BAIN&COMPANYGamingReport2025Breaking Boundaries to Win
AcknowledamentsThe leadership team of Bain & Company 's Global Gaming Sector practice prepared this report, witlspecial direction from Anders C hristofferson, partner and Global Gaming Sector lead, and BrandorRogers, Media practice manager.The authors would like to thank Danielle Schwenker, Iuisa Zhu, Magnus Haug, and Tom Burton for theircontributions to this work. Thanks also to Danielle Erickson, Jef Bauter Eingel, and the editorial team fortheirassistance.olicit writenpermission of Bain&CompanCopyright@2025Bain&Company.,Inc.Alrightsreserved
BAIN&COMPANYUGamingReport2025ContentsBreakingBoundariestoWin,2GamerSurvey:GreatGameplay IsNoLongerEnough.1.............3WiningBeyond the Gam...x....10Squeezed in the Middle:AAA Gaming Studios Must Adapt,16Skipnina theStorefront: Direct Distribution's Growth in Gaming..23
BAIN&COMPANYUGamingReport2025Breakina BoundariestoWinThe video game market has rebounded after the consolidation following the pandemic boom.Bains annual Video Game Consumption Surveyplatform-style games.Their players most highly value social,creative elements and gameplay;graphics aresecondary.Thats been the case fora while for manv gamers but it'seven morepronounced among vounger plaversAAAsudis areadapting.but thevire alsoIhv nimble indies capitalizing onevolving tastes and technology's democratization of gae development and distributionStudios of all sizes are selling more directly to consumers, reducing distribution fees anddeepening relationships with players. Stoking players loveis even more crucial as fans spend more time with favorite franchises through cross-mediaextensionsoncreating a great game, but now, that'sjust the startDanielHongAndersChristoffersonGlobalGamingSectorLead,&Entertainment PracticeAndersVidebaekTomRowlandGamingSectorLead, Europe,GamingSectorLead,Americas
Gamer Survey:Great GameplayIs No Longer EnoughTop games are winning with community building, user-generated contentand innovative revenuemodelsRyAndersChristoffersonAndersVidebaekTomRowlandandMattMadderAtaGlanceThe video game market arew 5% last year to about $219 billion; Bain forecasts4% annualgrowththrough2028.Growth is more concentrated than ever amonast top aames. and one of the most compellingThese games defy traditional rules:Their players value social, creative elements as muchas gameplay and more than graphicsBoth AAA and platform-stylegame developers are looking tobrands for revenuebut plavers remain skeptical outside of mobile aames Thevideo game industrv is rebounding from post-pandemic consdidation. The market grew 5% last yearto around $219 illion in revenue, exchuding hardware, ad ertising, and esports, according to Bainanalysis. We forecast about 4% annual growth through 2028, a normalization after the pandemnic boom But ndusty owthrerm in cncentated. I wel salished t t the mos s ces tsihany entend to be those that were successful in prior years. This ossification has reached new leve...
