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2024 Integrated Report: Value Creation Story
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- DeNA aims for a non-GAAP operating profit of 15.0 billion yen by FY2026, with additional goals of 5.0 billion yen for Healthcare & Medical and 3.0 billion yen for Sports & the Community over the next three years.
- DeNA has significantly shifted its business portfolio since FY2021, reducing reliance on the volatile Game Business and growing Live Streaming to over 40.0 billion yen (more than 30% of total revenue) and Sports to 20% of total revenue.
- The Live Streaming Business, driven by Pococha (5.77 million downloads as of March 31, 2024) and IRIAM, has grown to over 40.0 billion yen in revenue, with a segment profit of 5.2 billion yen in FY2023.
- In Healthcare & Medical, DeNA acquired DATA HORIZON CO., LTD. and Allm Inc. to strengthen its portfolio, focusing on health big data and medical digital transformation.
- DeNA has downsized its China Game Business and is developing new approaches to reduce volatility and strengthen its Game Business structure.
PC & Console Year in Review: 2025
The 2025 PC and Console Year in Review provides a comprehensive analysis of the global gaming landscape, focusing on market performance, consumer behavior, and development trends. The primary thesis highlights that while pre-launch marketing and wishlist campaigns remain foundational for success, post-release player reception and the integration of social, co-op elements are the primary drivers of long-term revenue and sustainability. The analysis covers the period from January 1, 2025, through late 2025, utilizing proprietary data estimates to track sales, player engagement, and platform distribution across global markets.
Key findings indicate that the premium game market remains dominant, accounting for 78% of Steam’s $16.8 billion revenue. Indie developers continue to capture significant market share, contributing over 25% of Steam’s total revenue, with "Triple-I" titles demonstrating exceptional return on investment. Geographically, China has solidified its position as a critical market, serving as the top region for Steam and a major driver for both Western and Eastern-developed titles. Furthermore, the data reveals a shift in marketing efficacy; while wishlist counts are rising, conversion rates are declining, forcing studios to experiment with in-game incentives and community-driven engagement strategies.
Genre trends show that action, adventure, and RPG titles continue to lead in player interest, though "cute" and atmospheric games experienced significant year-over-year growth in revenue. Co-op mechanics have emerged as a vital pillar for commercial success, with 11 of the top 20 highest-grossing titles featuring cooperative elements. From a technical perspective, Unreal Engine maintains its status as the market leader for AA and AAA development, while many studios continue to leverage proprietary engines for large-scale projects. The report concludes that while pre-launch hype is a useful tool for visibility, the post-release sales trajectory is ultimately dictated by player sentiment and the ability of a title to foster sustained social interaction.
- Premium games dominate the market, accounting for 78% of Steam’s $16.8 billion total revenue in 2025.
- Cooperative gameplay is a primary driver of commercial success, with 11 of the top 20 highest-grossing titles featuring co-op mechanics.
- Indie developers contribute over 25% of Steam’s total revenue, with 'Triple-I' titles delivering exceptional return on investment.
- China has become the top global region for Steam, serving as a critical market for both Western and Eastern-developed titles.
- Marketing efficacy is shifting as wishlist counts rise while conversion rates decline, necessitating a move toward in-game incentives and community-driven engagement.
Sports & Racing Games Report: Q3 2021
The sports and racing gaming sectors experienced a transformative period throughout 2020 and early 2021, characterized by a 40.2% year-over-year revenue increase to $2 billion. This growth was underpinned by a clear bifurcation in market dynamics: while realistic sports and racing titles consistently outperformed arcade-style counterparts in revenue generation, arcade games maintained higher download volumes. The industry remains highly concentrated, with a small cohort of major publishers—including Electronic Arts, Konami, Tencent, and Zynga—exerting significant control over both market share and intellectual property. Strategic consolidation through high-profile mergers and acquisitions, such as the integration of Glu Mobile and Codemasters into Electronic Arts, reflects a broader industry trend toward portfolio expansion and market dominance.
Geographic performance reveals distinct regional preferences that dictate global revenue flows. The United States remains the primary revenue driver for Western-centric sports and drag racing, while Japan serves as the critical hub for baseball and soccer titles. Conversely, emerging markets such as India and Brazil lead in total download volume, highlighting a disparity between user acquisition and monetization potential. Within the racing segment, kart racing has emerged as a superior model for long-term player retention and balanced gender demographics, contrasting with the gradual revenue decline observed in racing simulators since late 2019.
Despite a temporary pandemic-induced surge in arcade racing downloads during 2020, the market has largely normalized to pre-pandemic levels. The sports manager sub-genre exemplifies the industry’s shift toward high-value monetization, as it has successfully increased net revenue despite a multi-year decline in download volume. Ultimately, the sector is defined by a reliance on established intellectual property and a strategic focus on realistic simulation, with revenue spikes frequently tethered to the launch of major new titles. These trends underscore a mature, consolidated market where success is increasingly dependent on publisher scale and the ability to sustain engagement within specific, high-performing sub-genres.
- The sports and racing sectors saw a 40.2% year-over-year revenue increase to $2 billion between 2020 and early 2021.
- Market power is highly concentrated among major publishers like Electronic Arts, Konami, Tencent, and Zynga, who are driving growth through strategic acquisitions such as Glu Mobile and Codemasters.
- Realistic simulation titles consistently outperform arcade-style games in revenue, while arcade games continue to lead in total download volume.
- The United States remains the primary revenue driver for Western-centric titles, whereas India and Brazil lead in download volume, revealing a significant gap between user acquisition and monetization.
- Sports manager games have successfully increased net revenue despite a multi-year decline in download volume, signaling a shift toward high-value monetization strategies.