Global Video Gaming: The State of Play, 2026 - a deep dive on global industry trends

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Global Video Gaming: The State of Play, 2026 - a deep dive on global industry trends

22 June 2026

Global Video Gaming

Global Video Gaming: The State of Play, 2026 - a deep dive on

global industry trends

We estimate $220bn of industry revenue in 2026. This note represents our annual Robin Zhu

+852 2123 2659 deep dive on global video gaming industry revenues. While we typically argue video

robin.zhu@bernsteinsg.com gaming assets are best analysed bottom-up, there is value in maintaining some top-down

perspective. We also zoom in on some key industry debates.

Charles Gou

+852 2123 2618 The back half of the capital cycle. Our global video gaming industry model incorporates charles.gou@bernsteinsg.com

top-down estimates by platform and region, and our quarterly tracker of revenue trends

across 28 listed video gaming companies. For 2025, we estimated $218bn of industry Min-Joo Kang

+852 2123 2644 revenue, 4.8% higher year on year. We’ve modelled 0.7% growth in 2026, followed by 3.3%

minjoo.kang@bernsteinsg.com growth in 2027. But the bigger story is consolidation across the industry, with the listed

cohort expected to grow c. 7-8% this year, and a growing number of (overdue) Western

Hyrum Caesar studio closures thinning the competitive landscape. +81 3 6777 6979

hyrum.caesar@bernsteinsg.com

Could GTA VI be a clearing event for the industry? Our main takeaway from summer

showcase season was simply the extent to which the industry’s desire to avoid competing

with GTA VI had forced everyone into a logjam of new game releases in September. The

crowding raises the risk of near-term sales disappointments, especially for games not

backed by strong developer or IP credibility. But with investor expectations for GTA VI