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Global Video Gaming to hit $300 billion by 2029, outpaces film and music combined: PwC
In 2024, the global video games market clocked $224 billion in revenue, already larger than the combined revenues of the global movie and music industries. Over the next five years, it’s projected to grow at a compound annual growth rate (CAGR) of 5.7%, reaching nearly $300 billion by 2029.
In-game advertising alone is set to rise from 32.8% in 2024 to 38.5% in 2029, as brands increasingly tap into gaming’s massive, engaged audiences.
The global entertainment and media (E&M) industry is on track to surpass $3.5 trillion by 2029, but it’s video gaming that continues to outplay all other segments, according to PwC’s Global Entertainment & Media Outlook 2025–29.
In 2024, the global video games market clocked $224 billion in revenue, already larger than the combined revenues of the global movie and music industries. Over the next five years, it’s projected to grow at a compound annual growth rate (CAGR) of 5.7%, reaching nearly $300 billion by 2029.
While overall E&M growth is expected to average 3.7% CAGR, moderate due to economic pressures and slowing consumer spending, video gaming is outpacing the pack, driven by surging mobile gaming, in-game advertising, esports and new monetisation models.
Advertising-led revenue models are also powering the sector. In-game advertising alone is set to rise from 32.8% in 2024 to 38.5% in 2029, as brands increasingly tap into gaming’s massive, engaged audiences.
Globally, digital advertising continues to dominate the E&M space, and gaming is at the core of this shift. With AI, hyper-personalisation and immersive experiences on the rise, the gaming ecosystem is becoming even more attractive to both consumers and advertisers.
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