Global Gaming Report Q1 2026

1. 01
   Q1 2026 saw 106 private placement deals totaling $785 million, a significant decrease from Q1 2025's $5.0 billion across 149 deals, indicating a cooling investment landscape.See it on page 7
2. 02
   Project financing is now the primary funding path for studios due to headwinds in studio equity, with dedicated User Acquisition (UA) funds emerging as a new lifeline for mid-stage mobile studios.See it on page 4
3. 03
   Key strategics to watch include PIF/Scopely, KRAFTON, NCSoft, Tencent, MTG, Take-Two, Netflix, everplay, and Keywords Studios, while Private Equity is expected to drive take-private transactions of publicly listed gaming firms.See it on page 3
4. 04
   AI, User-Generated Content (UGC), and tech platforms remain top investment areas, with a projected surge in Augmented Reality (AR) activity, exemplified by RayNeo's eSIM-enabled AR glasses and 24% AR glasses market share in Q3 2025.See it on page 9
5. 05
   Notable M&A activity includes NCSOFT acquiring a 70% stake in JustPlay for $202 million, Nazara Technologies acquiring a 50% controlling stake in Bluetile Games for $100.3 million, and Mattel taking full ownership of Mattel163 for $159 million.See it on page 6
6. 06
   The IPO pipeline is active with Discord and PlaySimple gearing up for potential public offerings.See it on page 3
7. 07
   Gaming stocks showed mixed performance in Q1 2026; the Drake Star Gaming Index was down 1.8%, with Mobile down 14.4%, while PC/Console was up 8.9% and Asia was up 3.8%.See it on page 16

Global Gaming Report: Q1 2025

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Video Game Business Snapshot: Q2 2025

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