Funding reports and market data
369 documents·49 writers·624 charts and tables
Documents
Report28 pages
Global Gaming Report 2025
The global gaming industry experienced a transformative year in 2025, defined by unprecedented consolidation and a strategic pivot toward artificial intelligence.
- The gaming industry saw record-breaking M&A activity, headlined by Netflix’s $82.7 billion acquisition of Warner Bros. Discovery’s gaming division and a $55 billion buyout of Electronic Arts.
- Private financing rebounded with 509 deals totaling $6.2 billion, as investors shifted capital toward AI-focused infrastructure and mobile platforms.
- The Drake Star Gaming Index rose 12 percent in 2025, reflecting overall sector resilience despite a 0.5 percent stagnation in the mobile gaming market.
Drake Star PartnersJan 2026
Report21 pages
2026 US Venture Capital Outlook
The 2026 US venture capital outlook projects a cautiously optimistic landscape, driven largely by an explosive surge in early-stage activity and the continued dominance of artificial intelligence (AI) startups.
- AI startups currently command 65% of all venture capital, driving record-high median valuations of $838 million for Series C and D+ rounds.
- The US venture capital market is projected to see a fundraising rebound to $100–$130 billion in 2026, with approximately 70% of new commitments expected to come from recycled distributions.
- As of Q3 2025, the US hosted 830 active unicorns with a combined post-money valuation of $3.9 trillion, though many face significant liquidity constraints and difficulties securing follow-on funding.
PitchBookJan 2026
Report94 pages
1st Census on Game Incubation and Acceleration
The global landscape of game incubation and acceleration is characterized by rapid expansion and high participant satisfaction, yet it remains structurally fragile.
- The game incubation sector is rapidly expanding, with over 70% of the 82 identified global programs established between 2020 and 2025.
- Alumni studio survival rates drop significantly over time, falling from over 70% at six months to 50% or lower by the five-year mark.
- While 92% of programs identify project funding as a critical challenge for studios, only 40% provide direct financial support, typically capped at under $50,000 per team.
International Game Developers’ AssociationJan 2026
Deconstructor of Fun67 min
Hard Truths About Co-Founders, Capital, and Competition with Appcharge's Founders Roei and Maor
Founding a successful startup requires a synthesis of deep personal partnership, strategic transparency, and a relentless focus on core competencies.
- Founders should prioritize achieving specific performance milestones to prove market viability before seeking external capital, as premature fundraising often hinders strategic focus.
- A pre-existing friendship between co-founders is a critical foundation for managing the high-pressure environment of scaling and converting inevitable conflict into productive growth.
- Startups gain a competitive edge by positioning specialized external tools as more efficient alternatives to internal infrastructure, allowing game developers to focus on core product development rather than maintenance.
Deconstructor of FunDec 2025
Report39 pages
Business Case for an Enhanced Video Games Expenditure Credit: UK
The analysis argues that a targeted increase in the Video Games Expenditure Credit (VGEC) would markedly strengthen the United Kingdom’s competitive position within the global video-games sector.
- Increasing the Video Games Expenditure Credit (VGEC) to a tiered rate of 53% for projects under £10 million and 39% for larger productions is projected to generate £530 million in additional gross value added (GVA) and 6,000 new full-time jobs over five years.
- The proposed fiscal enhancement would raise the UK’s effective VGEC rate to 20.6%, surpassing current rates in France (20.2%) and Quebec (18.2%) to improve international competitiveness.
- Every £1 of government investment in the enhanced VGEC is projected to yield a return of £2.12 in combined GVA and tax revenue.
UkieDec 2025
The Game Business29 min
Meet the developer behind Bradley The Badger, The Game Awards’ most bonkers reveal
Day for Night, a game development studio founded by industry veterans Davide Soliani and Christian Cantamessa, recently debuted their upcoming title, Bradley the Badger, at The Game Awards.
- Day for Night, a studio founded by Mario + Rabbids and Red Dead Redemption veterans Davide Soliani and Christian Cantamessa, has debuted its first title, Bradley the Badger.
- The studio operates with a lean team of approximately 24 employees, prioritizing an agile, collaborative structure over the fragmented models typical of AAA development.
- The project has successfully secured funding from 1Up Ventures and Krafton, despite the current challenging global economic climate for game development investment.
The Game BusinessDec 2025
Report48 pages
2022 Member Survey Report
The blockchain gaming industry experienced a period of significant structural evolution and resilience throughout 2022.
- Despite a broader market downturn in 2022, the blockchain gaming sector saw an 85% increase in daily active wallets and a 37% rise in on-chain transactions.
- Venture capital investment in web3 gaming and metaverse projects reached $7.6 billion in 2022, with nearly 90% of industry professionals intending to remain in the space.
- Developers are shifting strategy away from play-to-earn models toward gameplay quality and long-term sustainability, utilizing hybrid monetization that blends traditional mechanics with digital asset ownership.
Blockchain Game AllianceDec 2025
PocketGamer.biz45 min
Nick Button-Brown on Studio Funding | What's Really Happening in 2026
The landscape for video game studio funding in 2026 is defined by a transition away from reliance on large-scale venture capital toward a more fragmented, hybrid model.
- The UK games industry is pushing for a Games Growth Tax Credit to help domestic studios scale and retain long-term value within the country, preventing the loss of economic benefits to foreign entities after acquisitions.
- Investment trends in 2026 are shifting toward 'hustler rounds' and hybrid funding models, as traditional venture capital investment has declined while private equity and publisher funding for smaller projects show signs of recovery.
- Investors currently prioritize unique, protectable intellectual property and innovative business models over past pedigree, moving away from the previous trend of raising millions based solely on a founder's previous work on major titles.
PocketGamer.bizDec 2025
Develop:Brighton42 min
Level Up Your Business: Navigating Debt Financing and Tax Credit Strategies in the Games Industry
Debt financing serves as a critical mechanism for game studios seeking to accelerate development cycles and scale operations while preserving equity ownership.
- Video game companies can leverage debt financing against future income streams or tax credits to accelerate development, expand teams, or fund platform porting without diluting equity ownership.
- The UK government is transitioning from Video Games Tax Relief (VGTR) to the Video Games Expenditure Credit (VGEC), with companies able to remain on the VGTR regime until March 31, 2027, provided development started before April 1, 2025.
- Debt financiers typically require clear collateral, such as development contracts or tax credit projections, and often utilize staggered drawdowns and repayments to minimize the borrower's interest costs.
Develop:BrightonNov 2025
Develop:Brighton45 min
Raising Money A Perspective from Both Sides | Develop:Brighton 2024
Securing capital in the UK games industry requires a strategic alignment between a studio’s long-term vision and the specific motivations of potential backers.
- A successful pitch requires a compelling 20-second hook; if you cannot capture an investor's interest in that timeframe, you will not succeed in a longer meeting.
- Venture capitalists prioritize companies with the potential for 100x returns, making them unsuitable for stable, profitable businesses like those focused on licensed IP, which are better suited for private equity.
- When applying for government grants, you must appeal to 100% of the audience to avoid rejection, whereas VC pitching requires a polarizing approach where 90% of investors can dislike your idea as long as the remaining 10% are fully committed.
Develop:BrightonNov 2025
Develop:Brighton48 min
Key Insights and Takeaways from My Kickstarter Journey | Develop:Brighton 2024
Kickstarter functions primarily as a strategic marketing engine rather than a simple funding vehicle.
- Email marketing is the most effective conversion channel for crowdfunding, yet it is often underutilized; prioritize building and nurturing an email list well before the campaign launch.
- Expect a conversion rate of approximately 20% to 25% of your total followers over the course of a campaign, with only 10% to 15% converting on the first day.
- Keep stretch goals hidden initially to allow for flexibility; this enables developers to adjust goals based on real-time campaign momentum and community feedback gathered through surveys.
Develop:BrightonNov 2025
Deconstructor of Fun8 min
Cyprus LIVE #2 Investment Secrets You Didn’t Know!
The gaming industry in Cyprus has evolved into a significant hub for global development, characterized by a resilient community of professionals who relocated to the region following the post-pandemic market shifts of 2021.
- Cyprus has established itself as a significant global gaming hub, driven by a post-2021 influx of professionals and a talent pool primarily composed of experienced developers from Eastern Europe.
- Investment criteria have shifted since 2021, with venture capital now prioritizing operational efficiency and proven product metrics over the high-valuation models of the past.
- Successful studios in the region, such as SayGames and Nexters, maintain profitability by focusing on international markets, particularly the United States.
Deconstructor of FunNov 2025