LOS ANGELES--(BUSINESS WIRE)--Griffin Gaming Partners, one of the world’s largest venture capital firms focused on the global gaming market, has partnered with Rendered VC, a specialist fund, to release the 2023 Game Development Report. This in-depth study highlights key issues with game production and studio technology that companies are facing as the industry embraces an era of live services.
In contrast to player preferences and industry trends, game development has historically been an opaque field where data exists mostly in the tribal knowledge of highly skilled professionals. As the barriers to launch a game fall and the bar for blockbuster hits rise, game development practices and technology have drawn the attention of corporate strategy, industry analysts, and investors. This report serves as a call for innovation and funding to critical areas for sustainable growth of the games industry.
“Games with live-service dependent go-to-market strategies require developer efficiency that today’s game tech isn’t built to deliver,” said Jiten Dajee, Partner at Rendered VC. “Some teams fall flat. Others build new best-practices and invest in emerging tools to run circles around their competitors. Those are the companies of the future.”
The research methodology included a survey of 537 global studios and 60+ interviews with industry experts, ensuring a robust and representative view of the industry. The report features insights and advice from respected studios such as Electronic Arts, a leading publisher of games on Console, PC, and Mobile; Bandai Namco, the multinational video game publisher and creators of Pac-Man and ELDEN RING; and Second Dinner, the award-winning developer behind the popular mobile game, MARVEL SNAP.
Key Insights:
- Live Service Dominance: 65% of studios actively work on and 30% plan to release regular update cadences for their games, highlighting the industry's shift towards a live service era.
- Pipeline Challenges: 68% of producers believe their production pipelines are not suitable for live services, and 53% of large studios expect to struggle with managing technical debt, indicating the need for innovative solutions in production processes.
- Embrace of Off-the-Shelf Tools: 65% of studios plan to increase their use of off-the-shelf tools, showcasing the industry's quest for better technology solutions.
“Combining emerging technologies such as AI, blockchain, hardware, and cloud with advancements in game development processes akin to the evolution of modern software development, will enhance efficiency and foster innovation in genres and business models,” said Pierre Planche, Partner at Griffin Gaming Partners. “This has historically created new category leaders and double-digit growth and highlights the current opportune moment for technology transformation. This report aims to inform and inspire emerging leaders dedicated to creating the tools and solutions that will propel the gaming industry into its next phase of growth.”
The research not only highlights current industry trends but also serves as a roadmap for future transformation and improvements. To access the full analysis and additional insights, download the 2023 Game Development Report: bit.ly/2023GameDevelopmentReport.
About Griffin Gaming Partners:
Griffin Gaming Partners is one of the world’s largest venture capital firms focused on the global gaming market with over $1B in assets under management. The firm was founded by Peter Levin, Phil Sanderson, and Nick Tuosto, with LionTree as a strategic partner to the Fund. Griffin invests in seed through growth stages across software infrastructure, content, and platforms in gaming. For more information visit: www.griffingp.com.
About Rendered VC:
Rendered VC is a specialist early-stage fund with domain expertise in media and graphics led by General Partners Jiten Dajee, Ben Rathi, and Omead Sinai. Committed to reimagining the future of media technology, Rendered VC works hands-on with founders to solve the toughest challenges in 3D industries. For more information visit: www.rendered.vc
