Aream & Co. Gaming CEO Survey 2026

Confident
ial
Survey conducted in December 2025
Based on responses from ~80 gaming CEOs across mobile and PC/console sectors
Gaming
CEO Survey

Confidential
MARKET OUTLOOK

M A R K E T O U T LO O K :
How optimistic are you about the
evolution of consumer spending
on gaming in 2026?
38%
55%
8%
MORE
OPTIMISTIC
ABOUT
THE SAME
LESS
OPTIMISTIC
51%
43%
5%
P C / C O N S O L E –
F O C U S E D
M O B I L E –
F O C U S E D
% OF CEO
RESPONDENTS

Confidential
MOBILE MARKET OUTLOOK
Section answered by mobile -focused CEOs only

23%
68%
10%
30%
70%
0%
DOUBLE – DIGIT
GROWTH
MORE OR LESS
STABLE
DECLINING
IN -A P P
P U R C H A S E S
R E V E N U E
What is your outlook for mobile
gaming revenue in 2026?
M O B I L E M A R K E T O U T LO O K :
IN -A P P
A D V E R T I S I N G
R E V E N U E
% OF MOBILE CEO
RESPONDENTS

58%
55%
40%
38%
33%
M O B I L E M A R K E T O U T LO O K :
What do you see as the biggest
growth opportunities for the
mobile gaming industry in 2026?
DIRECT -TO -CONSUMER /
WEBSHOPS IMPROVING MARGINS
AI -DRIVEN WORKFLOWS ENABLING
FASTER ITERATION
MORE BREAKOUT MOBILE HITS
MARKETING INNOVATIONS /
NEW UA CHANNELS
GROWING CONSUMER SPEND IN
APAC, LATAM, MENA
Note: multiple answered allowed
% OF MOBILE CEO
RESPONDENTS

73%
63%
38%
30%
23%
20%
M O B I L E M A R K E T O U T LO O K :
What do you see as the biggest
challenges for the mobile gaming
industry in 2026?
CHALLENGING UA /
MARKETING ENVIRONMENT
COMPETITION FOR USER ATTENTION
FROM OTHER FORMS OR MEDIA
CONTENT SATURATION /
OVERSUPPLY
DOMINANCE OF A FEW TOP –
GROSSING TITLES
REGULATORY UNCERTAINTY
RISING PRODUCTION COSTS /
TALENT CONSTRAINTS
Note: multiple answered allowed
% OF MOBILE CEO
RESPONDENTS

Confidential
PC/CONSOLE MARKET OUTLOOK
Section answered by PC/Console -focused CEOs only

43%
51%
5%
19%
68%
14%
F R E E -TO – P L AY
( G A A S /
L I V E O P S )
P R E M I U M
( F U L L -P R I C E /
PA I D D L C s)
What is your outlook for PC
/Console gaming revenue in 2026?
P C / CO N S O L E M A R K E T O U T LO O K :
DOUBLE – DIGIT
GROWTH
MORE OR LESS
STABLE
DECLINING
% OF PC/CONSOLE CEO
RESPONDENTS

78%
62%
43%
24%
8%
MORE BREAKOUT INDIE HITS
UGC / MODS GAMING CONTENT
AI -DRIVEN WORKFLOWS ENABLING
FASTER EXECUTION
CONSOLES HANDHELD DEVICES
ESPORTS / COMPETITIVE GAMING
What do you see as the biggest
growth opportunities for the
PC/Console industry in 2026?
P C / CO N S O L E M A R K E T O U T LO O K :
Note: multiple answered allowed
% OF PC/CONSOLE
CEO RESPONDENTS

Note: multiple answered allowed
P C / CO N S O L E M A R K E T O U T LO O K :
What do you see as the biggest
challenges for the PC/Console
industry heading into 2026?
CONTENT SATURATION /
OVERSUPPLY
DOMINANCE OF A FEW TOP -GROSSING
TITLES / NO NEW ENTRANTS
COMPETITION FOR CONSUMER
ATTENTION FROM OTHER FORMS OF
MEDIA / ENTERTAINMENT
RISING PRODUCTION COSTS /
TALENT CONSTRAINTS
REGULATORY UNCERTAINTY
73%
68%
62%
32%
5%
% OF PC/CONSOLE
CEO RESPONDENTS

Confidential
COMPANY – SPECIFIC OUTLOOK

CO M PA N Y O U T LO O K :
What are your company’s primary
revenue growth levers for 2026?
NEW GAME LAUNCHES
BETTER RETETION / LIVEOPS
HIGHER MONETIZATION /
ARPU
IMPROVED MARKETING /
UA EFFICIENCY
GEOGRAPHIC EXPANSION
72%
64%
56%
54%
15%
10%
“Cross -platform expansion”
“User generated content”
Note: multiple answered allowed
OTHER (FREE -TEXT RESPONSE)
% OF MOBILE CEO
RESPONDENTS

DLCs/LIVE OPS CONTNET
RELEASES
NEW GAME LAUNCHES
SEQUEL /
FRANCHISE RELEASE
GEOGRAPHIC EXPANSION
CROSS /
MULTI PLATFORM EXPANSION
CO M PA N Y O U T LO O K :
What are your company’s primary
revenue growth levers for 2026?
OTHER (FREE -TEXT RESPONSE)
Note: multiple answered allowed
64%
61%
31%
19%
11%
11%
“back -catalogue”
“acquisition and optimization
of other online games”
% OF PC/CONSOLE
CEO RESPONDENTS

93%
33%
30%
13%
0%
PERFORMANCE MARKETING
REWARDED TRAFFIC /
OFFERWALLS
SOCIAL PLATFORMS /
INFLUENCERS
ASO /
BRAND MARKETING
CONNECTED TV
CO M PA N Y O U T LO O K :
Which marketing channels are
you prioritizing in 2026?
Note: multiple answered allowed
% OF MOBILE CEO
RESPONDENTS

64%
39%
28%
14%
8%
CO M PA N Y O U T LO O K :
COMMUNITY BUILDING
(DISCORD, REDDIT)
SOCIAL PLATFORMS /
INFLUENCERS
STEAM SALES /
ALGORITHMS
PUBLISHER MARKETING
SUPPORT
OTHER (FREE -TEXT RESPONSE)
“trade shows / events”
“subscription platforms”
“programmatic ads”
Which marketing channels are
you prioritizing in 2026?
Note: multiple answered allowed
% OF PC/CONSOLE
CEO RESPONDENTS

45%
43%
13%
GROW
HEADCOUNT
MAINTAIN
CURRENT LEVEL
REDUCE
HEADCOUNT
44%
33%
22%
H R O U T LO O K :
How do you anticipate your
headcount to change in 2026?
P C / C O N S O L E –
F O C U S E D
M O B I L E –
F O C U S E D
% OF CEO
RESPONDENTS

50%
48%
3%
0%
ADVANCED INTEGRATION
ACROSS MULTIPLE
FUNCTIONS
LIMITED IMPLEMENTATION
WITHIN SELECT USE
CASE(S)
EARLY DAYS /
PILOT PHASE
14%
49%
24%
14%
A I S T R AT E GY:
What is the current stage of AI
adoption within your organization?
NOT USING /
VERY LIMITED
P C / C O N S O L E –
F O C U S E D
M O B I L E –
F O C U S E D
% OF CEO
RESPONDENTS

A I S T R AT E GY:
Where do you expect AI to deliver
the most benefits to your business
in 2026?
ART /
GAME DESIGN
ENGINEERING /
CODING
MARKETING /
UA
ANALYTICS /
BI
QUALITY ASSURANCE /
TESTING
36%
31%
18%
13%
3%
Note: multiple answered allowed
% OF MOBILE CEO
RESPONDENTS

31%
20%
17%
11%
11%
A I S T R AT E GY:
Where do you expect AI to deliver
the most benefits to your business
in 2026?
“Enhanced development tools”
“General workflow”
“Internal tools”
ENGINEERING /
CODING
ANALYTICS /
BI
QUALITY ASSURANCE /
TESTING
NARRATIVE /
ART
OTHER (FREE -TEXT RESPONSE)
Note: multiple answered allowed
% OF PC/CONSOLE
CEO RESPONDENTS

Confident
ial

global, independent investment
bank specialized in gaming and
interactive entertainment
COMPANY SNAPSHOT
M&A AND FINANCING
TRANSACTIONS
105
TRANSACTION VALUE
$38bn+
YEARS SUPPORTING THE
GAMING ECOSYSTEM
10+
GAMING BANK ERS
23
S A N F R A N C I S C O
B E R L I N
WORLDWIDE COVERAGE
S I N G A P O R E
L O N D O N

t ransaction activity in 2025
GAMING
TRANSACTIONS
8
$4bn+
TRANSACTION
VALUE
Investment from
$53+ million
November 2025
Debt financing to
August 2025
Sale to
$800 million
July 2025
Sale of selected assets
to
$53+ million
November 2025
Acquisition of
February 2025
Acquisition of
up to $820 million
February 2025
Sale to
$1.2 billion
February 2025
Sale to
February 2025
Note: Transaction values include upfront and earnout considerations

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