Stifel Financial Corp. provided a detailed overview of the 2024 slate for console and PC video games and its potential impact on the broader gaming industry.
One of the pivotal observations highlighted in the financial firm’s latest report is the comparative assessment between 2024’s and 2023’s gaming lineups.
The upcoming slate for 2024 appears weaker in comparison to the remarkable array of new game releases witnessed in 2023, the analysts asset.
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This comparative analysis underscores the potential challenge in surpassing or even replicating the sales performance of the previous year, signaling a shift towards the monetization of existing franchises.
“While ’24 will be the fourth full year of this console cycle which typically features a higher title count vs. the first few years, when it’s all said and done, we think ’23 could go down as one of the best years for new games, particularly the number of “mega hits” the slate produced, including Hogwarts Legacy, The Legend of Zelda: Tears of the Kingdom, Diablo IV, Baldur’s Gate 3, Starfield, and Marvel’s Spider-Man 2, among others, which creates a difficult comparison,” Stifel analyst Drew E. Crum said.
He added: “Additionally, ’23 benefited from games that were originally scheduled to be released in prior years, but delayed for various reasons, including complications from COVID-19.”
Moreover, projections regarding consumer spending within the global gaming market indicate a probable stagnation or slight uptick.
Forecasts suggest a projected decline in consumer spending on new console and PC games by a low double-digit percentage, estimating a value of approximately $40 billion. This segment represents roughly 20% of the total global gaming industry, which is anticipated to remain stable or show marginal growth.
The report identifies Take-Two Interactive Software Inc (NASDAQ: TTWO) and Electronic Arts Inc (NASDAQ: EA) as relatively favorable prospects amid the forecasted market landscape. Take-Two’s anticipation for the imminent launch of GTA VI is perceived as a potential catalyst for growth, while Electronic Arts demonstrates resilience through its strong base in live services, contributing significantly to net bookings.
Regarding the launch…
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