Global video game content revenue climbed to $195.6 billion USD in 2025, marking a 5.3% annual increase. Private financing, however, contracted 55%, according to Epyllion’s State of Video Gaming 2026 report, led by CEO, Matthew Ball. The industry extended its growth streak to three years and set a new earnings peak despite tightening capital flows.
Production economics continued to shift toward external partners. Outsourcing represented 35.5% of total content investment last year, rising from 30.6% in 2017 and 31.5% during the pandemic period.
The report described an “increasing reliance on outside partners for core creative work,” with 60% to 95% of animation, audio, and environmental design executed externally. “Flexible skillset” ranked as the leading adoption factor.
Credit allocations reflected this structure, including Hollow Knight: Silksong, which listed three internal contributors versus 94 external. Palworld followed a similar pattern, recording 97 internal and 93 external credits, including 80 tied to Keywords Studios.