The PC & Console Gaming Report 2025
Download PDFThe PC & ConsoleGaming Report2025
The content of this report is created with due care by Newzoo and protected by copyrights.This report, or any portion thereof, may not be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, or used in any manner whatsoever, without the express written permission of Newzoo. Reproducing, distributing, and/or transmitting this report, or any portion thereof, for commercial purposes is explicitly not allowed.Copyright & redistribution notice©2025 Newzoo. All rights reserved.2
3ContentsThe PC and console market outlook10Playtime analysis19How many games do we really play?43Special topic: Recursive nostalgia68Special topic: Steam visibility80What’s Next?90
Spyros GeorgiouDesign LeadMeet the authors of this report4Emmanuel RosierDirector of Market IntelligenceBen PorterDirector of ConsultingMichiel BuijsmanPrincipal Market AnalystHoratiu MituDirector of MarketingTy l e r L o n gDirector of Product Michael WagnerSenior Market AnalystBrett HuntMarket AnalystSiyi ZhangDesign InternLy n n va n d e n H ove nMarketing Specialist
5The state of PC and console gaming in 2025In a rapidly evolving market filled with speculation and opinion, it’s essential to cut through the noise with clear, data-driven insights. At Newzoo, we leverage rigorous analysis and industry-leading data science to deliver the most comprehensive and accurate snapshot of the PC and console gaming landscape, empowering you to navigate challenges and capture emerging opportunities.In this report, we first examine the market’s performance in 2024. We then examine how upcoming game releases, changing consumer behaviors, and monetization strategies will shape the market toward 2027. Building on last year’s groundbreaking Playtime Analysis, we present an updated, in-depth look at how player engagement has evolved across PC, PlayStation, and Xbox since the pandemic.We’re particularly excited to introduce our new section, “How Many Games Do We Really Play?”, which investigates the exact number of games players actively engage with and their willingness to invest at different price points across platforms.Additionally, our Special Focus Topics offer deeper insights into key market dynamics:We l c o m e to t h e t h i r d e d i t i o n o f N ew z o o ’ s a n n u a l P C a n d c o n s o l e r e p o r t .By the end of this report, you’ll be equipped with actionable insights into monetization strategies, player engagement trends, platform-specific nuances, and effective discoverability tactics.This free resource draws from the Newzoo Platform, focusing on the Game Performance Monitor, with supporting data and insights from all our tools. We also delve into our Games Market Reports and Forecasts for valuable market context.We hope you enjoy reading it as much as we loved writing it. Thanks for tuning in.üRecursive Nostalgia: Explore how major live-service games leverage their histories to drive ongoing player engagement through nostalgic experiences.üSteam Visibility: Gain actionable insights into discoverability, identifying best practices for standing out in Steam’s increasingly competitive marketplace.Emmanuel RosierDirector of Market Intelligence
6Key takeaways PC & console market outlookHow many gamesdo we really play?üPC popularity remains stable with muted revenue growth, while console revenue growth will be driven by GTA VI and Nintendo Switch 2üAll business models are viable, but not at the same scale on every platformüBarring radical outliers, titles’ growth to come from share shiftRecursive nostalgiaSteam visibilityüReintroducing “classic” content can reignite interest but often lacks long-term staying powerüCompanies that successfully leverage nostalgia use it as part of a future-oriented strategy to sustain player interest rather than a one-off tacticüDiscounting events are driving less visibility to store pagesüOff platform traffic grows in importance as discounting becomes less effective at drawing steam page viewsüNumber of games played is down on Xbox and Steam from COVID peaküPlay habits are calcifying into fewer games, reducing addressable market for new launchesüF2P drives significant interest, but players are often very quick to churnüAdventure and Role playing titles are on the rise for those who enjoy playing more titlesPlaytime analysisüOverall playtime hours are growing but concentrated in AAA and at times cannibalistic; the battle for audience hours is fierce and near zero sumüPC skews heavily towards older, F2P titles while console is slate dependent üLaunching a successful F2P game requires a combination of strong IP, great gameplay, and favorable market conditions
Written by Newzoo’s market analystsPowered by data from our Platform7Ta k e a p l a t f o r m t o u r
Yo u r l e a d i n g d a t a p l a t f o r m a n d p a r t n e r i n P C & c o n s o l e g a m i n g Genre deep dives and game teardownsTarget audiencesizing & analysisLive service gamestrategyGame concepttestingCampaignanalysisConcept TAM andsales forecastingGame Performance MonitorTitle-level engagement (MAU, DAU, playtime, churn, more) and digital revenue data for thousands of PC & console games.Business & Store IntelligenceComplete toolkit for optimizing games’ store presence, improving discoverability, and tracking marketing attribution.NEWGame Health TrackerGlobal Gamer StudyTitle-level consumer insights, awareness and purchase funnelYearly in-depth survey profiling 73.000 gamers worldwideMarket Reports and ForecastsGames market sizing & forecasts for 100+ countries and the key trends on a global and local level.Consulting & Custom ResearchTailored solutions to critical business challenges.NewzooPlatform
Tr u s t e d by t h e t o p g a m e d eve l o p e r s a n d p u b l i s h e r s9
The PC and console market outlook
11Overall market growth to 2027 driven predominantly by consoleSource: Newzoo Games Market Reports and Forecasts | Updated February 2025$55.9B$57.9B$60.9B$69.6B$67.6B$80.9B$81.7B$78.6B$81.9B$80.2B$85.2B$89.7B$92.7B20 1520 1620 1720 1820 1920 2020 2120 2220 2320 24F20 25 F20 26 F20 27 F2015 – 2018PC: +1.8% | Console: +13.4%2018 – 2021PC: +5.2% | Console: +5.7%2021 – 2024PC: +1.2% | Console: -2.1%2024 – 2027PC: +2.6% | Console: +7.0%PC and console software revenues in billion USDGlobal | 2015-2027FPC & console revenue
12PC’s gradual growth carried by and concentrated in evergreen titlesSource: Newzoo Games Market Reports and Forecasts | Updated February 20252015-2018PC: +1.8%Console: +13.4%2018-2021PC: +5.2%Console: +5.7%2024-2027PC: +2.6%Console: +7.0%2021-2024PC: +1.2%Console: -2.1%1.Gradual, lower single-digit growth driven by in-game revenues from mature and mostly free-to-play titles2.Sporadic premium titles can boost revenues, but PCs stronger free-to-play skew dampens this effect3.Limited player growth requires monetizing existing but cost-conscious players4.Gen Z’s and Alpha’s enthusiasm is growing, but spending is still lagging$29.4B$29.8B$30.2B$31.0B$30.4B$33.5B$36.1B$35.4B$37.3B$37.3B$37.9B$39.4B$40.4B$55.9B$57.9B$60.9B$69.6B$67.6B$80.9B$81.7B$78.6B$81.9B$80.2B$85.2B$89.7B$92.7B2015201620172018201920202021202220232024 F2025F2026F2027FData updated February 2025PCConsoleOur revenues encompass consumer spending on games: physical and digital full-game copies, in-game spending, and subscription services like Xbox Game Pass. Mobile revenues exclude advertising. Our estimates exclude taxes, secondhand trade or secondary markets, advertising revenues earned in and around games, console and peripheral hardware, B2B services, and the online gambling and betting industry.
58%28%14%132024 PC: MTX and DLC were up in a stagnant marketShare of yearly PC revenues by business modelGlobal | 2024Source: Newzoo Games Market Reports and Forecasts | Updated February 2025+0.1% Yo Y$37.3B-2.6% Yo Y$10.7BPremium+0.8% Yo Y$5.3BDLC+1.4% Yo Y$24.4BMTXMTX 1.4% DLC 0.8% Call of Duty:BO 6ROBLOXFortniteDIABLO IVElden RingWorld of Warcraft
$26.4B$28.2B$30.7B$38.6B$37.2B$47.4B$45.6B$43.3B$44.6B$42.8B$47.3B$50.2B$52.4B$55.9B$57.9B$60.9B$69.6B$67.6B$80.9B$81.7B$78.6B$81.9B$80.2B$85.2B$89.7B$92.7B2015201620172018201920202021202220232024 F2025F2026F2027F14Console growth is expected to return in 2025 driven by key P2P titlesSource: Newzoo Games Market Reports and Forecasts | Updated February 20252015-2018PC: +1.8%Console: +13.4%2018-2021PC: +5.2%Console: +5.7%2024-2027PC: +2.6%Console: +7.0%2021-2024PC: +1.2%Console: -2.1%1.Post-pandemic declines except for 2023’s strong slate2.Full-game sales, carried by GTA VI, are expected to rebound from 20253.The Nintendo Switch 2 hardware will launch with key first-party software4.Software sales to profit from console lifecycle peak in the outer years while Gen 10 anticipation will grow from 20275.Free-to-play live-service maturity limiting growth, but solid in-game spending in premium titles expectedOur revenues encompass consumer spending on games: physical and digital full-game copies, in-game spending, and subscription services like Xbox Game Pass. Mobile revenues exclude advertising. Our estimates exclude taxes, secondhand trade or secondary markets, advertising revenues earned in and around games, console and peripheral hardware, B2B services, and the online gambling and betting industry.PCConsoleData updated February 2025
Share of yearly console revenues by business modelGlobal | 2024152024 Console: Premium couldn’t match 2023’s strong release slateSource: Newzoo Games Market Reports and Forecasts | Updated February 202532%46%16%5%$42.8B-3.9% Yo Y+14.1% Yo Y$6.9BSubscriptions-14.0% Yo Y$19.9BPremium+2.5% Yo Y$2.2BDLC+4.5% Yo Y$13.9BMTXMTX 4.5% DLC 2.5% FortniteCall of Duty:BO 6NBA 2K25Elden RingDiablo IVDestiny 2
849.3M872.3M873.5M907.5M930.1M951.6M971.7M562.1M586.1M615.6M629.5M653.1M675.8M698.0M20212022202320242025F2026F2027F2024 – 2027PC: +2.3% | Console: +3.5%2021 – 2024PC: +2.2% | Console: +3.8%The absence of major technical, content, or distribution innovation precludes higher player growthSource: Newzoo Games Market Reports and Forecasts | Updated February 2025PC & console players growth over the years2021 – 2027F16PCConsole
17Key takeaways PC & console market outlookPlaytime analysisHow many gamesdo we really play?üPC popularity remains stable with muted revenue growth, while console revenue growth will be driven by GTA VI and Nintendo Switch 2üAll business models are viable, but not at the same scale on every platformüBarring radical outliers, titles’ growth to come from share shiftRecursive nostalgiaSteam visibility
Unlock detailed market forecasts and trends in the Newzoo platform18100Games markets forecasted7Major game ecosystems analyzed35In-depth games market deep divesFind out moreTake a tourSee forecasts for 100 games markets from 2015 to 2027: revenues, players and payers, split across PC, console, and mobile.Access the full Global Games Market Report, our flagship annual report (with quarterly updates) that analyzes the latest trends, developments, and forecasts.Download complete data sets from every reportTrack 100 public game companies’ revenues from 2017 to now.Understand the key global trends and how they impact the industry.Access 7 game ecosystems’ key statistics: Epic, Steam, iOS, Android, PlayStation, Xbox, and Nintendo.
Playtime analysis
20Playtime AnalysisIn last year’s PC & Console Report, we provided a comprehensive overview of the overall PC and console market.While this offered valuable market-wide context, this year’s report aims to take a more granular approach by highlighting platform-specific differences across PC, PlayStation, and Xbox. In addition, together with our largest clients, we have reviewed and restated our data to ensure that it is providing the most complete and accurate picture possible.Our 2024 playtime analysis offers a detailed examination of the post-COVID gaming landscape, shedding light on the current state of business model maturity and revealing the zero-sum dynamics of today’s intensely competitive market.This section addresses key questions shaping the industry:üWhat were the primary drivers of growth and decline in 2024?üHow significantly did viral hits like HELLDIVERS 2, Palworld, and Black Myth: Wukong impact playtime in Western markets?üWhat was the effect of ROBLOX’s PlayStation release on player engagement?üTo what extent did Call of Duty and sports titles contribute to new release playtime and revenue in 2024?üAre top titles continuing to consolidate their share of playtime?üHow has the genre landscape evolved over the past year?In answering the above and more, you’ll walk away with a thorough understanding of today’s playtime metagame.Brett HuntMarket Analyst
-8%-5%4%1%-3%-1%6%1%0%2%8%-1%-3%3%3%Q1 ’21Q2 ’21Q3 ’21Q4 ’21Q1 ’22Q2 ’22Q3 ’22Q4 ’22Q1 ’23Q2 ’23Q3 ’23Q4 ’23Q1 ’24Q2 ’24Q3 ’24Q4 ’24Total 2024 playtime grew 6% YoY; Q4 2024 set the record for highest quarterly playtimeSource: Newzoo Game Performance Monitor – 37 Markets (excluding China, India) – PC, PlayStation, Xbox21YoYGrowth-8%1%3%9%9%7%January 2021 – December 2024Playtime by quarter – All platformsTotal 2024 YoY growth+6%QoQ Growth-3%3%6%11%6%2%
43%44%41%46%42%41%42%42%49%49%53%45%50%51%51%46%9%7%7%9%8%8%7%11%Q1 ’23Q2 ’23Q3 ’23Q4 ’23Q1 ’24Q2 ’24Q3 ’24Q4 ’24Playtime growth was driven heavily by Pay-to-Play and Call of Duty22Playtime by quarter – All platforms+18%+8%+2%January 2023 – December 2024Source: Newzoo Game Performance Monitor – 37 Markets (excluding China, India) – PC, PlayStation, XboxTotal 2024 YoY growth+6%F2PP2PCoD
P2P playtime growth in 2024 driven by fun with friends, action & adventure, and longstanding franchises23To p 1 5 t i t l e s b y n e t h o u r s i n c r e a s e 2 0 2 3-2024Helldivers IIElden RingEA Sports College Football 25Rainbow Six: SiegeMinecraftFallout 4PalworldPath of Exile 2Worl d of Warcraf tARK: Survival AscendedMonster Hunter: Worl dTekken 8Black Myth: WukongWarhammer 40K: Space Marine 2Fallout 76Source: Newzoo Game Performance Monitor – 37 Markets (excluding China, India) – PC, PlayStation, XboxImpact of Prime’s Fallout seriesPre-2024 release2024 release
21%17%8%7%6%Counter-strike 2 & GOLeague of LegendsApex LegendsThe Sims 4Overwatch 2-8%-8%-13%-14%-15%F2P playtime growth accelerated as Marvel Rivals, Fortnite, and Roblox gained share from established incumbents24PUBG: BattlegroundsMarvel RivalsThe First DescendantFortniteRobloxSource: Newzoo Game Performance Monitor – 37 Markets (excluding China, India) – PC, PlayStation, XboxMarvel Rivals’ launch accounted for 7% of all F2P growth in 2024% of F2P playtime contributionPre-2024 release2024 release50%of F2P decline59%of F2P growth45% of playerswho stopped playing Overwatch 2 in December played Marvel Rivals
While PC & Xbox showed playtime stability, PlayStation showed remarkable growthSource: Newzoo Game Performance Monitor – 37 Markets (excluding China, India) – PC, PlayStation, XboxNote: PC, PlayStation and Xbox indexed against PC 202125Playtime index (including yearly growth)January 2021 – December 20246%12%-1%2021202220232024-10%1%21%2021202220232024-8%3%3%2021202220232024
49%48%47%46%44%47%41%40%40%41%42%40%38%38%39%38%41%39%45%39%44%45%44%42%3%4%3%6%5%4%4%5%4%4%3%5%5%5%4%4%4%4%4%10%6%4%4%7%5%6%6%6%6%6%6%5%5%6%7%6%Qtr1Qtr2Qtr3Qtr4Qtr1Qtr2Qtr3Qtr4Qtr1Qtr2Qtr3Qtr420222023202426PC playtime has stabilized after seeing 12% growth in 2023Other F2PP2PCall of DutyFortniteRobloxSource: Newzoo Game Performance Monitor – 37 Markets (excluding China, India) – PCQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Playtime by quarter, by monetization type and gamesJanuary 2022 – December 2024
77%79%80%74%78%78%76%65%68%72%73%66%10%11%10%16%12%11%11%12%12%14%11%16%13%11%11%10%11%11%12%20%17%12%12%15%3%2%3%3%3%Qtr1Qtr2Qtr3Qtr4Qtr1Qtr2Qtr3Qtr4Qtr1Qtr2Qtr3Qtr4202220232024PlayStation playtime is up 21% vs. 202327OG and LEGO Fortnite put the game back on the map from the end of 2023 (+53% since 2022) Call of Duty had a steady share through the year and is up 43% since 2022 thanks to Black Ops 6+20%Source: Newzoo Game Performance Monitor – 37 Markets (excluding China, India) – PlayStationAll OthersCall of DutyFortniteRobloxPlaytime by quarter, by monetization type and gamesJanuary 2022 – December 2024Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4
88%90%91%90%90%91%90%79%84%90%90%86%12%10%9%10%10%9%10%21%16%10%10%14%Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4202220232024All OthersFortnite28Xbox playtime is stable, with the Q4 2023 boost from Fortnite not sustaining itself in the same manner as PlayStationSource: Newzoo Game Performance Monitor – 37 Markets (excluding China, India) – XboxPlaytime by quarter, by monetization type and gamesJanuary 2022 – December 2024
6+ yearsFortnite remains the most played game with 9.3% of total playtime in 2024 (vs. 9.1% in 2023)29New releases represent 12% of total playtime in 2024, slightly up vs. 2023% of yearly total hours by age of titleJanuary 2021 – December 20243.7%4.7%9.3%ROBLOXMinecraftFortnite39%41%55%57%54%49%34%32%7%10%11%12%2021 Playt ime2022 P layt ime2023 Playt ime2024 Pl aytime6+ years1-5 yearsNew releasesSource: Newzoo Game Performance Monitor – 37 Markets (excluding China, India) – PC, PlayStation, XboxNew Releases0.9%1.1%2.7%HELLDIVERS 2EA Sports FC 25Call of Duty: Black Ops 6
30On PC, new titles continue to struggle to capture playtime share from older and aging titles% of yearly total hours by age of titleJanuary 2021 – December 202457%56%64%67%38%37%27%25%4%6%8%8%2021 Playt ime2022 P layt ime2023 Playt ime2024 Pl aytime6+ years1-5 yearsNew releases0.4%0.4%0.4%0.9%1.3%Once HumanPath ofExile 2Marvel RivalsCall of Duty: Black Ops 6Helldivers 21.0%1.1%1.1%1.6%3.4%Elden RingAPEX LegendsGenshin ImpactDiablo IVValorant5.4%5.8%6.2%6.3%7.1%FortniteDota 2ROBLOXLeague of LegendsCounter-Strike 2Source: Newzoo Game Performance Monitor – 37 Markets (excluding China, India) – PC, PlayStation, XboxTwo-thirds of 2024 PC playtime went to titlesreleased 6 or more years ago – and these 5 titles accounted for 30.4% of the total hours
22%23%41%44%70%62%44%41%8%14%14%15%2021 Playt ime2022 P layt ime2023 Playt ime2024 Pl aytime31PlayStation features higher play rates for more recent titles% of yearly total hours by age of titleJanuary 2021 – December 20240.7%0.9%1.0%2.5%3.9%Helldivers 2EA College FootballNBA 25EA Sports FC 25Call of Duty: Black Ops 60.5%2.2%2.9%7.6%8.4%Elden RingNBA 2K24APEX LegendsEA Sports FC 24Call of Duty MWIII2.1%2.8%2.8%4.4%13.8%MinecraftROBLOXRainbow SixGTA VFortnite6+ years1-5 yearsNew releasesSource: Newzoo Game Performance Monitor – 37 Markets (excluding China, India) – PC, PlayStation, XboxThese 5 titles accounted for 25.9%of total hours on PlayStation in 2024Helldivers 2 reached #5 for new releasesand is the top non-yearly franchiseFortnite joins the6+ year bracket
25%29%47%49%64%58%39%35%11%13%14%15%2021 Playt ime2022 P layt ime2023 Playt ime2024 Pl aytime32Xbox shows a similar pattern to PlayStationCollege Football 25 takes second spotfor New Releases and Palworld reaches #5% of yearly total hours by age of titleJanuary 2021 – December 2024Call of Duty: Black Ops 6Call of Duty MWIIIFortnite0.8%1.1%1.1%1.5%5.3%PalworldEA Sports FC 25NBA 2K251.1%1.7%1.8%3.7%7.4%Madden NFL 24APEX LegendsNBA 2K24EA Sports FC 243.2%3.4%3.8%4.0%12.5%GTA VMinecraftRainbow SixROBLOX6+ years1-5 yearsNew releasesEA College FootballSource: Newzoo Game Performance Monitor – 37 Markets (excluding China, India) – PC, PlayStation, XboxThese 5 titles accounted for 28.8%of total hours played on Xbox in 2024Fortnite joins the6+ year bracket
67%25%8%44%41%15%49%35%15%6+ years1-5 years2024 launchesIn 2024, new game hours on console are dominated by annual franchisesSource: Newzoo Game Performance Monitor – 37 Markets (excluding China, India) – PC, PlayStation, Xbox33Annual franchises% of yearly total hours by age of titleJanuary 2024 – December 2024Top new releases in 2024 by playtimeTop new releases in 2024 by playtimeTop new releases in 2024 by playtimeCall of Duty: Black Ops 6Once HumanMarvel RivalsCall of Duty: Black Ops 6Helldivers 2Path of Exile 2EA Sports FC 25EA College FootballNBA 2K25Helldivers 2Call of Duty: Black Ops 6NBA 2K25EA College FootballEA SportsFC 25PalworldOct.Jul.Dec.Oct.Feb.Dec.Sep.Jul.Sep.Feb.Oct.Sep.Jul.Sep.Jan.0.9%0.4%0.4%0.4%1.3%2.5%1.0%0.9%0.7%3.9%1.5%1.1%1.1%0.8%5.3%
PC has a higher share of hours towards non-annual releases from 2024.7%6%5%Playtimeshare of non-annualreleases from 202434*Satisfactory was launched from Early Access | Source: Newzoo Game Performance Monitor – 37 Markets – PC, PlayStation, Xbox% of yearly total hours by age of titleJanuary 2024 – December 2024Top new non-annual releases in 2024 by playtimeTop new non-annual releases in 2024 by playtimeTop new non-annual releases in 2024 by playtime0.4%0.4%0.4%0.4%Helldivers 2VALORANTThe First DescendantFinal Fantasy VII: RebirthBlack Myth: WukongPalworldVALORANTThe First DescendantMarvel RivalsOnce HumanMarvel RivalsHelldivers 2Path of Exile 2Satisfactory*1.3%Dec.Sep.*Dec.Feb.Feb.Jul.Jul.Feb.Jul.Aug.Jan.Jul.Jul.Dec.Sep.0.6%0.5%0.4%0.3%0.7%0.5%0.5%0.3%0.2%0.8%Warhammer 40K: Space Marine 2
21%22%4%5%20232024Source: Newzoo Game Performance Monitor – 6 Markets (DE, FR, IT, ES, UK, USA) – PC, PlayStation, XboxRevenues: In the US & Western Europe, the revenue share of non-annual franchise console games is heavily slate dependentNewly-releasedannualfranchisesNewly-releasednon-annualfranchises35Top new non-annual releases in 2024 by revenueTop new non-annual releases in 2024 by revenueTop new non-annual releases in 2024 by revenuePast releases% of yearly total revenues going to new releasesJanuary 2023 – December 202420%15%23%27%2023202417%8%20%24%202320240.8%0.4%0.3%0.3%1.2%0.6%0.5%0.3%0.3%0.9%0.1%0.1%0.10.1%0.2%DRAGON BALL: Sparking! ZEROPalworldHelldivers 2Warhammer 40K: Space Marine 2Black Myth: WukongJan.Aug.Sep.Feb.Oct.Helldivers 2DRAGON BALL: Sparking! ZERO Black Myth: WukongASTRO BOTFinal Fantasy VII: RebirthFeb.Oct.Sep.Aug.Feb.Warhammer 40K: Space Marine 2The First DescendantDRAGON BALL: Sparking! ZERO VALORANTStar Wars OutlawsSep.Jul.Oct.Jul.Aug.
36Around 10 games consistently make up 50% of all playtime across all platformsNumber of games comprising 50% of playtime, per platformSource: Newzoo Game Performance Monitor – 37 Markets (excluding China, India) – PC, PlayStation, XboxCS2League of LegendsROBLOXDota 2FortniteMinecraftCall of Duty: Black Ops 6ValorantWorld of WarcraftSIMS 4Overwatch 2Escape From TarkovFortniteCall of Duty BO6EA Sports FC 24GTA VAPEX LegendsRainbow Six SiegeROBLOXEA Sports FC 25NBA 2K 24Call of Duty BO6FortniteROBLOXRainbow Six SiegeEA Sports FC 24MinecraftGTA VDestiny 2NBA 2K 24Rocket LeagueAPEX Legends91111122021202220232024810992021202220232024121411112021202220232024January 2021 – December 2024
142223218101213171918194555222233220510152025202120222023202420212022202320242021202220232024PCPla y Sta tionXbox37The number of games accounting for 50% of P2P playtime is on the rise on PlayStation, stable on Xbox and PCNumber of games comprising 50% of playtime, per platform and business modelP2PF2P50% of F2P playtime has remained consolidated at 5 on PC and 2 on consolesSource: Newzoo Game Performance Monitor – 37 Markets (excluding China, India) – PC, PlayStation, XboxJanuary 2021 – December 2024
130148152150110124138144160165167179202120222023202420212022202320242021202220232024PCPlayStationXb ox20425023019313114616918520421321323017171721912111610111014202120222023202420212022202320242021202220232024PCPlayStationXb oxAt 90% of playtime, play diversity has increased on consoles38P2PF2PNumber of titles comprising 90% of playtime, per platform | 2021 – 2024Source: Newzoo Game Performance Monitor – 37 Markets (excluding China, India) – PC, PlayStation, XboxWhen splitting by business model, PC pay-to-play is the only segment that has consolidated in 2024Number of titles comprising 90% of playtime, per platform and per business model | 2021 – 2024
January 2021 – December 202439Shooters and Role playing continue to see growth as Battle Royale loses momentum and consolidates towards Fortnite77%Playtime by year by genre – To p 5 g e n r e s – all platforms (Share of total)ShooterBattle RoyaleAdventureRoleplayingSports18%Source: Newzoo Game Performance Monitor – 37 Markets (excluding China, India) – PC, PlayStation, XboxBaldur’s Gate 3Diablo IVHonkai: Star RailHogwarts LegacyStarfieldof time spent in RPGs in 2024 was in major releases from 2023Fortnite’s share in the Battle Royale genre in 2024 (vs. 43% in 2021)40%As a group, Shooter and Battle Royale have remained constant at ~40% of playtime22%23%27%28%19%16%12%12%13%13%11%11%9%11%13%13%11%11%11%10%2021202220232024
In 2024 Sports, Shooters, and Battle Royale are the most popular genres on consoles, while Shooters are king on PC40ShooterRole PlayingSandboxBattle ArenaBattle RoyaleAdve nt ur eSportsSimulationAdventureBattle RoyaleSandboxBattle ArenaRole PlayingShooter0%5%10%15%20%25%30%SandboxRole PlayingAdventureShooterBattle RoyaleSports0%5%10%15%20%25%SandboxRole PlayingAdventureSportsBattle RoyaleShooter0%5%10%15%20%25%30%Source: Newzoo Game Performance Monitor – 37 Markets (excluding China, India) – PC, PlayStation, XboxGenre playtime shares by platformPCPlayStationXbox
41Key takeaways PC & console market outlookHow many gamesdo we really play?üPC popularity remains stable with muted revenue growth, while console revenue growth will be driven by GTA VI and Nintendo Switch 2üAll business models are viable, but not at the same scale on every platformüBarring radical outliers, titles’ growth to come from share shiftRecursive nostalgiaSteam visibilityPlaytime analysisüOverall playtime hours are growing but concentrated in AAA and at times cannibalistic; the battle for audience hours is fierce and near zero sumüPC skews heavily towards older, F2P titles while console is slate dependent üLaunching a successful F2P game requires a combination of strong IP, great gameplay, and favorable market conditions
Tra c k g a m e e n g a g e m e n t a n d r eve n u e in the Newzoo platform4210,000+Games tracked across platforms37Global markets covered, 9 regions100+Metrics including MAU, DAU, and digital revenueFind out moreTake a tourCoverage of the top platformsEngagement data (MAU, DAU, lifetime players, play time) for thousands of PC andconsole games in 37 marketsPremium and recurring digital revenues (revenue per SKU, ARPU, ARPPU, LTV)for 1000+ games in 6 marketsPlayer and spender overlap, acquisition, retention, and churn between titlesTracking data on millions of players’ behavior per platformEasy-to-use dashboard & API access
How many games do we really play?
44How many games do we really play?Now that we have discussed how players are spending their time, we wanted to address another industry elephant:Michael WagnerSenior Market AnalystConsider that a given player has a relatively fixed number of games they play every year. If that number is declining across an entire population, that leaves a growing number of games competing for a smaller number of titles played. Regardless of the size or business model of your titles, players engaging with fewer titles means:üIncreased difficulty for new premium games to hit expected sales targetsüInability for new live-service titles (particularly F2P) to hit a critical mass of players to ensure long-term viabilityüExisting live-service titles will have more difficulty attracting new playersüAn erosion of “secondary” live service titles due to players focusing on their “primary” live-service titleAre players engaging with fewer titles?
Raw telemetry data taken from over 1 million players within Newzoo’s panel of users.SourcePlayers must have played at least two hours of any title each year for it to count towards titles played. This is within Steam’s return policy.≥ 2 hrs. playedA title must have accumulated at least 10 players in our panel in a given year in order to register in our analysis. ≥ 10 playersPlayers in our sample were present in our sample the entire year shownFull year coverageMethodology selected is to promote transparency and understanding of our analysis methods 45Disclaimer: Data is based on Newzoo’s internal player panel, which may bias toward more engaged and core audiences. While we believe the results in this analysis are representative of the gaming industry and its trends, the figures presented here are likely viewed through the most optimistic lens.
Players are becoming more selective and playing fewer gamesSource: Newzoo player panel data – 37 Markets (excluding China, India) – Steam, PlayStation, XboxAnnual number of titles played per person (weighted average) January 2021 – December 20241311810202120222023202412111092021202220232024998102021202220232024Based on a confluence of factors, 2024 is likely a standout year for Steam and should not necessarily be viewed as a recovery46
Players are becoming increasingly unreachable as annual engagement with 1-3 titles has risen since 202147 üIncrease in fewer titles played coming at the expense of those who are most likely to experiment with new gamesShare of annual number of titles played by players, by platformJanuary 2021 – December 20246-101-34-511+46%37%24%32%21%22%22%21%11%13%15%13%22%29%39%34%202120222023202432%28%25%33%26%25%24%22%15%15%16%14%27%32%35%31%202120222023202440%35%31%30%23%23%24%23%13%13%15%15%24%29%30%32%2021202220232024üDespite Game Pass, we see that 1-3 title players slowly increasing as 11+ title players are decliningüWe find that when AAA has a strong title slate, we see notably lower titles played as seen in 2023üSteam’s 1-3 title share may be overstated as console players may switch to Steam to play titles unavailable on their console.Nearly 50% of 1-3 title players on Steam play Counter-Strike (37%) or DotA (10%)Source: Newzoo player panel data – 37 Markets (excluding China, India) – Steam, PlayStation, Xbox
PlayStation remains consistent across all titles played while Steam and Xbox see most notable declines between 6-13 titles playedPlayer accumulation of titles played per player – 2021 vs 2024January 2021 – December 20240%25%50%75%100%01020304050Share of Players (Accumulated)Number of titles played annually by a player0%25%50%75%100%01020304050Share of Players (Accumulated)Number of titles played annually by a player0%25%50%75%100%01020304050Share of Players (Accumulated)Number of titles played annually by a playerInterquartile range:(Middle 50%)2024: 2 – 132021: 3 – 18Interquartile range:(Middle 50%)2024: 2 – 132021: 3 – 17Interquartile range:(Middle 50%)2024: 2 – 132021: 3 – 132024202148ü30 titles represents roughly 90% of all players, 50 titles represents ≥ 95% of all players on each platformü3-17 titles played range is the area of greatest decline on Steam and Xbox Source: Newzoo player panel data – 37 Markets (excluding China, India) – Steam, PlayStation, Xbox
Sony is the lone bright spot as every market has been negatively impacted on Steam and Xbox49Percent change of average titles played by market – 2021 vs 2024January 2021 – December 2021, January 2024 – December 2024RankTop Steam markets(by revenue)Vs 20211.United States-27%2.South Korea-27%3.Japan-32%4.Germany-16%5.United Kingdom-26%6.Mexico-22%7.France-16%8.Russia-34%9.Brazil-34%10.Canada-36%RankTop console markets(by revenue)Vs 20211.United States10%2.Japan-2%3.United Kingdom18%4.Germany5%5.France20%6.Canada3%7.Italy4%8.Spain3%9.Mexico17%10.South Korea52%RankTop console markets(by revenue)Vs 20211.United States-15%2.Japan-36%3.United Kingdom-19%4.Germany-19%5.France-29%6.Canada-22%7.Italy-18%8.Spain-21%9.Mexico-25%10.South Korea-37%üSteam and Xbox universally down across all markets while the largest markets on PlayStation see growthüWestern European markets seem to be more resistant to declining titles played on Steam and XboxSource: Newzoo player panel data – 37 Markets (excluding China, India) – Steam, PlayStation, Xbox
50Shifting focus from the players to what titles are being playedFor this analysis, we track player engagement with each title individually.If a player engages with multiple titles, each title is counted separately.For example, if a player engages with both Fortnite and Call of Duty, each game accounts for 50% of the titles played by that user.If we extend this reasoning to 3 players who collectively played 6 titles, and Fortnite was played by each individual, we count Fortnite 3 times in a total of 6 titles played – 50%.Or, in the case of Elden Ring, which was played by a single person out of 6 titles, we get a 16.6% share. This approach allows us to accurately assess the popularity and trends of game titles and player behavior.50%(3/6 titles)These 3 players play these titles throughout a yearShare of titles played, per game2 titlesTotal: 6 titles played across all players1 title3 titles33%(2/6 titles)16.6%(1/6 titles)ABC
New console titles played are down since 2021, driven by 6+ year old titles, 2024 Steam growth in new games driven by AA and Indie 51 Share of all titles played by release date in 2024January 2024 – December 202431%30%26%33%32%30%25%18%37%40%49%49%202120222023202439%35%32%29%33%33%24%21%28%32%44%50%202120222023202440%36%32%32%35%36%28%23%25%28%40%45%20212022202320246+ years3-5 years≤2 years1.9%1.8%1.7%1.4%5.4%DotA 2PUBG: BattlegroundsLethalCompanyHelldivers 2Counter-Strike 24.1%3.5%3.1%2.5%5.4%Call of DutyEA FC 24Grand Theft Auto VFortniteRocketLeague3.5%3.4%3.3%2.9%5.7%Grand TheftAuto VMinecraftCall of DutyFortniteEA FC 24Top played titles in 2024Top played titles in 2024Top played titles in 2024Source: Newzoo player panel data – 37 Markets (excluding China, India) – Steam, PlayStation, Xbox
Steam users are more likely than console users to play new titles as they engage with a larger quantity of titlesDistribution of titles played by release date versus the annual number of games played per playerJanuary 2024 – December 20241357911131517192123252729Share of all titles played14%8%78%35%19%46%1357911131517192123252729Share of all titles played20%15%65%30%23%47%Share of all titles played25%19%56%33%25%42%1357911131517192123252729526+ years3-5 years≤2 yearsüSteam: High concentration of 1-3 title players, focused on Counter-Strike 2 and DotA.üPlayStation users play more new titles at the low end, driven primarily by annual release titles like Call of Duty and EA Sports FC, but are less likely to play new games as they play more titles üDespite Game Pass, Xbox players are not significantly more likely to engage with more new titlesEach platform has a distinct new title curve as players play more titles per yearSource: Newzoo player panel data – 37 Markets (excluding China, India) – Steam, PlayStation, XboxNumber of titles played annually per playerNumber of titles played annually per playerNumber of titles played annually per player
Newer titles make up a higher proportion of top games on Steam even though none were of annual franchises53 To p t i t l e s p l a y e d i n 2 0 2 4 ( a s s h a r e o f a l l t i t l e s p l a y e d )January 2024 – December 2024TitleReleaseShare1.Counter-Strike 220125.4%2.Helldivers 220241.9%3.Lethal Company20231.8%4.PUBG Battlegrounds20171.7%5.DotA 220131.4%6.Palworld20241.4%7.Elden Ring 20221.4%8.Marvel Rivals20241.3%9.Grand Theft Auto V20131.3%10.Rainbow Six: Siege20151.3%TitleReleaseShare1.Fortnite20175.7%2.Call of Duty*20243.5%3.Minecraft20123.4%4.Grand Theft Auto V20133.3%5.EA Sports FC 2420232.9%6.Roblox20152.4%7.Forza Horizon 520212.0%8.Rocket League20151.8%9.EA Sports FIFA 2320221.6%10.EA Sports FC 2520241.2%TitleReleaseShare1.Fortnite20175.6%2.Grand Theft Auto V20134.1%3.EA Sports FC 2420233.5%4.Call of Duty*20243.1%5.Rocket League20152.5%6.Minecraft20122.4%7.Roblox20151.8%8.Fall Guys20201.6%9.Red Dead Redemption 220181.4%10.EA Sports FIFA 2320221.3%Source: Newzoo player panel data – 37 Markets (excluding China, India) – Steam, PlayStation, Xbox
2021202220232024Share of titlesplayedShare of games releasedDespite 2024 decline, new AAA on the rise on Steam while mid-tier titles index well 54 Share of titles played versus share of games released each year by MSRPJanuary 2021 – December 2024 | Steam20212022202320240%10%20%30%40 %50%60 %70%80%90 %100%20212022202320242021202220232024F2P$30 and Under (Indies)$31 – $50(AA)$51+(AAA)Source: Newzoo player panel data – 37 Markets (excluding China, India) – Steam
PlayStation is primarily a AAA console as indie and AA games make up less than 12 percent of titles played combined55 Share of titles played versus share of games released each year by MSRPJanuary 2021 – December 2024 | PlayStationShare of titlesplayedShare of games released202120222023202420212022202320240%25%50%75%100%20212022202320242021202220232024F2P$30 and Under (Indies)$31 – $50(AA)$51+(AAA)Source: Newzoo player panel data – 37 Markets (excluding China, India) – PlayStation
Game Pass offers some benefits for indies and AA on Xbox, but the benefits are minor as players overwhelmingly prefer AAA games56 Share of titles played versus share of games released each year by MSRPJanuary 2021 – December 2024 | XboxShare of titlesplayedShare of games released202120222023202420212022202320240%10%20%30%40 %50%60 %70%80%90 %100%20212022202320242021202220232024F2P$30 and Under (Indies)$31 – $50(AA)$51+(AAA)Source: Newzoo player panel data – 37 Markets (excluding China, India) – Xbox
Top 2024 console games skew heavily F2P and AAA while Steam features less expensive indie and AA titlesTo p 2 0 2 4 r e l e a s e s p l a y e d ( a s % o f a l l g a m e s p l a y e d )January 2024 – December 2024ü6 of top 10 titles on console are at AAA MSRPTitleShare of alltitles playedMSRP1.Helldivers 21.9%$402.Palworld1.4%$303.Marvel Rivals1.3%F2P4.Call of Duty1.1%$705.Content Warning0.8%$86.Chained Together0.8%$57.Once Human0.7%F2P8.Satisfactory0.6%$409.Sons of the Forest0.6%$3010.Path of Exile 20.5%$30TitleShare of all titles playedMSRP1.Call of Duty3.5%$702.EA FC 251.2%$703.Palworld0.8%$304.XDefiant0.4%F2P5.Marvel Rivals0.4%F2P6.Indiana Jones/Great Circle0.3%$707.The First Descendant0.3%F2P8.Multiversus0.2%F2P9.S.T.A.L.K.E.R. 20.2%$6010.Senua’s Saga0.2%$50TitleShare of all titles playedMSRP1.Call of Duty3.1%$702.EA FC 251.6%$703.XDefiant0.9%F2P4.Helldivers 20.8%$405.The First Descendant 0.7%F2P6.Multiversus0.7%F2P7.WWE2K240.6%$608.Black Myth Wukong0.6%$609.Final Fantasy VII: Rebirth0.6%$7010.Stellar Blade0.6%$7057 üAll F2P titles in top 10 are shut(ing) down or more than 90% below their peak MAU – except Marvel RivalsSource: Newzoo player panel data – 37 Markets (excluding China, India) – Steam, PlayStation, Xbox
Generally, no change in titles played based on F2P/P2P business models58 Monetization in games as a proportion of total titles played21%21%19%22%76%75%77%74%202120222023202416%20%19%19%81%76%78%77%202120222023202427%28%26%24%73%70%73%74%20 2120 2220 2320 24January 2024 – December 2024P2PCall of DutyF2PSource: Newzoo player panel data – 37 Markets (excluding China, India) – Steam, PlayStation, Xbox
135791113151719212325272913579111315171921232527291357911131517192123252729As players engage with more titles, they are proportionately more likely to play P2P titles, though Steam users play more comparative to console59P2PCall of DutyF2P*30 titles played in a year represents approximately 90% of all titles played in a year on each platformüTop 5 on both consoles remained fixed on both consoles on both the high and low end of titles played. Roblox, Rocket League, Apex Legends, and Fortnite were fixtures on both consoles.üUnlike on PC, non-Battle Royale/Shooter titles make up half of the top 10 leading us to believe that these genre titles as F2P may not be relevant to PC crowd on Steam.Distribution of F2P vs. P2P titles based on the average number of games played per player annuallyJanuary 2024 – December 2024Source: Newzoo player panel data – 37 Markets (excluding China, India) – Steam, PlayStation, Xbox60%41%1%58%16%1%83%33%7%15%3%83%24%7%70%9%3%88%Share of all titles playedShare of all titles playedShare of all titles playedNumber of titles played annually per playerNumber of titles played annually per playerNumber of titles played annually per player
Steam is increasingly more PvE-friendly as social-focused titles are becoming more popular on the platformShare of competitiveness a proportion of total titles playedJanuary 2024 – December 202439%41%44%42%41%41%39%42%19%18%17%16%202120222023202447%50%53%58%34%33%32%30%18%17%15%12%202120222023202439%38%38%41%37%41%41%41%23%21%20%18%202120222023202460PvP, PvEPvPPvESource: Newzoo player panel data – 37 Markets (excluding China, India) – Steam, PlayStation, Xbox
Share of all titles playedShare of all titles playedShare of all titles playedPlayers prefer PvE titles as they play more games, with Steam players more likely to play PvE after engaging with more than one title 61 Distribution of titles played by competitiveness in relation to the annual number of games played per playerJanuary 2024 – December 2024üBoth consoles follow a near identical mix of games showing how similar console players are in general regarding game tastes22%71%7%66%22%12%20%64%15%51%32%18%22%64%14%52%33%15%135791113151719212325272913579111315171921232527291357911131517192123252729PvP, PvEPvPPvE*30 titles played in a year represents ~90% of all titles played in a year on each platformüSteam players see a notable hockey stick effect due to the strength of competitive titles like Counter-Strike 2, DotA 2, and Rainbow Six: Siege, but drastically changes to a 3:1 ratio in favor of PvE titles by 30 titles in. Source: Newzoo player panel data – 37 Markets (excluding China, India) – Steam, PlayStation, XboxNumber of titles played annually per playerNumber of titles played annually per playerNumber of titles played annually per player
On Steam, Role Playing games show consistent growth as a genre since 2021 as players move away from smaller genres on the platformShare of games played split by genreJanuary 2024 – December 2024 | Steam0%5%10%15%20%25%30%Ad ve ntureBat tle Ar enaBat tle Royal eRole P layingShoot erSim ula tionStr ategyOthers [12]Source: Newzoo player panel data – 37 Markets (excluding China, India) – Steam, PlayStation, Xbox2023202420222021
63 Popularity of Battle Royale down to 8% of all titles played on PS as Role Playing and Sports rise, Shooters recovering from 2021 dipShare of games played split by genreJanuary 2021 – December 2024 | PlayStation0%5%10%15%20%25%30%Ad ve ntureBat tle Royal eFig htingRacingRole P layingShoot erSpo rtsOther [12]Source: Newzoo player panel data – 37 Markets (excluding China, India) – Steam, PlayStation, Xbox2023202420222021
64 Similar to PS, Battle Royale losing ground while sports rise; Adventure now largest genre, displacing shooter as top genreShare of games played split by genreJanuary 2024 – December 2024 | Xbox0%5%10%15%20%25%30%Ad ve ntureBat tle Royal eFig htingRacingRole P layingShoot erSpo rtsSa ndboxOther [12]Source: Newzoo player panel data – 37 Markets (excluding China, India) – Steam, PlayStation, Xbox2023202420222021
24%4%23%10%19%30%16%18%7%11%3%7%3%6%3%11%0%10%20%30%40 %50%60 %70%80%90 %100%1 Ti tle30 Tit lesOther [11]Rac in gFightingSa nd b oxRo le PlayingSh oot erAdvent ureSp o rtsBattle Royale65 As players engage with more titles, they play fewer Shooters and Battle Royale titles in favor of Adventure and Role PlayShare of genre titles by players who played 1 Title vs 30 titlesJanuary 2024 – December 202446%22%13%23%9%7%9%6%19%15%24%0%10%20%30%40 %50%60 %70%80%90 %100%1 Ti tle30 Tit lesOthers [12]Battle RoyaleRo le PlayingSi m ula ti onBattle ArenaAdvent ureSh oot er25%4%19%22%16%8%14%27%9%6%5%10%2%6%9%17%0%10%20%30%40 %50%60 %70%80%90 %100%1 Ti tle30 Tit lesOther [12]FightingRo le PlayingRac in gAdvent ureSp o rtsSh oot erBattle RoyaleSource: Newzoo player panel data – 37 Markets (excluding China, India) – Steam, PlayStation, Xbox
66Key takeaways PC & console market outlookHow many gamesdo we really play?üPC popularity remains stable with muted revenue growth, while console revenue growth will be driven by GTA VI and Nintendo Switch 2üAll business models are viable, but not at the same scale on every platformüBarring radical outliers, titles’ growth to come from share shiftRecursive nostalgiaSteam visibilityüNumber of games played is down on Xbox and Steam from COVID peaküPlay habits are calcifying into fewer games, reducing addressable market for new launchesüF2P drives significant interest, but players are often very quick to churnüAdventure and Role playing titles are on the rise for those who enjoy playing more titlesPlaytime analysisüOverall playtime hours are growing but concentrated in AAA and at times cannibalistic; the battle for audience hours is fierce and near zero sumüPC skews heavily towards older, F2P titles while console is slate dependent üLaunching a successful F2P game requires a combination of strong IP, great gameplay, and favorable market conditions
Explore player behavior insights in the Newzoo platform6773,000+Consumers surveyed yearly36Global coverage with 36 markets200+Variables tracked3+Years of data and reportsFind out moreTake a tourFull demographic and psychographic profiles of gamers across 36 marketsGaming, spending, and viewing behavior and attitudes, per platformGame franchises played, attitudes and purchase funnelMotivations to play games and gamer personasMedia (incl. transmedia and IP deepdives), lifestyle, and consumer brands consumptionGaming hardware and peripheralsUGC, modding, and cloud gaming insights
As a driver for growth in live-service gamesSpecial topic: Recursive nostalgiaEmmanuel RosierDirector of Market Intelligence
What is “Recursive Nostalgia”? As live service games reach 5+ or even 10+ years on the market, they finally have a deep enough history to become nostalgic about.Recursive nostalgia refers to bringing back older content or mechanics within the same game to re-engage lapsed players (and possibly attract new ones).A publisher temporarily or permanently reintroduces a past version of the game (older maps, older meta, old expansions, “classic” mechanics).EXAMPLERecapture the “feeling” of the original release or earlier expansions.GOALCrossover events with nostalgic IPs (e.g., ‘80s movie tie-ins) are excluded if it’s not referencing the game’s own older content.RECURSIVE NOSTALGIA IS NOT69
70 Fortnite – Nostalgia events content and timingEvent name: Fortnite OGEvent name: Chapter 2 REMIXEvent name: Season OGAvailability: Nov 3 to Dec 2, 2023Description•Original map and loot pool: The event faithfully recreated the Chapter 1 map and loot.•Accelerated season progression: Players experienced Chapter 1’s 10 seasons within one month.•The big bang live event: This event marked the transition from the Chapter 4 finale to Chapter 5, introducing significant in-game changes and lore developments.Availability: Dec 6, 2024Description:•Permanent availability•Expanded season progression: Cycles through all 10 Chapter 1 seasons, each lasting 8 weeks.•No-build mode added•Modern quality-of-life features: Includes sprinting, sliding, mantling, door bashing, and healing while moving, along with updated building mechanics.Availability: Nov 2 to Nov 30, 2024Description:•Cultural fusion: Combined Chapter 2 nostalgia with modern trends through music and creative gameplay updates.•Altered locations: Transformed familiar Chapter 2 landmarks with musical themes, loot changes, and mechanics tied to the artists.•Musical collaborations: Featured themed zones and events from Snoop Dogg, Eminem, Ice Spice, and Juice WRLD,
05010015020025030035007/ 2308/2309/2310/2311/2312/2301/2402/2403/2404/2405/2406/2407/ 2408/2409/2410/2411/2412/2401/2502/25Fortnite – Nostalgia events: Massive short- and long-term engagement boostCH4S3CH4S4OG SeasonCH5S1CH5S2CH5S3CH5S4CH2 RemixFortnite OGx3x1.8×1.3Fortnite OG launch pushed engagement further up.OG Season tripled engagement and served as a leeway to Chapter 5Chapter 2 Remix almost doubled engagement ahead of Chapter 6DAU in dexJuly 2023 – February 202571 Source: Newzoo Game Performance Monitor – 37 Markets (excluding China, India) – PC, PlayStation, Xbox
Apex Legends – Launch Royale: Similar impact to recent season launchesLaunch Royale18%16%18%49%19%22%19%-16%-18%-19%-9%-16%-9%-8%-30 %-2 0 %-10 %0%10%20%30%40 %50%60 %AvailabilityNovember 5, 2024 (Season 23), with a reintroduction from January 7 – January 20, 2025.Season 11 (Nov-21)Season 15 (Nov-22)Season 19 (Nov-23)Season 20 Anniv.Season 21 (May-24)Season 22 (Aug-24)Season 23 (Nov-24) Launch Royale•The Launch Royale event for Season 23 led to a 19% increase in engagement, aligning with patterns noted in past years and seasons (excluding Anniversary Events).•Subsequently, engagement experienced an 8% decline, which reflects a performance marginally improved compared to the post-event engagement drop seen in the 2024 season.•Based on these metrics, there is no indication that the Launch Royale event had a greater effect on engagement than a typical new season launch.DescriptionGameplay is restored to its state at the game’s launch, with some exceptions. This includes:•The first iteration ofKing’s Canyon.•Legend abilities and weapon statistics as they were upon release.•Only the default Legends, as well as Octane and Wattson, are playable.DAU 14-day uplift and post 15-day dropSeasonstart uplift(2 weeks)Post 15-day drop72 DONESource: Newzoo Game Performance Monitor – 37 Markets (excluding China, India) – PC, PlayStation, Xbox
Overwatch 2 – Overwatch Classic: Similar impact as non-nostalgic eventsOverwatch: ClassicAvailabilityNovember 12 –December 2, 2024.•The Overwatch: Classic Event temporarily increased engagement by 12%.•This was followed by a 26% decline in engagement, which coincided with the launch of Marvel Rivals just four days after the event concluded.•In terms of average DAU, the event’s performance was comparable to other recent events in 2024, showing no significant deviation.•Based on these metrics, there is no evidence to suggest that the Overwatch Classic event had a more substantial impact on engagement compared to other events.05010015020006/2406/2407/ 2408/2408/2409/2410/2410/2411/2412/2412/24Overwatch 2Overwatch Classic164143132119617875848391787245050100150200WinterWonderland20 22Battle forOl y mp usLoverw atchOne -P unc h M a nCrossoverLe Sseraf imCowb oy BebopTra ns f orm e rsWorld ofWarcraftAnnivers ary20 24Hallo weenTe rror 20 24My H e r oAcademiaOv e rwa tc hClassicAvatar: T heLast Airb enderDescription•Experience Overwatch 1 as it was at its 2016 launch, integrated into Overwatch 2.•Classic 6v6 format without role restrictions.•Original 21 heroes with their launch-day abilities (e.g., Mercy’s Resurrect ultimate and Hanzo’s Scatter Arrow).•Gameplay on the 12 original maps, updated with Overwatch 2 visuals.•No hero limits initially, allowing duplicate heroes on teams (limited to one per hero after November 19).DAU in dex | J u n e 2 0 2 4 – Dec 2024Ave ra g e DAU i n d ex p e r eve n t73 Source: Newzoo Game Performance Monitor – 37 Markets (excluding China, India) – PC, PlayStation, Xbox
Destiny 2 – The return of iconic raids: Discretionary increase, but no impact on long-term engagementNo limited-time engagement: permanently available after unvaulting.•Vault of Glass: May 22, 2021.•King’s Fall: August 26, 2022.•Crota’s End: September 1, 2023.•Short-term boosts in engagement (+5 to +11%) but no significant or lasting increase in daily active users. •King’s Fall had the highest impact (+11% boost), but the engagement quickly went back to a descending trajectory.•The unvaulting strategy doesn’t appear to generate long-term player retention or sustained engagement. It’s primarily effective for re-engaging lapsed players briefly.D1D2D3D4D5D6D7D8D9D10D11D12D13D14D15D16D17D18D19D2 0D2 1D2 2Destiny 23 fan favorite raids from Destiny 1 unvaulted.DAU in dex from Season Lau n c h | D1 – D2274 Seasonof theSplicerVaultof GlassreturnsSeasonof PlunderKing’sFallreturnsSeasonof theWitchCrota’sEnd returnsSource: Newzoo Game Performance Monitor – 37 Markets (excluding China, India) – PC, PlayStation, Xbox
75“Recursive Nostalgia”: Only works if part of a future-oriented strategyFortnite’s success storyThe Pitfalls of short-term tacticsNostalgia as a double-edged sword•Reintroducing “classic” content can reignite interest but often lacks long-term staying power.•Players may prefer polished, modern mechanics over older, less refined versions.•Risk of being perceived as uncreativeor exploitative.•Reintroduced Chapter 1 map (“Fortnite OG”) as a nostalgia event.•Reactivated lapsed players and boosted engagement.•Used nostalgia as a launchpad for new content (Chapter 5, LEGO Fortnite, Rocket Racing).•Many games treat nostalgia events as one-offs without a long-term strategy.•Fails to sustain player interest or deliver lasting value.Leverage nostalgia as part of a future-oriented strategy to sustain player interest.LONG-TERMSHORT-TERM
Re-experiencing the story In games with rich lore or intricate plotlines (e.g., MMORPGs), a reset invites players to engage with the narrative from the ground up. It can also provide a chance for devs to refine or retcon certain story beats if needed.Refresh of core mechanicsReboots allow developers to re-balance systems, remove redundant features, or integrate new tech. This helps ensure that the “classic” content holds up to modern gameplay expectations.Level playing fieldOver time, veteran players accumulate items, currency, and knowledge that give them a massive advantage. Reset servers or “classic” versions wipe the slate clean, letting everyone — old and new — start on equal terms.Lower barrier to entryWhen a title has evolved through multiple expansions, seasons, or patches, newcomers can feel overwhelmed by advanced features and dense progression systems. A reset simplifies the on-ramp, making the game more approachable.The other path: The “Reset” approachInstead of organizing nostalgia events, publishers can explore the idea of “resetting” their games.76
De c /20Ja n /2 1Fe b/2 1Mar/21Ap r/2 1May/21Ju n /2 1Ju l/ 21Aug /21Sep/21Oct /21Nov /2 1De c /21Ja n /2 2Fe b/2 2Mar/22Ap r/2 2May/22Ju n /2 2Ju l/ 22Aug /22Sep/22Oct /22Nov /2 2De c /22Ja n /2 3Fe b/2 3Mar/23Ap r/2 3May/23Ju n /2 3Ju l/ 23Aug /23Sep/23Oct /23Nov /2 3De c /23Ja n /2 4Fe b/2 4Mar/24Ap r/2 4May/24Ju n /2 4Ju l/ 24Aug /24Sep/24Oct /24Nov /2 4De c /24World of Warcraft Classic (2019): Offers a complimentary experience to sustain player engagementAvailabilityLaunched in 2019World of Warcraft Classic established itself as a significant part of the WoW player base, with Classic players accounting for 10% to 50% of WoW’s total monthly active users (MAU) since 2020.Classic reached its highest share of WoW’s MAU on four notable occasions:•June 2021: The Burning Crusade Classic•September 2022: Wrath of the Lich King Classic•December 2023: Season of Discovery•November 2024: WoW Classic’s 20th Anniversary celebrationsWo r l d o f Wa r c ra f t C l a s s i c Description•Recreating the 2006-era “vanilla” versionof the game. •Drew in both nostalgic veterans and curious newcomers seeking an authentic and level-playing-field experience. •Its success led to the re-releases of The Burning Crusade and Wrath of the Lich King expansions, as well as additional content like the Season of Discovery.Monthly Active Users | Dec 2020 – Dec 202477 WoWClassicSource: Newzoo Game Performance Monitor – 37 Markets (excluding China, India) – PC, PlayStation, Xbox
Overwatch 2: The reboot helped slow engagement decline but didn’t eliminate vulnerability to competitors78 •Early Access: Tenfold surge in engagement, largely driven by the free-to-play model of Overwatch 2, as opposed to the premium pricing of Overwatch 1.•Sustained DAU Post-Launch: After the initial spike, Overwatch 2 maintained approximately double (x2) the pre-launch DAU of Overwatch 1 for nearly a year.•Recent Decline: Following the release of Marvel Rivals, Overwatch 2’s DAU has returned to pre-launch levels seen with Overwatch 1.010020030040 050060 070080090 01,00012/2002/2104/2106/2108/2110/2112/2102/2204/2206/2208/2210/2212/2202/2304/2306/2308/2310/2312/2302/2404/2406/2408/2410/2412/2402/25Early AccessReleaseEarly Access from Oct 4, 2022.Official Release on August 10, 2023.Overwatch 2Changes vs. Overwatch 1•Team Composition: from 6v6 to 5v5 gameplay.•Heroes: New characters and significant reworks to existing heroes.•Modes and Maps: Push mode and new dynamic maps.•Graphics: Upgraded visuals and a modernized HUD.•Monetization: Free-to-play with a seasonal Battle Pass and a cosmetics store.•Cross-Features: cross-play and cross-progression.•Updates: seasonal content model.DAU in dex from season lau n c h | Dec 2 0 2 0 – Feb 2025Source: Newzoo Game Performance Monitor – 37 Markets (excluding China, India) – PC, PlayStation, Xbox
79Key takeaways PC & console market outlookPlaytime analysisHow many gamesdo we really play?üPC popularity remains stable with muted revenue growth, while console revenue growth will be driven by GTA VI and Nintendo Switch 2üAll business models are viable, but not at the same scale on every platformüBarring radical outliers, titles’ growth to come from share shiftüOverall playtime hours are growing but concentrated in AAA and at times cannibalistic; the battle for audience hours is fierce and near zero sumüPC skews heavily towards older, F2P titles while console is slate dependent üLaunching a successful F2P game requires a combination of strong IP, great gameplay, and favorable market conditionsRecursive nostalgiaSteam visibilityüReintroducing “classic” content can reignite interest but often lacks long-term staying powerüCompanies that successfully leverage nostalgia use it as part of a future-oriented strategy to sustain player interest rather than a one-off tacticüNumber of games played is down on Xbox and Steam from COVID peaküPlay habits are calcifying into fewer games, reducing addressable market for new launchesüF2P drives significant interest, but players are often very quick to churnüAdventure and Role playing titles are on the rise for those who enjoy playing more titles
Special topic: Steam visibility
81 Steam visibilityThe way players discover games on Steam has shifted significantly in recent years.As the platform evolves and competition intensifies, the factors driving visibility have become more complex. Based on extensive data analysis from 4,600 titles using our new Business & Store Intelligence tool, we’ve identified key trends that should inform the marketing and visibility strategies of AA and indie developers, as well as small and mid-sized publishers.In the following section, we give you a glimpse into how users find their way to Steam game pages – and how different marketing channels and discounting activities yield significantly different results.üExternal channels such as paid user acquisition campaigns, organic search, and streaming/video have become a more important traffic source for Steam game pages.üTop games are less reliant on external traffic.üTraffic sources differ widely in their ability to effectively drive impressions and visits.üBoth global sales events (such as the Summer Sale) and individual game sale events (such as Midweek discounts) in the Steam platform have become less effective to boost impressions and visits to game pages over time.Ty l e r L o n gDirector of Product
37%0%5%10 %15 %20 %25 %30%35%40%45 %50%20 1620 1720 1820 1920 2020 2120 2220 2320 24Share of Steam game page traffic derived from external sourcesSteam games’ traffic is increasingly derived from external sources46%82Internal traffic within Steam has not decreased but has steadily grown year-over-year.External traffic has just grown at a faster rate.Source: Newzoo Business & Store Intelligence – Global – PC | December 2024Based on 4613 titles from Newzoo’s Business Store & Intelligence 2016 – 2024
Sum of internal vs external traffic for high, mid, and low-visited Steam game pages in 2024More popular Steam titles rely less on external sources to drive traffic83Low (>5k external visits)Mid (>100k e xternal v isits)High (>1m external v ists)39%48% 51%The most-visited games on Steam in 2024 relied the least on external traffic sources to drive visibility and engagement with their Steam store page.Top games likely benefit from increased internal traffic as a result of Steam’s discovery algorithm, which promotes games that are deemed high-performing.The medium-visited and lowest-visited games have a similar split of around 50% internal vs. external sources. External visitsInternalvisitsSource: Newzoo Business & Store Intelligence – Global – PC | 2024Based on 4613 titles from Newzoo’s Business Store & Intelligence 2024
Average impressions multiplierAverage visits multiplierDifferent external channels show significantly different effectiveness in increasing impressions and visitsAve ra g e i m p r e s s i o n s vs v i s i t b o o s t p e r a d ve r t i s i n g c h a n n e l84x5x10 x15 xFace bookBingRedditTwitte rYa nd e xYo u T ub eGoogle2019 – 202414xImpression boost to game pages during Facebook eventsExternal events are tracked when spikes in traffic from external sources such as Google occur.These events include anything from advertising directly to the game page to organic traffic via a search engine.Source: Newzoo Business & Store Intelligence – Global – PCBased on 2000+ titles from Newzoo’s Business Store & Intelligence 2019 – 2024
Global sales eventsIndividual game sales eventsSteam game releases per yearIndividual game sales events are now 4 times less effective at driving game traffic than in 2019Individual game sales events 2024 Global sales events 2024 Average:2.5x ImpressionsSteam sales’ average impressions and visits multiplier85Source: Newzoo Business & Store Intelligence – Global – PC | December 20242019 – 2024Individual game sales events (e.g. Weekend Deals) have a much larger impact on impressions than Global sales events (e.g. Summer Sale), but their effectiveness is significantly declining.This decline inversely correlates with the increase in games released on Steam per year.8,090 9,676 11,290 12,361 14,271 18,920 0x10 x20 x30x40x20 1920 2020 2120 2220 2320 2438x7xAverage:7.4x Impressions
Source: Newzoo Business & Store Intelligence – Global – PCBased on 2000+ titles from Newzoo’s Business Store & Intelligence 2021 – 2024 Multiplier of impressions and visits to store page by type of individual game sales events86Individual game sales events: Launch discounts correlate with the biggest boost in impressions and visits to game pagesLaunches tend to have an oversized boost to visibility thanks to Steam’s discovery algorithm, whether there was a discount event or not.52xAverage impression boost and 22x visits boost to store pages from launch discounts52x22x0x10 x20 x30x40x50x60xDai lyCustomWee klongMidwee kWee kendLaunch2021 – 2024Average impressions multiplierAverage visits multiplier
Source: Newzoo Business & Store Intelligence – Global – PCBased on 2000+ titles from Newzoo’s Business Store & Intelligence 2021 – 2024 Multiplier of impressions and visits to store page by global sales event type87Global sales events: Themed events and general events like Steam Next Fest drive more uplift than Seasonal events on averageSeasonal events tend to be the broadest, including more titles and driving down the average impact, while other events are more targeted, with less competition.Themed events such as Fighting Games Fest and other events such as the Next Fest drive similar boosts to games with around 10x multiplier in impressions and 2x for visits.2.7xAverage impressions boost from participating in Seasonal events2021 – 20240x5x10 x15 xEve ntThe me dSeasonalAverage impressions multiplierAverage visits multiplier
88Key takeaways PC & console market outlookHow many gamesdo we really play?üPC popularity remains stable with muted revenue growth, while console revenue growth will be driven by GTA VI and Nintendo Switch 2üAll business models are viable, but not at the same scale on every platformüBarring radical outliers, titles’ growth to come from share shiftRecursive nostalgiaSteam visibilityüReintroducing “classic” content can reignite interest but often lacks long-term staying powerüCompanies that successfully leverage nostalgia use it as part of a future-oriented strategy to sustain player interest rather than a one-off tacticüDiscounting events are driving less visibility to store pagesüOff platform traffic grows in importance as discounting becomes less effective at drawing steam page viewsüNumber of games played is down on Xbox and Steam from COVID peaküPlay habits are calcifying into fewer games, reducing addressable market for new launchesüF2P drives significant interest, but players are often very quick to churnüAdventure and Role playing titles are on the rise for those who enjoy playing more titlesPlaytime analysisüOverall playtime hours are growing but concentrated in AAA and at times cannibalistic; the battle for audience hours is fierce and near zero sumüPC skews heavily towards older, F2P titles while console is slate dependent üLaunching a successful F2P game requires a combination of strong IP, great gameplay, and favorable market conditions
Join the Newzoo Grow Program and access our new Business & Store Intelligence toolkit89Find out moreGain unique, platform-specific insights into your players’ marketing and sales journeys on Steam and Xbox.Track the impact of every store page change and every sales campaign on sales, wishlists, activations.Solve marketing attribution – identify the marketing efforts that effectively attract new players.Track your competitors’ store page changes and performance.Experiment with new tags to improve discoverability and find key insights in player reviewsAnalyze all your games’ key business and engagement metrics in a single dashboard – revenue, unit sales, DLC, conversion rates.
What’s next?
Final Words91Product differentiation, creativity, and originality are still the most important elements to producing virally successful titlesPlayers are overwhelmed by ever-increasing amount of content yet spending more time on fewer titles.Marketing is more important than ever as discoverability is at an all-time low.Publishers have a role to play, but branding, quality, and reach of influence will be critical.Player growth has plateaued, turning live-service market into a zero-sum battle for attention.üOutside of emerging markets, future player growth will be minimal.üMost players are deeply entrenched in their preferred live-service titles with limited willingness to switch.üGetting players to move to another title often requires converting entire friend groups.üDirect competitors to incumbents, especially in PvP, must have a clearly superior game loop and launch with near-flawless technical execution üPlayers will churn back to their more refined incumbents when they perceive a lack of quality and polish. üGames with novel and engaging game designs are given more leeway due to lack of alternative options.üNew releases not only compete with each other, but with years of bloated player backlogs.üThis is in addition to the pull of social media, video streaming, etc.üProduct differentiation and creative risk-taking are more vital than ever, especially for those without legacy IP.üHits like Palworld, Metaphor: ReFantazio, and It Takes Two, show that originality and novelty supersede graphical fidelity.üFor new IPs, success may come from narrowing scope and experimenting sustainably with ideas and improving with a sequel.üKingdom Come: Deliverance 2 provides a roadmap for not giving up on a promising idea but improving and polishing. üDigital stores have democratized publishing and opened doors, but it’s also flooded stores with shovelware and now AI-generated content making high-quality games harder to find.. üTraditional marketing channels are losing influence and fragmented creator audiences make meaningful exposure more difficult and expensive.üThis has left a trust gap, leaving players hesitant to try unfamiliar games out of fear of wasting time or money.üPlayers now rely on massive showcases, word-of-mouth, and content creators for discovery but scaling reach remains a challenge. üPlatforms can help to improve discoverability by enforcing quality standards or offering curated browsing modes to spotlight vetted titles.üIn an oversaturated market, publishers are uniquely positioned to cut through the noise to elevate high-quality games.üA strong brand—built around a curated portfolio with clear genre, tone, or design focus—builds trust, recognition, and attracts like-minded developers.üTraditional PR connections are losing impact as media influence fades; they’re no longer enough to drive meaningful reach.üInfluencer-led publishers, like Dunkey’s Bigmode, benefit from large, built-in audiences and community engagement giving them a head start when announcing new titles.üTo stay ahead, smaller traditional publishers should take note and adopt a community-first mindset and treat engagement as a core part of their brand strategy. Thank you for reading!
We ’ re h e re t o h e l p yo u m a ke t h e d e c i s i o n s t h a t c o u n tThe answersthat matterGaming experts, custom research and consultingActExtract insightsInterpretBest-in-class proprietary data& platformDeep gamer insightsStorefront insightsMarket insightsGame-level metricsContact us92
From idea to industry leader.Helping you achieve success every step of the way.93Long-termstrategyConcept & game developmentPre-launch &Go-to-MarketLive ops & monetization01030204LaunchGreenlightLewis BaldwinBI & Market Trends AnalystMathias AhrensProduct Manager ApoovaGandhiLead Brand & Marketing ManagerNewzoo’s insightshave been integraltobusiness strategyandWarzone’sbrand growth, allowingustogaina new understandingof itspositionagainstcompetitors.We cannowtake better-informeddecisionsandlowertherisk inherentlyassociatedwithgame development andinnovation.We’vebeen abletochange howwe target andbudget todo more campaignsandactivitiesin themost viableregionsmore effectively in line withourKPIs. Uncoveringthese marketshelpedusseewherewe neededtofocus ourattention.Robin GaleConsumer InsightsandBrand MetricsManagerWhilewe had plenty of data aroundlaunch, from sales numberstosocialreachandviews, Newzoo helpeduscut throughthenoisetounderstandwhatworked, andwhatdidn’t, aboutourcampaign.Explore our case studies
Ta k e a p l a t f o r m t o u rContact usThe global leader in PC & console games dataData. Research. Consulting.
