decision comes as part of what the company terms “structural changes” to pursue a “clarified vision.” The studio has...

Adjust’s 2024 Mobile App Trends report shows that mobile games accounted for 49% of the global games market revenue in 2023, totaling $90.4 billion. As reported by GamesIndustry.biz, the study — which analyzed data from January 2022 to January 2024 — noted a 6% year-over-year increase in in-...

Intercept Games and Roll7, the two studios responsible for games like Kerbal Space Program 2 and OlliOlli World, are on the verge of closing down. What Happened: Both Intercept Games and Roll7 are part of Private Division, which Take-Two Interactive Software Inc (NASDAQ:TTWO) formed in 2017 when...

In April, consumer spending in the U.S. gaming market decreased by 3% year-over-year to $4.1 billion, according to Circana Retail Tracking Service. Despite this overall decline, spending on game content — including physical and digital games, add-on content, and subscriptions — rose by 2% to $3.7...

Larian Studios, known for hit games Divinity: Original Sin 2 and Baldur's Gate 3, is opening its seventh studio in Warsaw, Poland. This expansion is part of the company’s ongoing efforts to develop at least two new, “very ambitious” RPGs, as the company noted on X (formerly...

During the last financial quarter, Sony Group Corp. (NYSE:SONY) significantly outperformed Microsoft Corp. (NASDAQ:MSFT) in console shipments, with the PlayStation 5 (PS5) shipping nearly five times more units than the Xbox Series X and S. According to IGN, Sony announced this week that it shipped...

Square Enix Holdings Co (OTC:SQNXF) is reportedly preparing for layoffs as part of ongoing restructuring efforts. According to VGC, citing an internal meeting held on Monday, Square Enix president Takashi Kiryu informed staff that layoffs would affect the company’s American and European...

Square Enix Holdings Co (OTC:SQNXF) is undergoing a company-wide reboot in response to a notable profit dip, despite a slight uptick in sales in the Digital Entertainment segment. The company reported a ¥8.1 billion (approximately $51.9 million) operating loss in the HD games subcategory,...

Microsoft Corp. (NASDAQ:MSFT) is shuttering several Bethesda studios and merging at least two — Roundhouse Games and ZeniMax Online Studios — sending shockwaves through the gaming industry. What Happened: According to IGN, the closures affect Arkane Austin, Tango Gameworks, and Alpha Dog Studios...