Newzoo Projects PC to Surpass Console Revenue by 2028

In a recent analysis by Newzoo, it is projected that by 2028, PC revenue will eclipse that of console gaming. The forecast indicates a compound annual growth rate (CAGR) of 6.6% for PC gaming from 2025 to 2028, compared to 4.4% for consoles. This insight was shared by Newzoo’s Director of Consulting, Ben Porter, during the GDC Festival of Gaming.

Trends in Gaming Revenue Growth

The overall gaming market—encompassing both PC and consoles—is anticipated to reach a total revenue of $103.7 billion by 2028. Newzoo highlighted that the combined revenue for PC and console gaming saw a 7% year-over-year increase, reaching $88.3 billion in 2025, with expectations to hit $94.3 billion in 2026. This growth marks a notable recovery following the pandemic when growth had slowed.

Key Drivers of PC Revenue

• Premium games made up 29% of total PC revenue, driving significant growth.
• Growth in premium titles across AAA, AA, and indie games increased by 11.8%.
• There was a rise in player engagement outside of the top 20 titles, moving from 33% in 2022 to 42% in 2025.

The global player base for PC gaming is projected to exceed one billion by 2028, bolstered by expanding markets in East Asia, particularly China, South Korea, and Japan. While China leads in player numbers, South Korea and Japan exhibit higher average revenue per user (ARPU).

Console Gaming Trends

In contrast to PC revenue trends, the console market remains reliant on blockbuster titles and hardware sales. In 2025, premium titles accounted for roughly half of total console revenues, marking a 12% increase year-over-year. Notably, games priced above $50 represented nearly 80% of premium revenue. However, microtransaction revenue declined slightly, reflecting challenges within live-service ecosystems.

Emerging Pricing Trends

The Newzoo report also analyzed premium pricing dynamics. In key Western markets—including the US, UK, Germany, France, Spain, and Italy—premium spending increased in 2025 despite a dip in total playtime. The $30 to $50 price range is identified as the fastest-growing segment for premium games, representing a sweet spot for cross-platform pricing.

• On PC, titles priced under $30 gained popularity, with 26 games surpassing $5 million in revenue in 2025.
• The sub-$30 new release segment grew by a remarkable 156% in 2025.

The Impact of Game Pass on Console Sales

Newzoo’s research also explored the implications of Xbox Game Pass on game sales. Titles priced above $50 continue to dominate, though there is noticeable flattening in some cases. The Game Pass model allows players to explore various titles with less commitment, but it has also affected sales rankings of day-one launch titles.

Porter noted that while Game Pass may boost player engagement, it also leads to a less impressive sales performance on the Xbox platform compared to PC.

As the gaming landscape evolves, Newzoo’s projections signal a shifting balance between PC and console revenue streams, making the next few years critical for the industry.