Bain & Company: No single gaming experience appeals to over 26% globally

The report quantifies concentration: the top 20% of spenders account for 73% of total spending, while the top 20% of most active players account for 59% of all playtime. Spending willingness falls sharply with age — 86% of teenagers spent monthly on game activities versus 27% of players in their 70s. Bain projects global gaming software revenue to reach $232 billion by 2029 at a 3% annual growth rate.

Direct-to-consumer sales on mobile are growing fast. Nearly half of all gamers have bought virtual currency or in-game content directly from a developer’s website in the past 12 months, and 27% did so repeatedly; mobile and PC/console players reported similar direct-purchase rates. Three-quarters of top-grossing mobile games now run their own web stores, up from 12% in 2019. Mobile D2C revenue reached about $17 billion last year, roughly 15% of the mobile in-app purchase market, and D2C share rose from 25% to 40% of total revenue in the last year for Modern Times Group and Playtika.

Bain highlights what drives repeat direct purchases: discounts alone barely changed behavior in the survey, while personalised offers mattered. Eighty-four percent of repeat direct buyers said a tailored offer would make them more likely to buy again, and direct buyers were nearly five times as likely to have increased their spending over the past year. Younger players are active buyers too: 40% of 13- to 17-year-olds reported making multiple direct purchases in the past year. The report also notes platform-fee shifts that helped D2C: Google reduced its baseline commission from 30% to 20%, and down to 15% under certain conditions after a settlement with Epic, a change that coincided with Fortnite’s return to Google Play.

Bain analyzed 100 titles released since 2023 and compared focused versus unfocused designs: 83% of focused games achieved commercial success, compared with 50% of unfocused ones. The report warns that AI speeds up a studio’s bet—right or wrong—and gives a concrete outcome: one free-to-play company using AI decisioning tools increased revenue per player from a liveops campaign by more than 50%. The authors point to personalisation as the next lever for growth as top-line expansion slows.