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Report14 pages

Gamescom Awesome Indies Show: 2025 by the Numbers

The Gamescom Awesome Indies Show serves as a premier international platform for independent developers, studios, and publishers to debut new titles, gameplay, and trailers. By highlighting creative and emerging projects, the event functions as a high-visibility showcase within the broader Gamescom ecosystem. The 2025 iteration successfully engaged a global audience, demonstrating the significant reach of indie-focused programming through a combination of live streaming and on-demand content.

Performance metrics for the 2025 event underscore its substantial digital footprint. The showcase featured 24 indie titles and generated 36,500 hours of watch time during the live broadcast. Audience engagement remained strong, peaking at 44,000 concurrent viewers, while the event was supported by 116 co-streams. Furthermore, the program achieved 57,800 views on video-on-demand (VOD) platforms, confirming sustained interest in the showcased content beyond the initial live window.

To sustain and expand these efforts, the event offers structured sponsorship opportunities for the 2026 cycle. These commercial tiers range from $10,000 for spotlight trailers to $50,000 for official product partnerships, which include product placement and custom content integration. The sponsorship model is designed to integrate brands directly into the broadcast through branded snipes, developer interviews, and booth tours. By leveraging IGN Entertainment’s production capabilities and established digital channels, these partnerships provide brands with direct access to a dedicated gaming audience, ensuring that the showcase remains a viable and professional vehicle for industry promotion.

  • The 2025 Gamescom Awesome Indies Show featured 24 independent titles and reached a peak of 44,000 concurrent viewers during its live broadcast.
  • The event generated 36,500 hours of live watch time and secured 57,800 views on video-on-demand platforms, indicating strong sustained interest.
  • The broadcast achieved significant distribution through 116 co-streams, amplifying the reach of the indie-focused content.
  • Sponsorship tiers for the 2026 cycle range from $10,000 for spotlight trailers to $50,000 for official product partnerships.
  • Commercial partnerships for 2026 include integrated brand opportunities such as product placement, branded snipes, developer interviews, and booth tours.
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IGN EntertainmentJul 2026
Page 1
Report14 pages

Europe and Esports: High Engagement and Even Higher Potential (2020)

The study demonstrates that Europe’s esports audience reached 92 million viewers by the end of 2020, up 7.4 % from 2019, with 33 million classified as “Esports Enthusiasts” and the remaining 59 million as occasional viewers. Revenue projections for the global market hit €973.9 million in 2020 and are expected to rise to €1.6 billion by 2023, with European figures mirroring this upward trend. The research surveyed 10 175 participants aged 18‑45 across ten Western and Northern European countries, using invitation‑only questionnaires administered over one month (29 May–28 June 2020). Respondents were nationally representative of esports viewers in each country.

Key findings reveal that engagement is highest among 21‑25‑year‑olds, with Finland showing the strongest enthusiast proportion (52 % of 18‑20‑year‑olds) versus only 21 % in the UK. COVID‑19 lockdowns increased viewership in markets with stricter restrictions, such as France and Spain, where 62 % of respondents expected continued higher viewership post‑lockdown. Women constitute 32 % of the audience, largely as occasional viewers; however, 60 % of respondents believe female participation is growing. Female spenders are slightly lower than male counterparts (46 % vs 38 %) but show a higher propensity for physical merchandise, whereas men favor digital items like skins and premium passes.

The report also highlights cross‑sport fandom: 64 % of viewers own a favorite sports team, with football and tennis being the most common. Rocket League enjoys significant popularity, especially in the UK (34 % of enthusiasts). Overall, 58 % of enthusiasts spend on esports products, with Spain leading at 62 %. These insights underscore a rapidly expanding, monetizable European esports ecosystem that offers substantial opportunities for brands across both traditional and digital channels.

  • Europe's esports audience reached 92 million viewers in 2020, a 7.4% increase from 2019, consisting of 33 million enthusiasts and 59 million occasional viewers.
  • Global esports revenue is projected to grow from €973.9 million in 2020 to €1.6 billion by 2023, with European market trends mirroring this expansion.
  • Engagement is highest among 21–25-year-olds, with Finland reporting the highest enthusiast proportion at 52% for the 18–20 age bracket, compared to 21% in the UK.
  • COVID-19 lockdowns significantly boosted viewership in countries like France and Spain, with 62% of respondents in these regions expecting sustained higher engagement post-lockdown.
  • Women represent 32% of the total audience and show a higher propensity for physical merchandise spending, while men favor digital items such as skins and premium passes.
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PayPal
Page 1
Report90 pages

AI Eats the World

Generative AI is positioned as the latest platform shift that will reshape value capture across the global tech ecosystem, with investment surging even as its ultimate impact remains uncertain. Over the past decade, each new technology—mainframes, PCs, the web, smartphones—has displaced early leaders and created fresh revenue streams; generative AI is expected to follow that pattern, driving capital expenditures toward data‑centre expansion and new SaaS offerings.

Capital outlays are accelerating at a rate comparable to mature telecom spending, with 2025 capex for the four largest hyperscalers projected at roughly $350 bn, nearly double 2024 levels. U.S. construction data show data‑centre investment now eclipsing office build‑out, while power and permitting constraints become the primary bottlenecks. Silicon supply lags behind demand, as Nvidia and TSMC struggle to scale, signalling a looming chip‑capacity crunch that could throttle further growth.

The AI model market remains fragmented, with marginal performance differences among leading systems and a paying‑user base of only about 5 % despite roughly 800 million weekly active users. Value capture is shifting from network effects to capital access, with incumbents pursuing bundled and unbundled product strategies while a wave of startups seeks to disaggregate existing services.

Early successful use‑cases follow an “Absorb → Automate → Innovate/Disrupt” pattern, focusing on high‑volume tasks such as coding and marketing copy. Full production roll‑outs lag behind pilots, suggesting that future value will arise from unbundling entrenched services rather than merely automating the obvious.

Automation does not eliminate errors; human oversight remains essential, and the Jevons paradox indicates that productivity gains can increase total work. AI‑driven recommendation systems already lift conversion rates by 5–14 % while cutting content‑creation costs, yet the web’s traffic model is shifting as AI summaries replace traditional search results. The overall conclusion is that while generative AI expands creative output and efficiency, human judgment and new business models will be required to manage error, capture value, and adapt to evolving consumer behavior.

  • Hyperscaler capital expenditure is projected to reach $350 billion in 2025, nearly doubling 2024 levels as data-center investment outpaces office construction.
  • Silicon supply constraints at Nvidia and TSMC, combined with power and permitting limitations, represent the primary bottlenecks threatening to throttle AI growth.
  • Despite 800 million weekly active users, the paying-user base for AI models remains at approximately 5%, highlighting a significant gap in monetization.
  • AI-driven recommendation systems are currently delivering measurable business impact, increasing conversion rates by 5–14% while simultaneously reducing content-creation costs.
  • Value capture is shifting from traditional network effects to capital access, with incumbents bundling services while startups attempt to disaggregate them.
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Benedict Evans
Page 1
Report48 pages

2016 Corporate Responsibility Report

Modern Times Group (MTG) navigated a pivotal digital transformation in 2016 by embedding corporate responsibility into its core business strategy. The organization focused on four primary pillars: media responsibility, social impact, business ethics, and environmental stewardship. By aligning its operational evolution with these values, the company secured recognition in the Dow Jones Sustainability Indices and established a framework for long-term growth. This strategic shift prioritized the integration of ethical standards into digital entertainment services, ensuring that the company’s transition remained consistent with its commitment to regulatory compliance and stakeholder accountability.

Operational performance throughout 2016 reflected a dual focus on internal culture and external resilience. The company successfully reduced its total carbon emissions by 7% and increased its reliance on renewable energy to 16.6%. Simultaneously, MTG bolstered its cybersecurity and anti-corruption frameworks, achieving an 81% completion rate for mandatory information security training and maintaining a record of zero confirmed corruption incidents. Governance was further strengthened through the Corporate Responsibility Advisory Group, which oversaw the implementation of rigorous data protection measures and preparations for upcoming regulatory shifts like GDPR.

Human capital management and social engagement remained central to the company’s mission, despite a workforce reduction to 3,805 employees. MTG actively pursued gender parity in leadership through the "Women Up" initiative, aiming for a 50/50 management split by 2020. Furthermore, the company leveraged extensive consumer research and partnerships, such as "Reach for Change," to ensure content alignment with viewer preferences and broader social impact. While the company acknowledged limitations in HR data granularity, its disclosures adhered to the GRI G4 Core level guidelines, confirming a transparent and disciplined approach to corporate governance across its international operations.

  • MTG integrated corporate responsibility into its core business strategy in 2016, earning recognition in the Dow Jones Sustainability Indices while preparing for GDPR compliance.
  • The company reduced total carbon emissions by 7% and increased its reliance on renewable energy to 16.6% during the 2016 fiscal year.
  • MTG maintained a record of zero confirmed corruption incidents and achieved an 81% completion rate for mandatory information security training.
  • The 'Women Up' initiative was launched to achieve gender parity in leadership positions by 2020, despite a total workforce reduction to 3,805 employees.
  • Governance was strengthened through the establishment of the Corporate Responsibility Advisory Group, which oversaw the implementation of rigorous data protection measures.
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Modern Times Group
Page 1
Report50 pages

3Q FY2021 Presentation Material: Japan

3Q FY2021 Presentation Material The future information, such as earnings forecast, written in this document is based on our expectations and assumptions as of the date the forecast was made. Our actual results could differ materially from those described in this forecast because of various 1. Quarterly Results (April - June 2021) 3. Internet Advertisement Business FY2021 The growth of games and ads exceeded our expectation. The forecast is revised upward again.

  • The company's Q3 FY2021 sales reached 192.2 billion yen (up 70.3% YoY) and operating profit hit 44.5 billion yen (up 5.4x YoY), leading to an upward revision of the full-year forecast.
  • The game division was the primary growth driver, with sales of 92.3 billion yen (up 151.7% YoY) and operating profit of 44.2 billion yen (up 483.5% YoY), largely attributed to the success of "Uma Musume Pretty Derby."
  • The advertising division also performed strongly, achieving sales of 81.8 billion yen (up 27.3% YoY) and operating profit of 5.2 billion yen (up 9.7% YoY) by maximizing advertising effectiveness.
  • ABEMA and related businesses saw sales increase by 48.7% YoY to 19.9 billion yen, though they recorded an operating loss of 3.8 billion yen.
  • The company maintains a strong financial position, with current assets at 272.8 billion yen (up 50.6% YoY) and cash deposits at 146.6 billion yen (up 62.1% YoY) as of June 2021.
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CyberAgent
Page 1
Report40 pages

3Q FY2020 Presentation Material: Japan

3Q FY2020 Presentation Material The future information, such as earnings forecast, written in this document is based on our expectations and assumptions as of the date the forecast was made. Our actual results could differ materially from those described in this forecast because of various 1. Quarterly Results (April - June 2020) 3. Internet Advertisement Business FY2020 Results were in line with the forecast despite COVID-19 Q3 impact.

  • Overall FY2020 results were in line with forecasts despite COVID-19, with Q3 sales down 0.7% year-over-year to 112.8 billion yen and operating profit down 12.3% to 8.2 billion yen.
  • ABEMA's Weekly Active Users (WAU) remained stable after the lifting of stay-at-home requests, with Media sales up 19.2% year-over-year to 13.3 billion yen, though operating profit was a loss of 4.0 billion yen.
  • Advertising sales remained flat year-over-year at 64.3 billion yen (up 0.01%) despite COVID-19, with operating profit down 6.0% to 4.7 billion yen, by focusing on advertisers with strong stay-at-home consumer demand.
  • Game sales declined 4.0% year-over-year to 36.7 billion yen in Q3, with operating profit down 9.5% to 7.5 billion yen, as quarterly revenue declined after anniversaries of game releases.
  • The company's total employee headcount was 5,467 at the end of June, including 295 new graduates who joined in April.
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CyberAgent
Page 1
Report52 pages

2Q FY2021 Presentation Material

2Q FY2021 Presentation Material The future information, such as earnings forecast, written in this document is based on our expectations and assumptions as of the date the forecast was made. Our actual results could differ materially from those described in this forecast because of various 1. Quarterly Results (January - March 2021) 3. Internet Advertisement Business FY2021 Game and ads performed well.

  • Consolidated sales for 2Q FY2021 reached 163.4 billion yen, marking a significant 26.6% year-over-year increase, driven by strong performance in both the game and advertising businesses.
  • The company has achieved its full-year forecast for Sales (294.4B), Operating Profit (32.9B), Ordinary Profit (33.0B), and Net Profit (13.6B), with sales progressing at 49% towards a revised 600B target.
  • The game business saw success with new titles; "NieR Re[in]carnation" achieved 10 million downloads, and "UMA MUSUME Pretty Derby" exceeded 5 million downloads within 1.5 months of its February 24th release.
  • ABEMA's weekly active users (WAU) are consistently in the 12 million range, with a peak of 14.90 million, indicating strong user engagement for the media platform.
  • Total employee headcount stood at 5,535 at the end of March, with 300 new graduates joining in April, reflecting continued investment in human resources.
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CyberAgent
Page 1
Report43 pages

3Q FY2022 Presentation Material: Japan

3Q FY2022 Presentation Material The future information, such as earnings forecast, written in this document is based on our expectations and assumptions as of the date the forecast was made. Our actual results could differ materially from those described in this forecast because of various 1. Quarterly Results (April - June 2022) 3. Internet Advertisement Business 6. Medium to long-term strategy FY2022 Game sales declined from the peak made by the title released last year.

  • Overall Q3 sales decreased by 10.4% year-over-year to 172.1 billion yen, and operating profit plummeted by 76.7% to 10.3 billion yen, largely due to a significant decline in game sales.
  • Game sales decreased by 50.0% year-over-year to 46.2 billion yen in Q3, with operating profit down 77.6% to 9.8 billion yen, attributed to the previous year's peak title release and big events.
  • Advertising sales remained strong, growing by 21.6% year-over-year to 99.5 billion yen in Q3, achieving a new record high, with operating profit up 19.0% to 6.1 billion yen.
  • Media sales grew by 48.2% year-over-year to 29.5 billion yen in Q3, driven by ABEMA PPV and related businesses, despite an operating loss of 3.9 billion yen.
  • SG&A expenses increased by 22.7% year-over-year to 37.8 billion yen in Q3, primarily due to increased marketing expenses for "WINTICKET" and special incentives.
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CyberAgent
Page 1
Report40 pages

2Q FY2023 Presentation Material: Japan

2Q FY2023 Presentation Material The future information, such as earnings forecast, written in this document is based on our expectations and assumptions as of the date the forecast was made. Our actual results could differ materially from those described in this forecast because of various 1. Financial Summary (January - March 2023) 3. Internet Advertisement Business 6. Medium to long-term strategy FY2023 Quarterly sales hit a new record high.

  • FY2023 Q2 sales reached a new record high of 195.6 billion yen, a 2.4% increase year-over-year, despite a 27.0% decrease in operating profit to 18.7 billion yen.
  • The media business, particularly ABEMA, significantly reduced its loss, with sales up 22.4% year-over-year to 33.4 billion yen and operating profit improving by 1.3 billion yen year-over-year to -0.5 billion yen.
  • The game business showed strong performance driven by anniversaries of major games like "Uma Musume Pretty Derby" and "Granblue Fantasy," with sales of 62.1 billion yen (down 10.0% YoY but up 51.9% QoQ) and operating profit of 15.2 billion yen (down 29.0% YoY but up 191.7% QoQ).
  • Ad sales remained stable and hit a new record high of 100.2 billion yen, up 6.7% year-over-year, due to solid client acquisition, though operating profit for this segment decreased by 33.9% to 4.9 billion yen.
  • ABEMA's Weekly Active Users (WAU) remained 1.5 times higher than the previous year following the FIFA World Cup Qatar 2022, indicating sustained user engagement.
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CyberAgent
Page 1
Report37 pages

FY2024 Presentation Material: January to March 2024

The presentation outlines CyberAgent’s FY2024 performance, emphasizing record sales and operating profit growth across its three core businesses—Internet Advertising, Media (ABEMA), and Game. Consolidated sales reached ¥215.1 billion in Q2, up 10.0% YoY, while operating profit rose to ¥21.0 billion, a 12.2% increase and the first time surpassing ¥20 billion in eight quarters. Internet Advertising sales climbed 7.1% YoY to ¥107.3 billion, with operating profit up 19.6%. The Media segment achieved a new high of ¥42.0 billion in sales, up 25.8% YoY, and turned profitable for the first time since Q2 2023; operating profit increased 0.7 billion yen. Game sales grew 8.1% YoY to ¥67.1 billion, driven by the launch of “Granblue Fantasy: Relink,” which sold one million units within eleven days, and by anniversary events for major titles; operating profit surged 19.8% YoY.

Financially, SG&A expenses increased modestly by 2.9%, while cash deposits and fixed assets grew significantly, reflecting investment in technology and talent. Net income attributable to shareholders rose 30.8% YoY to ¥10.3 billion, offset by a temporary extraordinary loss.

The company’s strategy focuses on leveraging generative AI and large‑language models (CyberAgentLM) to enhance ad creative, expand ABEMA’s sports content through partnerships with DAZN and WOWSPO, and sustain game revenue by launching new titles such as “Granblue Fantasy Versus” and “Umamusume Pretty Derby.” The overarching goal is to increase sales and profits, with FY2023 operating profit as a low point, and to position CyberAgent as a global digital media and technology leader.

  • CyberAgent achieved consolidated Q2 FY2024 sales of ¥215.1 billion (up 10.0% YoY) and an operating profit of ¥21.0 billion, marking the first time profit has exceeded ¥20 billion in eight quarters.
  • The Game segment grew 8.1% YoY to ¥67.1 billion in sales, bolstered by the launch of 'Granblue Fantasy: Relink'—which reached one million units sold in eleven days—and various anniversary events.
  • The Media segment (ABEMA) reached a record ¥42.0 billion in sales, a 25.8% YoY increase, and achieved profitability for the first time since Q2 2023 with an operating profit of ¥0.7 billion.
  • Internet Advertising sales rose 7.1% YoY to ¥107.3 billion, with operating profit significantly outpacing revenue growth at a 19.6% increase.
  • Net income attributable to shareholders grew 30.8% YoY to ¥10.3 billion, despite being partially offset by a temporary extraordinary loss.
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CyberAgent
Page 1
Report29 pages

Esports is Shaping the Future of Live Entertainment

Esports is rapidly evolving into a mainstream live‑entertainment sector, with viewership surpassing 100 million hours and prize pools doubling since 2018. The industry’s growth outpaces traditional sports, registering a 10 % year‑over‑year increase while leagues such as the NFL and NBA stagnate. Core titles—League of Legends, CS:GO, Mobile Legends: Bang Bang, Dota 2 and Valorant—concentrate 70 % of total viewing hours, yet an estimated $2.5 billion in untapped gamer audiences remains available, underscoring significant scalability potential.

Geographically, governments across France, Denmark, China and Japan are investing in infrastructure, tax incentives and athlete support, while the International Esports Federation seeks Olympic recognition. Sponsorship penetration has reached 45 % of non‑gaming brands, and universities now offer esports scholarships, indicating a blending of traditional sports support structures with the unique dynamics of game publishers. However, media‑rights monetisation remains constrained by fragmented licensing arrangements.

The absence of a unified regulatory body creates volatility for players; games and prize pools can collapse abruptly, as seen with Fortnite and Heroes of the Storm. Coordinated regulation, career pathways, post‑career support and state investment are identified as essential for legitimising esports as a sustainable profession. In sum, the sector demonstrates explosive growth and high engagement among younger, tech‑savvy audiences, but requires cohesive governance and media‑rights frameworks to unlock its full economic potential.

  • Esports is outperforming traditional sports with a 10% year-over-year growth rate, while viewership has surpassed 100 million hours and prize pools have doubled since 2018.
  • Five core titles—League of Legends, CS:GO, Mobile Legends: Bang Bang, Dota 2, and Valorant—account for 70% of total viewing hours, yet $2.5 billion in gamer audiences remains untapped.
  • Non-gaming brand sponsorship has reached 45% penetration, supported by emerging institutional structures like university scholarships and government investments in infrastructure and tax incentives.
  • The lack of a unified regulatory body and fragmented media-rights licensing remain the primary barriers to long-term economic stability and monetization.
  • The industry faces significant volatility, as evidenced by the abrupt collapse of prize pools and professional ecosystems for titles like Fortnite and Heroes of the Storm.
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InvestGameDec 2025
Page 1
Report26 pages

Predictions for the Digital Economy in 2026

The analysis projects a rapid expansion of the digital economy through 2026, driven primarily by generative AI applications and vertical video formats. Generative‑AI apps are expected to generate more than $10 billion in in‑app purchase revenue by 2026, with downloads projected to reach 4 billion and user engagement exceeding 43 billion hours. The genre will climb into the top five mobile categories across downloads, revenue, and time spent, surpassing established sectors such as shopping and movies. Short‑drama vertical video is forecast to overtake traditional OTT streaming in global downloads, narrowing the revenue gap and capturing 40 % of time spent by 2026.

Digital advertising spending is shifting back toward image‑based creatives, with a 35 % year‑over‑year increase in image ad spend and a projected acceleration of this trend by 2026, especially within social channels where Reels and similar formats dominate. Meanwhile, generative AI traffic to the top 1,000 U.S. websites is projected to rise by more than 130 % YoY, reaching a point where half of these sites receive higher traffic from AI than paid sources by the end of 2026.

Mobile game acquisition costs remain high, and the market is trending toward smaller, ad‑native titles that can monetize efficiently. Steam releases are accelerating, with 2025 already breaking records for new titles, indicating a shift toward faster, lower‑budget development cycles. Overall, the report underscores a digital landscape increasingly shaped by AI‑driven content and streamlined monetization models across mobile, web, and gaming sectors.

  • Generative AI applications are projected to reach $10 billion in in-app purchase revenue, 4 billion downloads, and 43 billion hours of user engagement by 2026, becoming a top-five mobile category.
  • Short-drama vertical video is forecast to surpass traditional OTT streaming in global downloads and capture 40% of total user time spent by 2026.
  • By the end of 2026, half of the top 1,000 U.S. websites are expected to receive more traffic from generative AI than from paid sources, with AI-related traffic rising over 130% year-over-year.
  • Digital advertising is shifting back toward image-based creatives, evidenced by a 35% year-over-year increase in image ad spend that is expected to accelerate through 2026.
  • The gaming market is trending toward smaller, ad-native mobile titles to combat high acquisition costs, while Steam is seeing record-breaking release volumes driven by faster, lower-budget development cycles.
+3
Sensor TowerDec 2025

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