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Q3 2023
Gaming Report
November 14, 2023
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Despite a slump, content is still king for gaming
Gaming is facing difficult headwinds: In Q3, across 113 deals, $857 million was generated, representing a 10.3% and 35.3% decline, respectively. According to PitchBook’s latest Emerging Tech Research, however, VCs are still backing game studio startups, hoping to find the next blockbuster. To find that next hit, investors are betting on gaming analytics startups, which collect player information to help create new, more engaging experiences. You can read more about those startups and an update on the nascent Web3 gaming space in our latest Gaming Report.
Table of contents
Despite a slump, content is still king for gaming
Gaming is facing difficult headwinds: In Q3, across 113 deals, $857 million was generated, representing a 10.3% and 35.3% decline, respectively. According to PitchBook’s latest Emerging Tech Research, however, VCs are still backing game studio startups, hoping to find the next blockbuster. To find that next hit, investors are betting on gaming analytics startups, which collect player information to help create new, more engaging experiences. You can read more about those startups and an update on the nascent Web3 gaming space in our latest Gaming Report.
Table of contents
| Vertical update | 3 |
| Q3 2023 timeline | 6 |
| Gaming landscape | 7 |
| Gaming VC ecosystem market map | 8 |
| VC activity | 9 |
| Emerging opportunities | 17 |
| Analytics | 18 |
| Web3 games | 21 |
| Select company highlights | 24 |
| Pahdo Labs | 25 |
| Embrace | 26 |
| Story Protocol | 27 |