Excluded categories include other forms of content and IP sales, but more importantly the sales of any gaming hardware and equipment (including consoles) as well as gaming software such as streaming services (e.g., Twitch), gamer communication (e.g., Discord), game engines (e.g., Unity), and other items.Īfter incorporating gaming-specific hardware and software (e.g. The market size most frequently cited for the global games industry comes from Newzoo, which puts it at $175.8B in 2021.² However, as mentioned, this sizing ignores several key segments outside of gaming content and virtual goods purchases. ![]() It is more important than ever that entrepreneurs, business leaders, and investors understand the full scope of the gaming environment in order to have the opportunity to succeed. As our analog and digital lives converge ever closer, gaming and interactive entertainment will likely be ubiquitous in our new Synthetic Reality. Revenue no longer ends with PC, console, and mobile, but also VR and blockchain gaming.Īs two organizations focused on the future of games and interactive entertainment, we at BITKRAFT and Naavik felt it was critical to undertake this exercise in order to reframe the conversation. Gaming hardware no longer encompasses only consoles, but also esports peripherals and streaming equipment. Segments that were once ignored have now matured to support legitimate growth businesses. ![]() Just as the definition of a “gamer” has evolved, we believe so too must the definition of the “games industry”. Having an accurate picture of the market is important when designing new games, launching new products (or businesses), and judging investment opportunities. So too have gaming hardware and streaming peripherals, the sales of video game consoles, as well as emerging gaming platforms, to say nothing of the growing swath of blockchain games and play-to-earn ventures. Areas such as esports, gaming-related adtech, and game streaming have previously been ignored. Both of these approaches exclude several important sectors, including entire verticals that depend upon games and gamers as their primary sources of revenue. Others have approached the market sizing exercise by looking only at public company valuations. sales and in-app purchases from PC, console, and mobile titles). To preface our approach, previous attempts to size the industry have been smaller in scope, limiting their measurements to revenues from games software alone (e.g. ![]() As a result-and as this report breaks it down-we have developed what we believe to be a more holistic method of measuring the size and scope of the global games industry. Nevertheless, and as counterintuitive as it may sound, to us at BITKRAFT and Naavik, we believe $175B remains an incomplete underestimation of gaming’s potential market size. And to complement this new standing, among these media categories, gaming is also the fastest-growing at around 10%, according to various industry research firms including Newzoo or WSJ / Activate. Having recently claimed the leading position from long-term media behemoth linear television, gaming today is larger than the global music, film, and on-demand entertainment sectors combined. In 2021, gaming-consistently reported as a roughly $175B industry¹-stands as the largest media category by revenue. ![]() Pre-alpha began last year, and it sounds like alpha will launch later in 2022.A collaboration between BITKRAFT Ventures and Naavik Clockwork Labs credits Skycatcher, a game focused investment fund based in Texas, with providing the first major funding helping to jumpstart the project.”Īccording to the press release, the funding will be focused on scaling up the team, which is actively hiring. A16z and Baszucki join an existing list of investors and games industry legends and leaders, including Supercell, CCP Games CEO Hilmar Petursson, and Unity co-founder David Helgason. David Baszucki, Roblox founder and CEO, also participated in the round as a private investor. “Clockwork Labs today announced they closed $22M in Series A funding led by Andreessen Horowitz to further develop their community sandbox MMORPG, BitCraft, alongside a new unannounced database technology which powers the game. Well, add a few more dollars to the pile of money and big names funding the game, as Clockwork announced today that it’s closed a Series A funding round, netting $22M in investment. The game’s been notable thanks to its big-name investors, who included CCP Games’ Hilmar Petursson, and it has been relatively quiet this year during development, with a few granular dev blogs and lore posts along the way. Just a few weeks ago, we did a check-in on BitCraft, the procedurally generated sandbox MMORPG from Clockwork Labs.
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