The past 3 years have marked a cycle of robust investments and growing deal activity, which has far exceeded previous periods, and transformed the gaming industry landscape. While 2020 and 2021 turned out to be mostly vibrant and glorious for the games industry, 2022 has seen the correction of the market, exacerbating its cooling conditions: the current lumpish macroeconomic situation, post-pandemic user engagement changes, post-IDFA pressure, increased regulatory scrutiny, release dates shifts, supply chain issues, and other factors.
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— In 2022, we have registered 782 closed deals with an overall deal value of $55.7B, or $128.8B.
— M&A activity saw continued growth, reaching its peak in 2022, with over $41B in the closed deals’ value and additional ~$70B of announced deals. One more notable trend in the M&A market is a shift from public acquirers (with much lower trading multiples than 12 months ago) towards private acquirers (with enough cash firepower).
— There’s been a truly unparalleled inflow of VC and Corporate investments in the industry recently, surpassing any previous historical levels in both number (over 1460) and value ($28B) of deals. 2022 has seen 538 deals worth $10.1B, which is less than in 2021 (562 deals worth $12B).
— The peak of Public Offerings was reached in 2021, while the following year was marked by a decline in activity. This trend is expected to continue in 2023, with the IPO and SPAC windows remaining closed, and PIPEs becoming less frequent due to low trading multiples.
Inside you’ll also find the traditional Web3 Gaming section, the 3 Most Active VC lists (2022, 2020-2022, Web3), the Top 15 M&A Control Deals in Gaming, a map of all the closed control M&A transactions, Top 15 Closed Deals with the Biggest Global Media Coverage, Gaming Founders/Leaders Gender Diversity breakdown, and much more.
We would love to thank our friends from Hiro Capital for supporting this Report, our colleagues from Naavik for helping us out with the Web3 gaming analysis, and a special thank you to White Label PR agency for connecting us with top tier media outlets!