ReportBain & Company
Gaming Report 2024: Meet the Moment – How Gamers Are Changing the Game
1 Jan 202432 pages~46 min full read
The global video game market reached $196 billion in 2023 and is projected to grow at an annual rate of approximately 6% through 2028.
See it on page 5Engagement in immersive, cross-platform ecosystems is highly lucrative, as players spend up to five times more per hour when participating in multiple activities rather than gaming alone.
See it on page 8Mobile game titles face an 80% failure rate after three years, necessitating rigorous A/B testing, targeted performance marketing, and tight alignment between development and finance teams.
See it on page 21Consumer demand for platform interoperability is high, with 90% of players desiring a single consolidated marketplace and 50% willing to pay for such a service.
See it on page 15Youth aged 2–18 represent 80% of the player base and dedicate nearly one-third of their total entertainment time to gaming.
See it on page 7Leading studios are shifting toward standardized core tools and autonomous teams while integrating generative AI to optimize ad creation and operational efficiency.
See it on page 23To remain competitive with the broader tech sector, studios must offer comprehensive talent packages that include clear learning paths, ESG commitments, and work-life balance.
See it on page 29The report demonstrates that the global video‑game market reached $196 billion in 2023 and is expected to grow at roughly 6 % per year through 2028. Growth is driven by a youthful demographic—80 % of players aged 2‑18—who devote nearly one third of their entertainment time to gaming. These gamers increasingly engage in immersive, cross‑platform ecosystems that combine social interaction, co‑creation and real‑world extensions of game IP. Their spending per hour can be up to five times higher when they participate in multiple activities, underscoring the commercial value of integrated experiences.
Key findings reveal that 70 % of players use multiple devices and 90 % desire a single consolidated marketplace, with half willing to pay for it. Publishers are therefore urged to develop device‑agnostic platforms, strengthen direct relationships with players and employ data‑driven marketing. In the mobile sector, an 80 % failure rate after three years contrasts sharply with a 10–25 % failure rate in software and retail, highlighting the need for highly targeted paid performance marketing, rigorous A/B testing and tight alignment across development, finance and marketing teams. Long‑term acquisition and retention strategies, coupled with generative AI for ad creation and optimization, are identified as critical success factors.
Operating models at leading studios are shifting toward standardised core tools, autonomous entrepreneurial teams with clear milestones and strategic embedding of generative AI. Talent attraction now demands a comprehensive package that includes purpose, competitive pay, work‑life balance, learning paths and ESG commitments to remain competitive with the broader tech industry. The report’s thesis is that understanding diverse gamer segments, delivering interoperable cross‑platform experiences and investing in data‑driven, AI‑enhanced operations are essential for capturing the rapidly expanding, monetarily active gaming audience.
