Global Gaming Report 2024 The global gaming industry experienced a significant recovery in deal activity during 2024, characterized by a 39% increase in disclosed deal value to $27.3 billion across 967 announced transactions. This resurgence was driven primarily by a 21% rise in merger and acquisition (M&A) volume, totaling 198 deals worth $10.5 billion. Private equity firms emerged as pivotal players, exemplified by EQT’s $2.8 billion acquisition of Keywords Studios and CVC’s $1.1 billion purchase of Jagex. The PC and console segment led M&A activity with 53 deals, followed closely by mobile and platform tools.
Private placements also saw growth, with $4.8 billion raised across 711 deals, representing a 30% increase in value despite an 8% dip in deal count. Early-stage investments dominated this space, accounting for over 90% of total raises. Notable financings included Disney’s $1.5 billion investment in Epic Games and significant rounds for Infinite Reality and Build A Rocket Boy. Blockchain remained the most prolific segment for private funding with 250 deals, while new gaming-focused funds from firms like Andreessen Horowitz and Bitkraft signaled renewed investor confidence with over $1.8 billion in fresh capital.
Public markets showed mixed results but overall growth, as the Drake Star Gaming Index rose 10.4%. Top performers included Sea/Garena, DeNA, and Konami, while companies like Unity and Corsair struggled. The year concluded with a strong fourth quarter featuring major mobile acquisitions, such as Miniclip’s $1.2 billion purchase of Easybrain and MTG’s $820 million acquisition of Plarium.
The outlook for 2025 is highly optimistic, predicated on strategic consolidations and a rebounding public market. Anticipated catalysts include the launch of the Nintendo Switch 2 and Grand Theft Auto 6, which are expected to drive player engagement and further M&A opportunities. Key trends for the coming year include a potential wave of IPOs in the Indian market, increased delisting activity by private equity firms, and continued growth in AI and blockchain-integrated gaming platforms.
