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Deconstructor of Fun62 min
TWIG #360 The Story of Two Steam Games, Where Winds Meet & The 4X Shake-Up
The modern gaming landscape is defined by a widening gap between vanity metrics and sustainable revenue, as developers struggle to balance high user acquisition costs with long-term retention.
- The 4X strategy genre currently generates approximately $700 million in monthly revenue, with growth driven by gender-neutral themes and casualized art styles rather than traditional hardcore aesthetics.
- The gaming industry is shifting away from complex, gear-heavy progression systems toward accessible, cross-platform experiences that utilize seasonal resets to improve retention.
- Rising user acquisition costs and high install prices are forcing studios to abandon traditional squad RPG models in favor of high-fidelity, broad-appeal titles.
Deconstructor of FunDec 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
The Game Business59 min
We interview the man who signed Arc Raiders: "The AAA industry is at its end"
The traditional AAA game industry has reached a structural dead end, characterized by unsustainable development costs, industrial-scale managerial complexity, and a reliance on legacy intellectual property that stifles genuine innovation.
- The traditional AAA industry model is structurally failing due to unsustainable development costs, excessive managerial complexity, and an over-reliance on legacy intellectual property.
- Artificial intelligence is projected to redefine the gaming industry over the next five to seven years by enabling smaller, agile teams to bypass traditional dis-economies of scale.
- The integration of AI tools is expected to catalyze a significant expansion of the gaming sector, potentially tripling its overall size by increasing operational efficiency.
The Game BusinessDec 2025
Presentation19 pages
Wyniki Finansowe 3Q25
This financial analysis details the third-quarter 2025 performance of PCF Group S.A. (People Can Fly), a global game development studio.
- PCF Group S.A. reported a net loss of 117 million PLN for the first nine months of 2025, a significant increase from the 33.3 million PLN loss recorded in the same period of 2024.
- A 92 million PLN write-down for the project 'Lost Rift' (Victoria) following its September 25, 2025, Early Access launch was the primary driver of the group's financial deficit.
- Despite the net loss, total revenue grew to 152.1 million PLN in the first nine months of 2025, up from 131.9 million PLN in 2024, driven by work-for-hire projects including Delta, Zulu, and Echo.
PCF GroupDec 2025
Deconstructor of Fun63 min
TWIG #359 Unity x Epic, Roblox Controversy, Saudi Money and Why The Game Awards Make No Sense
The gaming industry is currently navigating a period of significant strategic realignment, marked by an unexpected partnership between Epic Games and Unity.
- Epic Games and Unity have formed a strategic partnership to integrate Unity’s commerce SDKs into Unreal Engine and allow Unity-built content to function within the Fortnite ecosystem.
- Roblox is facing significant regulatory and reputational pressure regarding its current moderation practices and child safety protocols.
- The 2024 Game Awards have been criticized for a disconnect between award nominations and actual Western market performance, particularly regarding the mobile sector's representation.
Deconstructor of FunNov 2025
PocketGamer.biz34 min
Insights on AI, China and EU regulation from RovioCon and Slush 2025 | Week in Mobile Games podcast
The mobile gaming industry is currently navigating a period of intense structural transition, characterized by a contraction in venture capital interest and mounting regulatory headwinds.
- Chinese mobile game developers are increasingly dominating global market categories like 4X strategy and shooters, utilizing massive marketing teams—sometimes exceeding 200 people per game—to outcompete Western studios.
- Epic Games and Unity have formed a strategic partnership allowing developers to use Unity's in-app purchase SDK within Unreal Engine and publish Unity-built games directly into the Fortnite ecosystem to access its 500 million registered accounts.
- Investors are increasingly favoring non-gaming apps over game studios due to higher valuation multiples, with some AI platforms like Lovable reaching $200 million in annual recurring revenue (ARR).
PocketGamer.bizNov 2025
Deconstructor of Fun79 min
How Three Engineers No One Wanted to Fund Built a $XXXM Company
Heroic Labs demonstrates that sustainable growth in the gaming infrastructure sector is best achieved through a commitment to open-source technology and operational autonomy.
- Heroic Labs achieved significant market penetration by transitioning from a closed SaaS model to an open-source infrastructure framework, which allowed them to secure major clients like Zynga.
- The company prioritized long-term stability and product quality by rejecting traditional venture-backed growth models in favor of a bootstrapped, engineer-led approach.
- By focusing on solving genuine technical problems rather than chasing artificial growth metrics, the founders maintained operational autonomy and avoided the volatility of external investor influence.
Deconstructor of FunNov 2025
Develop:Brighton41 min
Shaping Your Future: Ukie is Here to Help | Develop:Brighton 2024
The United Kingdom video games industry is currently navigating a period of significant market correction and economic volatility, characterized by widespread layoffs and tightening financial conditions.
- The UK games industry is experiencing a post-pandemic downward correction, yet it remains on a 6% year-on-year growth trajectory through 2025, following an 11% growth rate between 2016 and 2021.
- Ukie is prioritizing a five-year strategy to lobby the UK government for sector-specific support, arguing that games should be treated as a unique creative vertical rather than being grouped with film or social media.
- Ukie’s policy agenda includes advocating for a digital creativity GCSE and the integration of play-based learning into the national school curriculum to secure the future talent pipeline.
Develop:BrightonNov 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
Deconstructor of Fun60 min
TWIG #356 Epic vs Google, Roblox’s Rough Quarter, Supercell Pulls the Plug
The mobile gaming landscape is undergoing a significant structural shift following the settlement between Epic Games and Google, which concludes five years of litigation.
- The Epic Games vs. Google settlement mandates a tiered fee structure through 2032, charging 9% for non-gameplay items and 20% for gameplay-affecting purchases, which incentivizes developers to shift toward direct-to-consumer billing.
- Supercell canceled Squad Busters despite the title generating $100 million in gross revenue, as it failed to meet long-term viability standards after an estimated $150 million investment in development and marketing.
- Roblox reached 151 million daily active users and record bookings in Q3 2025, yet continues to face investor skepticism due to margin compression caused by rising infrastructure costs and expensive international user acquisition.
Deconstructor of FunNov 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