Game Industry Valuation

Public market totals $2.1 trillion

by Evan Van Zelfden, Analyst and Managing Director

The true measure of the game-industry has never been calculated—and for the first time, Games One reveals the sum total of the worldwide video-game ecosystem:

$2,187,792,674,097

as of market-close on 23 April 2021

Today, there are more than three hundred publicly-traded companies that derive measurable revenue from gaming. This monograph covers the facts and figures, offers commentary and analysis, methodology, end-notes, and a codex as reference.

Table of Contents: Preface / Executive Summary / The List / Analysis / terms and disclosure

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Preface

Historically, market researchers have plagued the industry with annual sales figures. These temporary indicators – while never fully agreed upon set the narrative.

The real measure of any asset is the valuation at sale. Market prices are the realizaton of value.

This survey is calculated by taking share-price, multiplied by number-of-shares, exchanged into US Dollars as needed. (If a company derives revenue from other business segments, that percentage is excluded from the valuation.) Based on stock-exchange data, and reports published by the companies themselves, a comprehensive depiction of the sector emerges…

Findings

the world’s twenty-five richest families (measured by Bloomberg in August 2020) could not afford to buy the entire game industry (measured by Games One in April 2021), even with all their combined wealth.

— the four largest public game companies represent more than half the total market; it takes another ninety companies to compose the next trillion dollars in valuation.

— the United States leads value-by-country, followed by China.

— the United States is forecast to continue annual growth in the gaming sector. Asia would need 1.7x overnight growth to reach parity with the US at current market values. Europe would need 12x overnight growth to reach parity with Asia; Europe would need 20x overnight growth to reach parity with the US.

5.90% of NASDAQ’s total wealth comes from games. 4.97% of the Hong Kong Stock Exchange’s total wealth comes from games. 2.99% of the Tokyo Stock Exchange’s total wealth comes from games. (These stock-exchanges, in turn, represent the world’s three largest economies.)

Top game companies by market value:

1.$379 billionApple (Cupertino | USA) NASDAQ
2.$309 billionTencent (Shenzhen | China) HKEX
3.$271 billionGoogle (Mountain View | USA) NASDAQ
4.$191 billionXbox (Redmond | USA) NASDAQ
5.$176 billionnVIDIA (Santa Clara | USA) NASDAQ
6.$76 billionNintendo (Kyoto | Japan) TSE
7.$72 billionActivision Blizzard (Santa Monica | USA) NASDAQ
8.$61 billionSea (Singapore | Singapore) NYSE
9.$57 billionNetease (Hangzhou | China) NASDAQ
10.$41 billionElectronic Arts (Redwood City | USA) NASDAQ
11.$39 billionRoblox (San Mateo | USA) NYSE
12.$37 billionPlayStation (Tokyo | Japan) TSE
13.$29 billionNexon (Tokyo | Japan) TSE
14.$28 billionUnity (San Francisco | USA) NYSE
15.$26 billionAMD (Santa Clara | USA) NASDAQ
16.$20 billionAppLovin (Palo Alto | USA) NASDAQ
17.$20 billionTake-Two Interactive (New York | USA) NASDAQ
18.$18 billionFacebook (Menlo Park | USA) NASDAQ
19.$17 billionBilibili (China) NASDAQ
20.$16 billionNCsoft (Seongnam | South Korea) KRX
21.$14 billionEmbracer (Karlstad | Sweden) Nasdaq Nordic
22.$11 billionZynga (San Francisco | USA) NASDAQ
23.$11 billionPlaytika (Herzliya | Israel) NASDAQ
24.$10 billionNetmarble (Seoul | South Korea) KRX
25.$9.8 billionGamestop (Grapevine | USA) NYSE
26.$9.6 billionUbisoft (Montreuil | France) Euronext
27.$8.9 billionCapcom (Osaka | Japan) TSE
28.$7.8 billion37 Interactive (Guangzhou | China) SZSE
29.$7.6 billionKoei Tecmo (Yokohama | Japan) TSE
30.$7.2 billionBandai Namco (Tokyo | Japan) TSE
31.$6.7 billionCentury Huatong (Shaoxing | China) SZSE
32.$6.7 billionSquare Enix (Tokyo | Japan) TSE
33.$6.4 billionKonami (Tokyo | Japan) TSE
34.$5.9 billionKingsoft (Beijing | China) HKEX
35.$5.9 billionSkillz (San Francisco | USA) NYSE
36.$5.5 billionWanmei (China) SZSE
37.$4.8 billionLogitech (Lausanne | Switzerland) NASDAQ
38.$4.8 billionG‑bits Network (Xiamen | China) SSE
39.$4.5 billionCD Projekt (Warsaw | Poland) WSE
40.$4.4 billionGiant (Shanghai | China) SZSE
41.$4.3 billionHuya (Guangzhou | China) NYSE
42.$3.9 billionRepublic of Gamers (Chinese Taipei) TWSE
43.$3.8 billionXD Network (Shanghai |China) HKEX
44.$3.8 billionKakao Games (Seongnam | South Korea) KOSDAQ
45.$3.7 billionStillfront (Stockholm | Sweden) Nasdaq Nordic
46.$3.7 billionAutodesk (San Rafael | USA) NASDAQ
47.$3.6 billionPearl Abyss (Anyang | South Korea) KOSDAQ
48.$3.3 billionDouYu (Wuhan | China) NASDAQ
49.$3.2 billionRazer (Singapore | Singapore) HKEX
50.$3.1 billionKeywords Studios (Dublin | Ireland) LSE
51.$3.0 billionCorsair (Fremont | USA) NASDAQ
52.$2.9 billionCyberAgent (Tokyo | Japan) TSE
53.$2.8 billionAlienware (Round Rock | USA) NYSE
54.$2.6 billionParadox (Stockholm | Sweden) Nasdaq Nordic
55.$2.5 billionSega Sammy (Tokyo | Japan) TSE
56.$2.2 billionSciPlay (Cedar Falls | USA) NASDAQ
57.$2.2 billionHasbro (Pawtucket | USA) NASDAQ
58.$2.2 billionGlu Mobile (San Francisco | USA) NASDAQ
59.$2.0 billionMail.ru (Moscow | Russia) LSE
60.$2.0 billionWB Games (Burbank | USA) NYSE
61.$1.9 billionYoozoo (Shanghai | China) SZSE
62.$1.9 billionIGG (Singapore) HKEX
63.$1.9 billionCom2us (Seoul | South Korea) KOSDAQ
64.$1.9 billionGungHo (Tokyo | Japan) TSE
65.$1.9 billionOurpalm (Beijing | China) SZSE
66.$1.9 billionInternational Games System (Chinese Taipei) TPEx
67.$1.7 billionFrontier Developments (Cambridge | England) LSE
68.$1.7 billionMTG (Stockholm | Sweden) Nasdaq Stockholm
69.$1.6 billionDeNA (Tokyo | Japan) TSE
70.$1.6 billionmixi (Tokyo | Japan) TSE
71.$1.4 billionKunlun Tech (Beijing | China) SZSE
72.$1.4 billionTeam17 (Wakefield | England) LSE
73.$1.4 billionArchosaur Games (Beijing | China) HKEX
74.$1.2 billionGREE (Tokyo | Japan) TSE
75.$1.2 billionKingnet (Shanghai | China) SZSE
76.$1.2 billionWebzen (Seongnam | South Korea) KOSDAQ
77.$1.1 billionEnad Global 7 (Stockholm | Sweden) Nasdaq Nordic
78.$1.1 billionDoubleU Games (Seoul | South Korea) KRX
79.$1.1 billionZhejiang Daily Digital (Hangzhou | China) SSE
80.$1.0 billionCMGE (Shenzhen | China) HKEX
81.$1.0 billionQihoo 360 (Beijing | China) SSE
82.$1.0 billionElectronic Soul (Hangzhou | China) SSE
83.$982 millionHuuuge Games (Warsaw | Poland) WSE
84.$957 millionEnthusiast Gaming (Toronto | Canada) TSX
85.$915 millionColopl (Tokyo | Japan) TSE
86.$887 millionTen Square Games (Wroclaw | Poland) WSE
87.$884 millionKaiser China Holding (Guangdong | China) SZSE
88.$881 millionNetDragon (Fuzhou | China) HKEX
89.$861 millionPlayWay (Warsaw | Poland) WSE
90.$851 millionWeMade (Seongnam | South Korea) KOSDAQ
91.$850 millionSumo Group (Sheffield | England) LSE
92.$831 millionGravity (Seoul | South Korea) NASDAQ
93.$808 millionYaoji Tech (China) SZSE
94.$787 millionHomeland ITL (Xiamen | China) HKEX
95.$781 millionMedia and Games Invest (Hamburg | Germany) FSE
96.$774 millionBAIOO Family (Guangzhou | China) HKEX
97.$761 millionFriendTimes (Suzhou | China) HKEX
98.$756 millionAcer (Chinese Taipei) TWSE
99.$742 millionRemedy (Espoo | Finland) Nasdaq Nordic
100.$731 millionNeptune (Seongnam | South Korea) KOSDAQ
101.$713 milliontinyBuild (Bellevue | USA) LSE
102.$702 millionNacon (Fretin | France) Euronext
103.$687 millionUltrapower Software (Beijing | China) SZSE
104.$684 millionNazara (Mumbai | India) NSE
105.$662 millionGameloft (Paris | France) Euronext
106.$646 millionRovio (Espoo | Finland) Nasdaq Helsinki
107.$632 millionBoton Belt (Wuxi | China) SZSE
108.$592 millioniDreamsky Technology (Shenzhen | China) HKEX
109.$555 millionG5 (Stockholm | Sweden) Nasdaq Nordic
110.$537 millionSohu (Beijing | China) NASDAQ
111.$534 millionAkatsuki (Tokyo | Japan) TSE
112.$532 millionPCF Group (Warsaw | Poland) WSE
113.$531 millionSoft-World (Chinese Taipei) TPEx
114.$528 millionShunwang Tech (Hangzhou | China) SZSE
115.$522 millionThunderful (Gothenburg | Sweden) Nasdaq Nordic
116.$487 millionThumbAge (Seongnam | South Korea) KOSDAQ
117.$476 millionNeowiz (Seongnam | South Korea) KOSDAQ
118.$464 millionNexon GT (Seongnam | South Korea) KOSDAQ
119.$461 millionBigben Interactive (Fretin | France) Euronext
120.$454 millionTurtle Beach (White Plains | USA) NASDAQ
121.$446 millionFocus Home Interactive (Paris | France) Euronext
122.$442 millionShenzhen Bingchuan (Shenzhen | China) SZSE
123.$433 millionSNK (Osaka | Japan) KASDAQ
124.$426 millionDalian Zeus Entertainment (Beijing | China) SZSE
125.$406 millionGamania (Chinese Taipei) TPEx
126.$406 millionDigital Bros (Milano | Italy) Borsa Italiana
127.$404 millionFuchun Technology (Fuzhou | China) SZSE
128.$396 millionHifuture Electric (Shenzhen | China) SZSE
129.$390 millionJoyCity (Seongnam | South Korea) KOSDAQ
130.$388 millionMarvelous (Tokyo | Japan) TSE
131.$366 millionNat Games (Seoul | South Korea) KOSDAQ
132.$363 millionShengxunda Technology (Shenzhen | China) SZSE
133.$346 millionDasheng Times Cultural (Shenzhen | China) SSE
134.$344 millionThe9, Ltd. (Shanghai | China) NASDAQ
135.$341 millionMotorsport Games (Miami | USA) NASDAQ
136.$337 milliongumi (Tokyo | Japan) TSE
137.$334 million11 bit studios (Warsaw | Poland) WSE
138.$311 millionX-Legend Entertainment (Chinese Taipei) TWSE
139.$310 millionAsetek (Aalborg | Norway) Oslo Børs
140.$299 millionGamevil (Seoul | South Korea) KOSDAQ
141.$286 millionKLab (Tokyo | Japan) TSE
142.$266 millionLEAF Mobile (Vancouver | Canada) TSX
143.$254 millionMorningstar (Dalian | China) SZSE
144.$253 millionColy (Tokyo | Japan) TSE
145.$251 millionAtari (Paris | France) Euronext
146.$244 millionGuillemot Corporation (Chantepie | France) Euronext
147.$242 millionTangel Culture (Changsha | China) SZSE
148.$241 millionTianrun Digital Entertainment (Hunan | China) SZSE
149.$240 millionEGLS (Zhejiang | China) SZSE
150.$217 millionTalkweb (Hunan | China) SZSE
151.$211 millionZNHI (Jiangyin | China) SZSE
152.$200 millionDrecom (Tokyo | Japan) TSE
153.$196 millionMe2On (Seoul | South Korea) KOSDAQ
154.$196 millionFractal (Gothenburg | Sweden) Nasdaq Nordic
155.$195 millionRastar (Guangzhou | China) SZSE
156.$195 millionJinke Culture (Hangzhou | China) SZSE
157.$167 millionDONTNOD (Paris | France) Euronext
158.$167 millionZQGame (Shenzhen | China) SZSE
159.$166 millionZengame Tech (Shenzhen | China) HKEX
160.$166 millionYuanli Active (Nanping | China) SZSE
161.$165 millionChinese Gamer International (Chinese Taipei) TPEx
162.$162 millionCreepy Jar (Warsaw | Poland) WSE
163.$157 millionAll in! Games (Krakow | Poland) WSE
164.$152 millionJuli Culture (China) SZSE
165.$151 millionSurfilter Network Tech (Shenzhen | China) SZSE
166.$143 millionMgame (Seoul | South Korea) KOSDAQ
167.$143 millionHanbit Soft (Seoul | South Korea) KOSDAQ
168.$140 millionChengdu B-ray Media (Chengdu | China) SSE
169.$139 millionAiming (Tokyo | Japan) TSE
170.$139 millionBenoholdings (Seoul | South Korea) KOSDAQ
171.$132 millionUserjoy Technology (Chinese Taipei) TPEx
172.$132 millionPlay Magnus (Oslo | Norway) Euronext
173.$131 millionMAG (Stockholm | Sweden) Nasdaq Nordic
174.$129 millionGameWith (Tokyo | Japan) TSE
175.$123 millionZordix (Umeå | Sweden) NGM
176.$121 millionCultural Investment Holdings (Beijing | China) SSE
177.$119 millionSLG (Santa Monica | USA) NASDAQ
178.$116 millionMobile Factory (Tokyo | Japan) TSE
179.$116 millionFunko (Everett | USA) NASDAQ
180.$114 millionSoftstar (Chinese Taipei) TPEx
181.$114 millionFingerTango (Guangzhou | China) HKEX
182.$114 millionBank of Innovation (Tokyo | Japan) TSE
183.$113 millionTobii (Stockholm | Sweden) Nasdaq Stockholm
184.$108 millionSino-Entertainment (China) HKEX
185.$102 millionDinglong Culture (China) SZSE
186.$101 millionHappinet (Tokyo | Japan) TSE
187.$100 millionStarbreeze (Stockholm | Sweden) Nasdaq Stockholm
188.$98 millionAsiasoft (Bangkok | Thailand) SET
189.$97 millionBewinner Communications (Beijing | China) SZSE
190.$95 millionActoz Soft (Seoul | South Korea) KOSDAQ
191.$94 millionBoomBit (Gdansk | Poland) WSE
192.$93 millionFlexion Mobile (London | England) Nasdaq Nordic
193.$92 millionPlaySide Studios (Melbourne | Australia) ASX
194.$89 millionThe Farm 51 (Gliwice | Poland) NewConnect
195.$81 millionOne More Level (Krakow | Poland) NewConnect
196.$81 millionBloober Team (Krakow | Poland) NewConnect
197.$80 millionAteam (Nagoya | Japan) TSE
198.$77 millionNext Games (Helsinki | Finland) Nasdaq Nordic
199.$76 millionAltPlus (Tokyo | Japan) TSE
200.$72 millionMacroWell OMG Digital (Chinese Taipei) TPEx
201.$67 millionCI Games (Warsaw | Poland) WSE
202.$66 millionFeiYu (Guilin | China) HKEX
203.$65 millionMynet (Tokyo | Japan) TSE
204.$64 millionEnish (Tokyo | Japan) TSE
205.$62 millionQiiwi Games (Alingsås | Sweden) Nasdaq Nordic
206.$59 millionHunan TV & Broadcast (Changsha | China) SZSE
207.$59 millionWayi (Chinese Taipei) TPEx
208.$59 millionMovie Games (Warsaw | Poland) NewConnect
209.$58 millionTose (Kyoto | Japan) TSE
210.$57 millionForever (Gdynia | Poland) NewConnect
211.$54 millionBoyaa (Shenzhen | China) HKEX
212.$54 millionCave (Tokyo | Japan) TSE
213.$54 millionGfinity (London | England) LSE
214.$53 millionArtifex Mundi (Katowice | Poland) WSE
215.$52 millionPopReach (Toronto| Canada) TSXV
216.$52 millionNippon Ichi Software (Kakamigahara | Japan) TSE
217.$52 millionCyberstep (Tokyo | Japan) TSE
218.$46 millionKopin (Westborough | USA) NASDAQ
219.$43 millionLinekong Interactive (Beijing | China) HKEX
220.$42 millionLianzhong (Beijing | China) HKEX
221.$42 millionUltimate Games (Warsaw | Poland) WSE
222.$41 millionBlue Hat Interactive (Xiamen | China) NASDAQ
223.$41 millionGuild Esports (London | England) LSE
224.$40 millionSimFabric (Warsaw | Poland) NewConnect
225.$40 millionStarward Industries (Krakaw | Poland) NewConnect
226.$40 millionImmersion (San Jose | USA) NASDAQ
227.$39 millionDatang Telecom Technology (Beijing | China) SSE
228.$38 millionYuke’s (Tokyo | Japan) TSE
229.$37 millionAlpha Group (Guangzhou | China) SZSE
230.$36 millionMobcast (Tokyo | Japan) TSE
231.$32 millionBublar Group (Stockholm | Sweden) Nasdaq Nordic
232.$32 millionJiu Zun Digital (Guangzhou | China) HKEX
233.$32 millionSafe Lane Gaming (Stockholm | Sweden) NGM
234.$32 millionSilicon Studio (Tokyo | Japan) TSE
235.$29 millionMighty Kingdom (Adelaide | Australia) ASX
236.$28 millionCreativeForge (Warsaw | Poland) NewConnect
237.$25 millionGames Operators (Warsaw | Poland) WSE
238.$25 millionStar Vault (Malmö | Sweden) NGM
239.$25 millionDigital Hollywood (Guangzhou | China) HKEX
240.$24 millionForgame (Guangzhou | China) HKEX
241.$24 millionA8 New Media Group (Shenzhen | China) HKEX
242.$22 millionInterServ (Chinese Taipei) TPEx
243.$21 millionPyramidGames (Lublin | Poland) NewConnect
244.$21 millionGaming Factory (Warsaw | Poland) WSE
245.$21 millionCarbon Studio (Chorzow | Poland) NewConnect
246.$20 millionFuRyu (Tokyo | Japan) TSE
247.$19 millionIncuvo (Katowice | Poland) NewConnect
248.$16 millionMomo (Beijing | China) NASDAQ
249.$15 millionGaming Corps (Uppsala | Sweden) Nasdaq Nordic
250.$14 millionCherrypick Games (Warsaw | Poland) NewConnect
251.$12 millionVivid Games (Bydgoszcz | Poland) WSE
252.$11 millionJumpgate (Visby | Sweden) NGM
253.$10 millionECC Games (Warsaw | Poland) NewConnect
254.$10 million5th Planet Games (Copenhagen | Denmark) Euronext
255.$10 millionU9Game (Shanghai | China) SSE
256.$9.7 millionKool2Play (Warsaw | Poland) NewConnect
257.$9.7 millionKlabater (Warsaw | Poland) NewConnect
258.$9.4 millionVARSAV (Warsaw | Poland) NewConnect
259.$9.3 millionQubicGames (Siedlce | Poland) NewConnect
260.$9.3 millionGame Chest (Stockholm | Sweden) NGM
261.$8.7 millionSkinwallet (Szczecin | Poland) NewConnect
262.$8.1 millionPlay2Chill (Warsaw | Poland) NewConnect
263.$7.8 millionNo Gravity Games (Warsaw | Poland) NewConnect
264.$7.7 millionBTC Studios (Warsaw | Poland) NewConnect
265.$7.7 millionDuality Games (Warsaw | Poland) NewConnect
266.$7.6 millionThe Dust (Wroclaw | Poland) NewConnect
267.$7.5 millionDraw Distance (Krakaw | Poland) NewConnect
268.$7.4 millionNitro Games (Kotka | Finland) Nasdaq Nordic
269$7.3 millionSimteract (Lublin | Poland) NewConnect
270.$7.1 millionT-Bull (Wroclaw | Poland) WSE
271.$6.9 millionSonka (Warsaw | Poland) NewConnect
272.$6.7 millionGameone Holdings (Hong Kong) HKEX
273.$6.5 millionOvid Works (Warsaw | Poland) NewConnect
274.$6.3 millionPolyslash (Krakow | Poland) NewConnect
275.$6.1 millionMoonlit (Krakaw | Poland) NewConnect
276.$6.0 millionUnited Label Games (Warsaw | Poland) NewConnect
277.$4.9 millionJujubee (Katowice | Poland) NewConnect
278.$4.3 millionGold Town Games (Skellefteå | Sweden) NGM
279.$3.9 million7LEVELS (Krakaw | Poland) NewConnect
280.$3.5 millionDetalion Games (Warsaw | Poland) NewConnect
281.$3.3 millionMeisheng Cultural (Hangzhou | China) SZSE
282.$3.2 millionArt Games Studio (Warsaw | Poland) NewConnect
283.$3.1 millionAtomic Jelly (Poznan | Poland) NewConnect
284.$3.1 millionShockwork Games (Lublin | Poland) NewConnect
285.$2.5 millionRed Dev Studio (Olsztyn | Poland) NewConnect
286.$2.0 millionHuckleberry Games (Ponzan | Poland) NewConnect
287.$1.8 millionDrageus Games (Warsaw | Poland) NewConnect
288.$1.4 millionFalcon Games (Warsaw | Poland) NewConnect
289.$1.4 millionPrime Bit Games (Rzeszow | Poland) NewConnect
290.$0.8 millionMacro Games (Wroclaw | Poland) NewConnect
(as of market-close on 23 April 2021)

Notes:

— share prices fluctuate by the moment, as do currency exchange-rates. This monograph is intended as a snapshot-in-time that shows the last twelve months, and gives guidance on what the next twelve months may look like based on current positions.

— all prices in US Dollars as of market close on 23 April 2021.

— SPACs are currently in-process for IronSource at an $11.1 billion valuation, Nexters at a $1.9 billion valuation, and Playstudios at a $1.1 billion valuation.

— new public offerings will continue for the foreseeable future. Krafton applied to KRX on 8 April 2021.

— as of 30 April 2021, Glu Mobile has been de-listed from NASDAQ.

— private companies are not included in this valuation. (If the world’s most valuable game developer has a private valuation of $28 billion, that represents 1.28% of the total current public market. Pre-IPO valuations are not significant in aggregate.)

— stock exchanges note that individual companies may have other share classes not listed on their exchange; while a decidedly rare possibility, that would make the total market valuation higher than is listed here.

— numbers posted by companies may be audited, or unaudited.

— this instrument covers the globe, and each element of the game-industry value-chain.

— this instrument excludes gambling companies.

— because of language barriers and reporting issues, the data from China may be a cycle behind, and still representatively accurate.

— the author would like to thank Dr. Stacy Ragson of Bernstein, Rick Schafer and Wei Mok of Oppenheimer, Brett Simpson of Arete, Matt Bryson of Wedbush, and Tristan Gerra of Baird.

— while there are potential errors in any detail, the combined depiction is wholly accurate.

Analysis

— game usage occurs everywhere on earth; game development is equally represented. Only 22 of the world’s countries, some 11%, have a publicly-listed game company. Spread across 20 different exchanges, those markets are domiciled in only 15 different countries. This shows a strong concentration of value for what is a universal activity.

— East Asia has the most public game companies, with 150 measured here (more than half of the 290 total). Europe has 104 (more than a third, and fifty-eight of those in Poland alone). The US has 29 public game companies, just 10%. The remaining seven are in Australia, Canada, Israel, and India. Number of companies-per-country does not correlate to a higher total market value. Further, there are no listed companies from Latin America or Africa.

— China has more public game companies than any country on earth. In 2017, there were over a hundred listed on the National Equities Exchange and Quotations. There’s no perfect data for such a large, complex, important market. This valuation sampled seventy-five top Chinese companies across the stock-exchanges Hong Kong, Shenszen, Shanghai, New York and NASDAQ. No game industry monograph is accurate without calculating China; this report is likely to under-report.

— there are 82 companies with market-capitalizations above one billion dollars. This number is likely to increase in two ways: the other two-hundred-eight companies on this list can grow annually, and new companies can be offer on public markets.

— In 2010, a defunct investment bank gave a presentation at a local festival. There’s no record of the data and methodology, but a trade-paper quoted the speech. The claim was: the global game industry market cap was $105 billion. Today’s total-industry-valuation of $2.1 trillion from Games One is definitive. An interesting, if speculative notion, that the sector achieved more than 20x growth in the last decade.

Conclusion:

In 2008, games proved recession-proof. In 2020, games proved pandemic-proof. We can forecast that, pending an extinction-level event, the game industry will forever prosper.

Terms of Use: the 290 public game companies listed above have full license to use this report. Journalists may reproduce the report in part for news purposes. Securities analysts may reproduce in part or in whole, with proper credit. Investment bankers may not use the data without prior written permission. This work is protected by copyright. Charging for this information is prohibited. Market research firms are prohibited from using this information. Statista is particularly prohibited from using this data in any form. Any other use requires permission. By accessing this site, you agree to the above terms.

Analyst disclosure: the author of this report has no ownership of any of the securities listed, and has no plans to take a position in the future. Games Ône does business with – and seeks to do business with – every company in the interactive entertainment sector.

Authored by Evan Van Zelfden, Analyst and Managing Director, Games Ône  

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Copyright © 2021, by Evan Van Zelfden. All Rights Reserved.