Global video game content revenue hits $54 bn in Q1 2026, led by Tencent and single‑player growth

S&P Global Market Intelligence reports that worldwide revenue from video‑game content reached $54.14 billion in the first quarter of 2026, a 3.6 % increase over the same period last year and the seventh straight quarter of growth. The market, which counts software, in‑game purchases and subscriptions but excludes hardware, is being driven by Chinese giants Tencent ($9.60 bn, +8.4 %) and NetEase ($3.62 bn, +12.3 %).

Capcom’s earnings surged 89.8 % to $451.8 million, propelled by the record‑breaking launch of Resident Evil Requiem, while Pearl Abyss posted a 468.6 % jump to $328.1 million on the back of Crimson Desert. PC platforms grew fastest (+7.8 % to $12.11 bn), mobile remained the largest segment at $30.53 bn (+2.5 %), and consoles lagged with a modest 1.3 % rise to $9.81 bn. Ubisoft saw a steep 48.7 % revenue drop tied to delayed Assassin’s Creed releases and announced studio closures affecting about 380 jobs. Other firms reported declines: Embracer Group (‑35 %), Sega (‑16.7 %). Sony’s content revenue rose 6.3 % to $2.87 bn despite a $765 million impairment on Bungie, and Microsoft’s gaming revenue slipped 0.2 % to $4.12 bn, largely due to weaker Xbox hardware sales.