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The PC and console market grew 2.6% in 2023, however playtime hours fell throughout the 12 months, in response to the second annual report in the marketplace by market researcher Newzoo.
The excellent report from Amsterdam-based Newzoo stated the variety of gamers can be anticipated to say no over time.
“The video games market has recovered after a slight dip in 2022, however really important progress continues to be not on the quick horizon,” stated Tom Wijman, lead analyst at Newzoo, in an announcement. “We stay cautiously optimistic as our information and evaluation recognized tendencies and successful methods to seek out new gamers, compete for playtime, and join gaming with mainstream media.”
That helps clarify in hindsight why sport firms expanded with new workers and studios throughout the pandemic as playtime hours dramatically grew — after which laid off 10,500 folks in 2023 and an additional 8,000 this 12 months because the enterprise stalled whereas folks returned to pre-pandemic habits.
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Key insights
The business will see modest progress amidst market challenges. The PC and console market grew revenues by 2.6% in 2023, reaching $93.5 billion in income. However common quarterly playtime has decreased by 26% because the first quarter of 2021, with gamers spending over 60% of playtime on video games launched six or extra years in the past.
The way forward for the franchise ? About 60% of recent sport playtime (or 15% of complete playtime) in 2023 went to franchises that launch annual installments like Name of Responsibility, NBA2K, or EA FC.
Rising markets are a vivid spot. PC and console gamers in rising markets have a forecasted compound annual progress charges (CAGRs) of +4.7% and +4.8%, respectively, from 2023-2026 .
The total PC and console gaming in 2024 report is free to obtain on the Newzoo web site.
