Library | Game Industry Library

Market Forecast

FY2024 First Quarter Financial Results

The first quarter of FY2024 reflects a transitional period characterized by a strategic pivot toward the Metaverse and Commerce segments amid a temporary downturn in investment income. Consolidated net sales reached ¥15.8 billion with an operating income of ¥1.2 billion, representing significant quarter-on-quarter declines of 22% and 75% respectively. This contraction was primarily attributed to the Investment Business, which experienced an 86% drop in sales and an operating loss of ¥0.2 billion due to a lack of large-scale distributions. Despite this volatility, the investment portfolio remains robust with ¥82.7 billion in assets under management and an 18% internal rate of return, significantly outperforming domestic venture capital benchmarks. The Game and Anime segment continues to serve as the primary revenue driver, contributing ¥11.7 billion in sales. Performance within this division was bolstered by successful anniversary events for key titles like Heaven Burns Red, though overall results were tempered by a post-peak decline in other areas. To ensure long-term stability, a pipeline of 17 titles is scheduled for release through FY2026. Simultaneously, the Metaverse segment successfully revamped its earnings structure to achieve a ¥0.1 billion operating profit, supported by improved cost efficiency in the Platform Business and aggressive expansion in the VTuber sector. Strategic diversification efforts yielded positive results in the Commerce business, which achieved profitability through the growth of SaaS-related services. While the DX business remained stagnant due to a reduction in operational projects, the broader corporate outlook remains focused on achieving ¥1.9 billion in Metaverse operating income by FY2026. With a stable balance sheet featuring ¥50.3 billion in cash and a workforce of over 1,600 employees, the organization remains positioned to meet its full-year targets by balancing mature gaming assets with emerging digital platforms and high-yield venture investments across Japan and the United States.

investment market-analysis market-forecast+2

GREENov 2023

Financial

First-Quarter 2023/24 Sales: Confirmation of 2023/24 Guidance

NACON reported consolidated sales of €38.5 million for the first quarter of the 2023/24 financial year, representing a 9.3% decrease compared to the same period in the previous year. This performance reflects a transitional phase for the company, characterized by a stable gaming software segment and a significant decline in hardware accessories. While the gaming business remained relatively flat at €27.4 million, new game releases saw a 4.5% increase in revenue. This growth was driven by the strong performance of titles such as Ravenswatch, Tour de France, and TT Isle of Man Ride on Edge 3, which offset the underperformance of The Lord of the Rings: Gollum. The accessories division experienced a 25.5% drop in sales, falling to €10.4 million. This decline is attributed to market cycles, though management anticipates a recovery starting in the third quarter as the installed base of current-generation consoles grows and new premium peripherals are launched. Back catalogue sales also saw a slight contraction of 6.8%, totaling €11.8 million, which the company attributes to a high comparison base from the previous year’s exceptional growth. Despite the initial quarterly dip, the outlook for the remainder of the 2023/24 fiscal year remains positive. The company confirmed its annual guidance, projecting strong growth in both sales and operating income. This optimism is supported by an aggressive release schedule featuring approximately 20 new titles, including high-profile games like RoboCop: Rogue City and Gangs of Sherwood. The strategy focuses on leveraging a diverse portfolio of 16 development studios and a global distribution network to capitalize on upcoming software launches and a revitalized accessories market.

market-analysis game-publishing market-forecast+1

NaconJul 2023

Financial

Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

MIXI, Inc. achieved significant top-line growth during the fiscal year ended March 31, 2023, with net sales rising 20.4% to ¥146,867 million and operating income increasing 39.4% to ¥24,820 million. This performance was primarily driven by the Digital Entertainment segment and the continued strength of its flagship title, Monster Strike. Despite these gains, profit attributable to owners of the parent fell by 49.7% to ¥5,161 million. This decline resulted from substantial non-operating and extraordinary expenses, including a ¥6,604 million loss on equity method investments, a ¥4,818 million impairment loss related to bitbank, inc., and a ¥4,408 million loss stemming from business withdrawals. The fiscal year was characterized by strategic structural shifts, most notably the reclassification of the Investment Business into a primary reportable segment. This change moved operational investment securities to current assets and integrated related gains and losses into net sales and cost of sales. While income before taxes decreased, net cash from operating activities saw a dramatic increase from ¥2,647 million to ¥15,751 million. The company maintained a robust liquidity position, ending the period with ¥118,703 million in cash and cash equivalents, supported by reduced spending on investing and financing activities compared to the previous year. Looking forward, projections for fiscal year 2024 suggest a decline in net sales and operating income, though net profit is expected to recover by 45.3% as the impact of one-time losses diminishes. To enhance capital efficiency and shareholder value, a stable dividend of ¥55 per share was maintained, supplemented by a post-fiscal year authorization of a share repurchase program valued at up to ¥7,500 million. These actions reflect a transition toward a more diversified business model, balancing core digital entertainment assets with strategic investments and portfolio optimization.

investment market-analysis market-forecast+2

MIXI, Inc.May 2023

Report

The Mobile Economy and Digital Ad Space in 2022 and Beyond: An Analysis of Global Trends

The analysis evaluates how the mobile ecosystem and digital advertising evolved through 2022 and projects future dynamics, using Sensor Tower’s App Store and Google Play data, quarterly download and revenue estimates, and ad‑spend figures from North America and major European markets. It frames the mobile economy as still expanding beyond pre‑COVID levels while noting a slowdown in install growth, with India, the United States, Brazil and Indonesia leading global downloads and emerging markets such as Africa poised for rapid gains as smartphone penetration rises. Mobile games retained dominance, accounting for over 50 billion downloads and generating roughly $79 billion in revenue, yet 2022 marked the first year of year‑over‑year revenue decline, driven by reduced spending in the United States, Japan and other major economies. Utilities—particularly VPN apps in India—became the fastest‑growing category, while Turkey showed the sharpest adoption increase but faced inflation‑driven limits on consumer spend. Venture‑capital funding contracted, raising concerns about the emergence of new app disruptors, and Android revenue fell 30 percent year‑over‑year, contrasted with a modest 1 percent iOS growth. Spending patterns shifted as entertainment apps eclipsed social networking in the United States, with TikTok, HBO Max and Disney+ leading a surge that doubled 2019 levels and made entertainment revenue twice that of the next‑largest non‑game category. In Japan, a manga‑reader app topped overall gross revenue for the first time, highlighting diversification beyond games.

market-analysis market-forecast advertising+1

Sensor TowerMar 2023

Financial

Summary of Main Supplementary Explanations Questions and Answers at the FY2023 Second Quarter GREE Results Briefing Held on February 8, 2023

GREE’s financial performance for the second quarter of fiscal year 2023 reflects a strategic transition toward global expansion and internal IP development. While the Game and Anime business experienced a temporary sales decline following the conclusion of major anniversary events for Heaven Burns Red, the Metaverse and Commerce and DX segments maintained steady growth. Management anticipates a recovery in the third quarter, projecting operating income for the Internet and Entertainment Business between ¥1.0 billion and ¥1.5 billion. This outlook is driven by the one-year anniversary of Heaven Burns Red in Japan and its expansion into Korean and traditional Chinese markets, where pre-registration interest has been high. The Metaverse Business, centered on the REALITY platform, has reached a significant milestone by surpassing its breakeven point to achieve profitability. Growth is increasingly driven by international markets, with North America, Indonesia, and Thailand following Japan in user concentration. The platform attracts a predominantly female, Generation Z demographic who utilize the service for private communication. Monetization remains consistent across regions through live-stream gifting, avatar sales, and in-game purchases. To sustain this momentum, the company plans to increase advertising expenditures to scale REALITY into a global platform with hundreds of millions of users. Strategic initiatives in the Anime Business focus on securing proprietary IP and diversifying development pipelines to enhance long-term profitability. By producing anime in-house, the company aims to create a synergistic ecosystem where media content drives deeper engagement with its gaming titles. Although the Investment and Incubation Business faces near-term volatility and potential quarterly losses due to current market conditions, the company maintains a positive medium-to-long-term outlook based on its diversified investment portfolio. Overall, the strategy emphasizes aggressive promotional investment to solidify market share in the global entertainment and metaverse sectors.

market-analysis monetization market-forecast+1

GREEFeb 2023

Financial

1Q FY2023 Presentation Material: October to December 2022

This financial analysis covers the first quarter of the 2023 fiscal year, specifically the period from October to December 2022. The data reflects the performance of a diversified digital conglomerate operating across internet advertising, mobile gaming, and media services. The primary focus of the period was the strategic integration of the FIFA World Cup Qatar 2022 into the ABEMA media platform, which served as a significant driver for user acquisition and brand visibility. Financial results show a consolidated quarterly revenue of 191.1 billion yen, maintaining a steady trajectory compared to the previous year's peak of 192.2 billion yen. However, operating profit for the quarter was 5.2 billion yen, representing a decline in operating margin to 5.2%. This compression is attributed to heavy front-loaded investments in the media segment and increased personnel costs, which rose to 25 billion yen. The advertising business remains the primary profit engine, generating 95.6 billion yen in quarterly sales, while the game business contributed 40.9 billion yen. The media segment experienced a transformative surge due to the World Cup, with weekly active users peaking at over 30 million. Data indicates a diverse viewing demographic, with 44% of users being female and 31% falling in the 20-34 age bracket. The event also accelerated the adoption of large-screen viewing, with television-based streaming accounting for 24% of the device breakdown. While the media segment reported an operating loss of 9.3 billion yen due to content acquisition and infrastructure costs, the company views this as a long-term investment to establish its platform as a "television of the future" and social infrastructure. The company’s medium-to-long-term strategy involves using the accumulated profits from the established advertising and gaming businesses to fund the growth of the media segment. This includes expanding into peripheral areas such as the WINTICKET betting service, which saw transaction volumes reach 88.9 billion yen, and increasing investments in high-quality original content and global animation projects.

market-analysis market-forecast monetization+1

CyberAgentJan 2023

Financial

Q3 2022/23 Sales

NACON reported consolidated sales of 118.7 million euros for the first nine months of the 2022-23 financial year, representing a 4.5% decrease compared to the previous year. This performance was characterized by a significant divergence between the company’s two primary business segments: video game publishing and hardware accessories. While the third quarter specifically saw a 19.6% decline in overall sales to 41.1 million euros, the underlying data reveals a robust expansion in software offset by a sharp contraction in the accessories market. The video games division experienced substantial growth, with nine-month sales rising 59.0% to 66.1 million euros. This surge was driven by both new releases and a strong back catalogue, which grew by 39.7%. Key contributors included titles such as WRC Generations, Steelrising, and Session Skate Sim. Conversely, the accessories segment fell by 37.8% over the nine-month period, totaling 49.0 million euros. This decline is attributed to the global shortage of new-generation consoles and cautious inventory management by distributors, which suppressed demand for peripherals. Geographically and operationally, the results cover NACON’s global distribution network across 100 countries from April 1 to December 31, 2022. Despite the hardware headwinds and the delayed release of several major titles, the company expects full-year sales and operating income to be slightly higher than the previous year. Looking ahead to the 2023-24 financial year, growth is expected to accelerate through a pipeline of approximately twenty new games, including high-profile releases like The Lord of the Rings Gollum and RoboCop: Rogue City, alongside a projected rebound in the accessories market as console supply stabilizes.

market-analysis market-forecast france+1

NaconJan 2023

Report

5 Mobile App Predictions for 2024

The mobile app market is poised for a transformative year in 2024, characterized by the integration of artificial intelligence, a shift in social media monetization, and a rebound in gaming expenditures. This analysis, based on proprietary market estimates and historical data, identifies five critical trends that will define the industry landscape. The findings suggest that while macroeconomic headwinds have previously constrained growth, strategic pivots toward direct consumer monetization and AI-driven functionality are creating new avenues for revenue. A primary driver of 2024 growth is the proliferation of generative AI, with 2.3 billion downloads expected to feature AI-integrated functionality. This represents a 40% year-over-year increase, fueled by the rapid adoption of chatbots and photo-editing tools. Simultaneously, the mobile gaming sector is projected to recover from recent declines, with consumer spending expected to reach $111.4 billion—a 4% year-over-year increase. The United States, Japan, and South Korea are identified as the primary engines for this recovery, with RPG and match-based genres leading the growth. The social media landscape is undergoing a structural shift as microblogging platforms face declining daily active users in favor of video-first platforms. TikTok is positioned to become the highest-grossing app in history, projected to surpass $14.6 billion in lifetime consumer spend. This success is driving a broader industry trend where social networks are moving away from pure ad-based models toward in-app purchases and creator-tipping features. Media-sharing networks are expected to see a 152% increase in consumer spend, reaching $1.3 billion as platforms increasingly shift costs from advertisers to end-users. These trends collectively indicate a move toward more diversified, direct-to-consumer revenue streams across the global mobile ecosystem.

market-forecast market-analysis mobile+1

data.aiJan 2023

Financial

First Half 2023/24 Sales

Nacon reported consolidated sales of €70.8 million for the first half of the 2023/24 financial year, covering the period from April 1 to September 30, 2023. This represents an 8.7% decline compared to the same period in the previous year. The downturn was primarily driven by a lighter release schedule in the second quarter and a high base for comparison from the prior year. Gaming sales fell 5.7% to €44.3 million, while the accessories segment saw a 12.7% decrease to €24.9 million. Despite the overall decline in the first half, the back catalogue returned to growth in the second quarter, rising 5.2% to €9.3 million. The accessories market also showed signs of recovery, particularly in the United States, supported by an expanding installed base of current-generation consoles and strong demand for gaming headsets. Management attributes the temporary dip in new game sales to the timing of releases, noting that only two titles launched at the very end of the second quarter. The outlook for the remainder of the 2023/24 fiscal year remains positive, with the company confirming its guidance for strong growth in both sales and operating income. This optimism is supported by a dense release schedule in the second half, including high-profile titles such as Robocop: Rogue City, which achieved record presales, and Cricket 24. Additionally, the launch of premium hardware, such as the Revolution 5 Pro controller and the RIG 600 PRO headset, is expected to drive significant revenue growth in the accessories division through the end of the calendar year and into the fourth quarter.

market-analysis market-forecast investment+2

NaconJan 2023

Report

5 Mobile App Forecasts: 2023

Global mobile market projections for 2023 indicate a complex landscape defined by shifting consumer priorities and economic pressures. While total mobile advertising spend is expected to reach $362 billion, growth is projected to slow due to macroeconomic headwinds. Short-form video apps are anticipated to be the primary drivers of this ad spend, helping to offset a decline in performance marketing budgets. Conversely, mobile gaming is facing a downturn, with consumer spending forecasted to drop to $107 billion in 2023. This decline is attributed to a combination of the global economic squeeze and tightening privacy regulations, such as IDFA and Google’s upcoming changes, which complicate the targeting of high-spending users. Despite the contraction in gaming spend, specific high-performing titles continue to reach massive financial milestones. Fourteen new apps and games are projected to surpass $2 billion in lifetime consumer spend during 2023, with eleven of those being games. Notably, the video streaming sector remains robust, with platforms like HBO Max and iQIYI expected to join the $3 billion lifetime spend club, reflecting a sustained consumer shift toward mobile-first entertainment. The broader mobile economy is also seeing a migration of retail dollars toward experiential sectors. As discretionary income tightens, consumers are prioritizing travel, live events, sports, and wellness over physical goods. This shift is supported by a long-term trend of increasing mobile engagement; total time spent in apps is forecasted to surpass 6 trillion hours by 2028. This growth is fueled by 5G rollout and the deepening personalization of apps, with emerging markets in Latin America, Southeast Asia, and the Middle East driving significant engagement. These findings are based on proprietary market estimates and historical data analysis of global app store performance and consumer behavior.

market-forecast mobile global+1

data.aiJan 2023

Report

PC & Console Gaming Report 2023

The PC and console gaming market entered a corrective phase in 2022, generating $92.3 billion in revenue despite a 2.2% year-on-year decline and a 15% drop in playtime. This contraction represents a stabilization toward pre-pandemic levels rather than a long-term downturn, as the market still outperformed pre-COVID forecasts by more than $32 billion. While total engagement fell, particularly among hardcore players who reduced playtime by 37%, the industry maintains a massive global audience of 1.1 billion PC and 611 million console players. This foundation is increasingly defined by a shift toward recurring revenue, with microtransactions and downloadable content now accounting for nearly half of all consumer spending. Market dynamics are currently shaped by the dominance of established live-service titles and the successful integration of transmedia strategies. Games like Fortnite and Roblox continue to lead in monthly active users, while media adaptations have proven effective at revitalizing older intellectual properties. The player base has also become more diverse and socially driven, with women comprising 40% of the audience and 72% of users engaging across multiple platforms. Beyond traditional gameplay, three-quarters of players participate in social activities or content creation, indicating that gaming has evolved into a broader lifestyle ecosystem where multi-platform "core gamers" represent the highest-value consumer segment. The outlook for 2023 and beyond suggests a robust recovery fueled by stabilized hardware supply chains and a dense schedule of highly anticipated blockbuster releases. While PC revenue is expected to grow steadily, console gaming is positioned as the primary driver of market expansion over the next three years. High consumer awareness for upcoming major titles, combined with the continued pivot toward hybrid monetization and cross-media expansion, points toward a resilient industry capable of sustaining growth well above historical norms. This trajectory reinforces the transition of the sector from a product-based model to a service-oriented landscape defined by long-term engagement and social connectivity.

market-analysis market-forecast global+2

NewzooJan 2023

Report

Global Cloud Gaming Report: 2022

The global cloud gaming market is entering a phase of maturity, with 2022 revenues projected to reach $2.4 billion supported by a base of 31.7 million paying users. Despite high-profile shifts in the ecosystem, such as the closure of Google Stadia, the industry remains fundamentally viable as major platform holders like Xbox and PlayStation successfully integrate cloud technology to complement traditional hardware. This evolution is primarily driven by the increasing seamlessness of services, which allows players to bypass local hardware limitations and access high-end content instantly across a diverse range of devices. Market projections indicate a robust growth trajectory through 2025, at which point paying users are expected to reach 86.9 million and annual revenues are forecasted to climb to $8.2 billion. This expansion is underpinned by the global rollout of 5G networks, improved service profitability, and the emergence of cloud infrastructure as the foundational backbone for the metaverse. Strategic scaling by major players, including Alibaba’s YuanJing, aims to support massive concurrent user experiences while overcoming the constraints of physical hardware on a global scale. Technological innovation in infrastructure-as-a-service models is further accelerating adoption by lowering costs for both telecom operators and consumers. By utilizing GPU edge computing within carrier networks, providers can deliver high-quality gaming experiences with reduced latency. The industry is also refining its internal metrics and consumer segmentation, distinguishing between cloud-enabled and cloud-native content to better target diverse player demographics. These developments suggest that cloud gaming is transitioning from a niche technology into a central pillar of the broader interactive entertainment landscape.

cloud-gaming market-analysis market-forecast+1

NewzooSept 2022

Financial

Consolidated Financial Results for the Three Months Ended June 30, 2022

Mixi, Inc. reported consolidated financial results for the first quarter of the fiscal year ending March 31, 2023, covering the period from April 1 to June 30, 2022. The data reveals a period of revenue growth alongside declining profitability. Net sales rose 8.7% year-over-year to ¥31,022 million, primarily driven by the Digital Entertainment segment and its flagship title, Monster Strike. However, operating income fell 7.6% to ¥5,557 million, and profit attributable to owners of the parent decreased 13.1% to ¥3,524 million. This contraction in earnings is attributed to increased cost of sales and higher selling, general, and administrative expenses. The company’s operations are divided into four reportable segments: Digital Entertainment, Sports, Lifestyle, and the newly established Investment Business. Digital Entertainment remains the primary profit driver, contributing ¥10,750 million in segment profit. In contrast, the Sports and Lifestyle segments reported losses of ¥653 million and ¥173 million, respectively. The Investment Business, elevated to a main line of business this quarter, contributed ¥179 million in profit. This structural change led to a reclassification of assets, with ¥14,400 million in investment securities moved to current assets as operational investment securities. Geographically focused on the Japanese market, the company maintains a strong financial position with total assets of ¥215,217 million and an equity ratio of 84.9%. Despite the quarterly decline in profit, Mixi maintained its full-year forecast, projecting net sales of ¥120,000 million and a significant 51.3% year-over-year drop in annual profit to ¥5,000 million. The company also confirmed a planned annual dividend of ¥110.00 per share and noted the issuance of new stock options to directors in July 2022.

investment market-analysis market-forecast+2

mixiAug 2022

Financial

25.8% Sales Growth in Q1 2022-2023 (42.4 M€): Confirmation of FY 2022-23 Targets

Nacon achieved significant revenue growth during the first quarter of the 2022-2023 fiscal year, reporting sales of 42.4 million euros. This represents a 25.8% increase compared to the same period in the previous year, driven primarily by a surge in the video game publishing segment. While the company experienced a contraction in its hardware division, the overall financial performance remains aligned with long-term strategic goals, leading to the confirmation of full-year targets including sales exceeding 250 million euros and current operating income surpassing 50 million euros. The video game segment served as the primary growth engine, with sales rising 126.2% to 27.6 million euros. This performance was bolstered by successful new releases such as Vampire: The Masquerade - Swansong and annual sports franchises, alongside a 38.7% increase in back-catalogue revenue. The integration of Daedalic Entertainment and expanded platform distribution deals significantly enhanced the value of older titles. Conversely, the accessories division saw a 31.8% decline in sales to 14.0 million euros. This downturn is attributed to a high year-over-year comparison base, ongoing global console shortages, and inventory adjustments within retail distribution networks, though the company noted market share gains in the United States headset market. Looking ahead to the remainder of the fiscal year, the outlook remains positive despite the rescheduling of high-profile titles like The Lord of the Rings: Gollum to the second half of the year. The upcoming pipeline includes several key releases intended to maintain momentum. Headquartered in France and operating globally with over 900 employees, Nacon continues to leverage synergies between its 16 development studios and its premium peripheral business to solidify its position in the AA gaming market.

market-analysis market-forecast game-publishing+1

NaconJul 2022

Financial

2021‑22 Annual Sales in Line with Expectations

Nacon’s audited consolidated results for the 2021-22 fiscal year, ending March 31, 2022, characterize the period as a transition year defined by strategic investments and a shifting product mix. Annual sales reached 155.9 million euros, a 12.3% decrease from the previous year. This decline was primarily driven by the Games business segment, which saw a 21.1% drop in revenue to 54.4 million euros following the decision to postpone several major titles. The Accessories segment remained more resilient, contributing 96.6 million euros despite global console shortages. Profitability metrics reflected these transitional pressures, with current operating income falling 41.6% to 19.0 million euros and net profit landing at 10.0 million euros. The gross margin rate decreased slightly to 49.9%, influenced by a higher proportion of accessory sales. However, the company successfully mitigated rising shipping and raw material costs through price increases. To fund its aggressive expansion, Nacon invested over 100 million euros in game development and studio acquisitions over a two-year period, increasing its pipeline from 33 to 46 games in development. Looking ahead to the 2022-23 fiscal year, the company anticipates a significant growth acceleration fueled by a robust publishing schedule, including titles such as The Lord of the Rings Gollum and Steelrising. Management projects annual sales to exceed 250 million euros with a current operating margin surpassing 50 million euros. While some delays persist, such as the postponement of Test Drive Unlimited Solar Crown to optimize quality, the company maintains a strong balance sheet with 228.4 million euros in equity and plans to continue its external growth strategy through further studio acquisitions.

market-analysis market-forecast france+1

NaconMay 2022

Report

Mobile Gaming Market Outlook 2022

The global mobile gaming landscape has entered a period of stabilization following pandemic-era surges, with quarterly downloads maintaining a steady baseline of 14 billion. Although total revenue experienced a 6% year-over-year decline to $21.2 billion in early 2022, the market remains significantly larger than its pre-pandemic state. Casual games continue to lead in volume, representing 80% of all downloads, yet Mid-Core titles remain the primary economic engine, generating 60% of total player spending. While the United States maintains its position as the leading consumer market, the Asia-Pacific region exerts increasing influence, evidenced by Taiwan’s rise to the fifth-largest global market and the region's dominance in high-monetization genres like MMORPGs and Card Battlers. Strategic advertising and intellectual property integration have become essential for navigating this competitive environment. Strategy and RPG titles are increasingly prioritizing YouTube for share of voice, while the acquisition of MoPub by AppLovin has shifted the advertising landscape for strategy games. Success in the rapidly growing Card Battler sub-genre, which earns 62% of its revenue from the APAC region, is largely driven by high-performing titles like Yu-Gi-Oh! Master Duel and the effective use of Live Ops and Season Passes. Furthermore, cross-media synergies, such as the impact of the Netflix series Arcane on game downloads, demonstrate the power of multimedia IP in driving user acquisition. The market outlook suggests a temporary correction phase with a projected return to growth by 2023. While Asian markets currently account for 80% of MMORPG revenue, Western interest is growing, as seen with the successful U.S. launch of Diablo Immortal. Similarly, the Real-Time Strategy sector is seeing a geographic shift, with China overtaking the U.S. as the top market for the sub-genre. Future expansion across these segments will likely depend on localized IP collaborations and sophisticated user acquisition strategies tailored to specific regional preferences.

market-analysis market-forecast player-demographics+2

Sensor TowerMay 2022

Financial

FY 2021/22, a Transition Year

Nacon’s financial performance for the 2021/22 fiscal year reflects a strategic transition period characterized by a deliberate shift in release schedules and external expansion. Total annual sales reached €155.9 million, representing a 12.3% decline compared to the previous year. This downturn was primarily driven by the publishing segment, where revenue fell 21.2% to €54.4 million. The fourth quarter was particularly impacted by the postponement of major titles, such as Vampire: The Masquerade – Swansong, resulting in a 25.6% quarterly revenue drop. Despite these delays, the back-catalogue business remained resilient, growing 12.7% during the final quarter. The accessories division, which remains the company's largest revenue contributor at €96.6 million, saw a modest 6.3% decline over the full year. This segment faced significant headwinds, including global console shortages and a challenging geopolitical and economic environment. Consequently, current operating income for the fiscal year is projected to fall between €17 million and €19 million, reflecting the lower-than-anticipated sales volume in the final quarter. Looking forward to the 2022/23 fiscal year, the outlook remains highly optimistic with a projected sales target between €250 million and €300 million. This anticipated growth is supported by a robust pipeline of upcoming releases and the integration of newly acquired entities, including Midgar Studio and Daedalic Entertainment. Management expects a sharp acceleration in business activity and aims for a current operating margin exceeding 20%. The company continues to pursue an external growth strategy to bolster its internal development capabilities and solidify its position in the AA video game publishing and premium gaming device markets.

market-analysis market-forecast france

NaconApr 2022

Report

Mobile Market Forecast 2022‑2026

The forecast projects a decisive shift in the global mobile app economy between 2022 and 2026, positioning the United States as the pre‑eminent App Store market for both consumer spending and download volume, overtaking China for the first time. While the United States already leads Google Play revenue, India continues to register the highest adoption rates, and Brazil is expected to break into the top tier of markets by the mid‑term horizon. Growth is predicted to decelerate in 2022, reflecting macro‑economic headwinds, but a robust rebound is anticipated from 2023 onward, driven by renewed consumer confidence and expanding monetisation strategies across emerging regions. The analysis draws on comprehensive data covering major geographic territories—including North America, Europe, East Asia, South Asia, and Latin America—and spans the full spectrum of mobile industry segments, from app store transactions and download activity to advertising spend and software‑development‑kit performance. By integrating these variables, the forecast delivers a granular view of revenue trajectories, market share dynamics, and user‑acquisition trends that inform strategic planning for developers, marketers, and investors. Underlying the outlook is Sensor Tower’s suite of intelligence products—Store, App, Ad, Usage, and Benchmark Intelligence—designed to support organic growth, optimise paid acquisition, and evaluate SDK efficacy. The firm’s proprietary data and analytical tools underpin the projections, while usage policies restrict unauthorised redistribution of the findings. Contact channels for demonstrations, media, and sales are provided to facilitate deeper engagement with the platform’s capabilities.

market-forecast mobile global

Sensor TowerJan 2022

Financial

FY2022 Annual Presentation Materials

Koei Tecmo Holdings outlines a strategic framework for fiscal year 2022 centered on the global expansion of its intellectual properties and the diversification of its revenue streams. The primary objective is to leverage established franchises across multiple platforms and genres while aggressively pursuing international markets. This strategy is supported by a robust release schedule featuring high-profile titles such as Wild Hearts, Wo Long: Fallen Dynasty, Atelier Ryza 3, and Winning Post 10, alongside mobile offerings like Blue Reflection Sun and Dragon Quest Champions. A significant component of the growth model involves a multi-layered collaboration strategy. This includes licensing intellectual property to global partners and engaging in co-development projects with leading industry players. By collaborating with external entities, the organization aims to mitigate development risks, gain technical expertise from partners, and create new opportunities for series growth. These efforts extend beyond traditional gaming into peripheral markets, including movies, apparel, food, and various merchandise tie-ins, reflecting a holistic approach to brand management. The operational focus emphasizes strengthening development capabilities to produce new global IPs while maintaining the longevity of existing series through consistent updates and multi-platform availability. By balancing internal development with strategic licensing and collaborative ventures, the company seeks to maximize the value of its portfolio. This analytical outlook suggests a transition toward a more globally integrated business model, prioritizing high-quality production and strategic partnerships to drive long-term financial performance and brand recognition in the competitive gaming landscape.

market-forecast game-publishing investment+1

Koei TecmoJan 2022

Report

Southeast Asia’s Games Market

Southeast Asia represents one of the world’s fastest-growing video game markets, characterized by a young population, improving infrastructure, and a rapidly expanding digital economy. Data indicates that the six major countries in the region—Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam—account for approximately $5 billion in market size and 270 million gamers. While this represents 6% of total Asian games revenue, the region is projected to maintain a compound annual growth rate of 8.6% through 2025. Esports serves as a primary driver for this growth, with over 200 million viewers and gamers in the region. Approximately 60% of Southeast Asian gamers are strongly drawn to esports, and 42% are classified as competitive arena gamers. This interest has led to the integration of esports into major regional athletic events like the SEA Games. Furthermore, the audience is becoming increasingly diverse; female gamers now make up 40% of the total gaming population, with growth rates in this demographic outpacing the general market average. In specific markets like Indonesia and Singapore, women comprise nearly half of the gaming audience. The region has also emerged as a pioneer in blockchain and play-to-earn gaming, exemplified by the success of titles like Axie Infinity, which reached over one million daily active users. However, the market faces unique challenges, including parental skepticism, fluctuating government regulations regarding game approvals and bans, and complex cultural sensitivities. Successful expansion requires navigating diverse religious and social landscapes, as localized content can significantly boost revenue while cultural oversights can lead to public backlash or censorship. Ultimately, Southeast Asia offers significant opportunities for global stakeholders, provided they adopt localized strategies rather than a one-size-fits-all approach.

market-analysis market-forecast player-demographics

Niko PartnersJan 2022