2025 Copyright & redistribution notice ©2025 Newzoo. All rights reserved. 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 byany means, including photocopying, recording, or other electronic or mechanical methods, or used inany 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. Contents The PC and console market outlook10 Playtime analysis19 How many games do we really play?43 Special topic: Recursive nostalgia68 Special topic: Steam visibility80 What's Next?90 Meet the authors of this report Emmanuel RosierDirector of Market Intelligence Spyros GeorgiouDesign Lead Ben PorterDirector of Consulting Michael WagnerSenior Market Analyst Siyi ZhangDesign Intern Lynn van den HovenMarketing Specialist Brett HuntMarket Analyst MichielBuijsmanPrincipal Market Analyst The state of PC and console gaming in 2025 Welcome to the third edition of Newzoo’s annual PC and console report. In 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 leveragerigorous analysis and industry-leading data scienceto deliver the most comprehensive and accurate snapshot of the PC and consolegaming landscape, empowering you to navigate challenges and capture emerging opportunities. In this report, we firstexamine the market's performance in 2024. We then examine how upcoming game releases, changing consumer behaviors,and monetization strategies willshape the market toward 2027. Building on last year's groundbreakingPlaytime Analysis, we present anupdated, in-depth look athow 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 gamesplayers 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: üRecursive Nostalgia: Explore how major live-service games leverage their histories to drive ongoing player engagement through nostalgicexperiences. üSteam Visibility:Gain actionable insights into discoverability, identifying best practices for standing out in Steam’s increasingly competitivemarketplace. By the end of this report, you'll be equipped with actionable insights intomonetization strategies, playerengagement trends,platform-specificnuances, and effectivediscoverability tactics. This free resource draws from theNewzooPlatform, focusing on theGame Performance Monitor, with supporting data and insights from all ourtools. We also delve into ourGames Market Reports and Forecastsfor valuable market context. We hope you enjoy reading it as much as we loved writing it. Thanks for tuning in. Key takeaways PC & consolemarket outlook How many gamesdo we really play? Playtime analysis üOverall playtime hours are growing butconcentrated in AAA and at times cannibalistic;the battle for audience hours is fierce and nearzero sum üNumber of games played is down on Xbox andSteam from COVID peak üPC popularity remains stable with mutedrevenue growth, while console revenue growthwill be driven by GTA VI and Nintendo Switch 2 üPlay habits are calcifying into fewer games,reducing addressable market for new launches üAll business models are viable, but not at thesame scale on every platform üPC skews heavily towards older, F2P titleswhile console is slate dependent üF2P drives significant interest, but players areoften very quick to churn üBarring radical outliers, titles’ growth to comefrom share shift üLaunching a successful F2P game requires acombination of strong IP, great gameplay, andfavorable market conditions üAdventure and Role playing titles are on therise for those who enjoy playing more titles Recursive nostalgia Steam visibility üDiscounting events are driving less visibility tostore pages üReintroducing "classic" content can reigniteinterest but often lacks long-term stayingpowerüCompanies that successfully leverage nostalgiause it as part of a future-oriented strategy tosustain player interest rather than a one-offtactic üOff platform traffic grows in importance asdiscounting becomes less effective at drawingsteam page views Written by Newzoo’s market analystsPowered by data from our Platform Your leading data platform and partner in PC & console gaming Game Performance Monitor Game Health Tracker Global Gamer Study Title-level consumerinsights, awareness andpurchase funnel Title-level engagement (MAU, DAU, playtime,churn, more) and digital revenue data forthousands of PC & console games. Yearly in-depth surveyprofiling