Niantic

Video Game Market Update: Q2 2025

The update delivers a comprehensive snapshot of the global video-game ecosystem in the second quarter of 2025, emphasizing financial flows, consumer behavior and platform performance.

• The video game market is shifting toward a differentiated growth model where mobile spending has stabilized at $20 billion per quarter, while PC and console segments show renewed vigor.
• Steam revenue grew 20% year-on-year, and console performance remains strong with the record-breaking launch of the Nintendo Switch 2 and PlayStation reaching 120 million monthly active users.
• M&A activity totaled $6.2 billion in Q2 2025, while private equity and late-stage venture capital inflows dropped to a five-year low of $0.4 billion.