According to a recent report from Newzoo, global PC and mobile gaming revenue decreased by 2.2% in 2022, reaching $92.3 billion. Between 2021 and 2022, the average usage decreased by -23% across Steam, Xbox, and PlayStation.
In terms of revenue breakdown by market, console games dominated with 56.2%, while boxed and downloaded PC titles held 41.3%, and browser PC games only accounted for 2.5% of global game spending.
The US led the market in terms of revenue with $31.2 billion, representing 34% of the market share. Behind it, the Asia-Pacific area accounted for 33% of all game spending, or $30.2 billion. With $24.3 billion in total income from PC and console games, or 26% of the market, Europe came in third.
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Additionally, with a combined 48% of the market, the US and China dominated the industry in 2022.
NBA 2K23 was among the top performers in generating revenue during its initial launch month, thanks to its successful combination of premium pricing and microtransactions. Additionally, the US market’s PC and console revenue saw almost half of its earnings coming from in-game spending, demonstrating that highly successful titles are embracing innovative methods to monetize and utilize the games-as-a-service business model.
“Of course, building and remaining profitable is not necessarily becoming easier. Companies will need to exercise creativity to conquer their corner of the PC and console market. Subscription services, remasters and remakes, IP licensing, and microtransactions will be viable options for boosting profits and mitigating risk,” said Newzoo.
The PC and console market experienced a surge in activity during the pandemic, which is why it’s unsurprising that sales have decreased as some parts of the world have reopened and live entertainment options have become available once again.
Feature image: Alexander Kovalev via Pexels
