Largest gaming companies in the world by games revenue: the top 18 from their own results

This list is for people who sell to game companies (tools, cloud, ad tech, localization, QA, recruiting) and for anyone who needs a current, sourced ranking of the biggest video game businesses. Every figure comes from the company's own annual report, 10-K, 20-F or full-year results release, with the fiscal year it covers and a note on whether it is a games segment or the whole company. "Gaming" here means video games. Casino and gambling companies, which also call their business gaming, are a different industry and aren't on this list.

The 18 largest gaming companies by games revenue

Dollar figures are our conversions at the Federal Reserve's 2025 annual average rates (G.5A, 5 January 2026): 7.1875 yuan, 149.5686 yen and 1,421.3963 won per dollar, and $1.1306 per euro. Fiscal years ending March 2026 are converted at the same calendar 2025 average, so treat the Japanese and European dollar figures as approximate. Changes are in each company's own currency, against the prior year in the same document.

Notes on the rows that need one:

• Sony's segment total includes ¥115.6 billion of sales to other Sony businesses; sales to outside customers were ¥4,570.1 billion. Both figures include PlayStation hardware as well as software and network services.
• Microsoft's FY2026 10-K renames the line "XBOX (formerly Gaming)" and counts XBOX hardware with content and services. The 10-K says XBOX content and services fell 5%.
• Electronic Arts completed its merger with Oak-Eagle AcquireCo on 4 August 2026, becoming a wholly owned subsidiary, so the 10-K for the year to 31 March 2026 is its last public annual report.
• Krafton's figure comes from preliminary results under Korean IFRS.
• Ubisoft also reports net bookings of €1,525.1 million, down 17.4%. Both changes are against restated 2024-25 figures. We use IFRS 15 sales, the revenue line in its accounts.

What the ranking shows

Platform holders lead. Tencent, Sony and Microsoft together reported about $86.7 billion, 55% of the $157.5 billion on this list. Sony and Microsoft sell consoles and subscriptions as well as games, and their figures include hardware. Nintendo, fourth, also sells its own console, and its year shows how much a new console moves the number: net sales rose 98.6% to ¥2,313.1 billion as Nintendo Switch 2 sold 19.86 million units in the fiscal year after its June 2025 launch, according to Nintendo's results.

Growth is uneven. Roblox (up 35.8%), Garena (26.1%), Krafton (22.8%), Konami's games business (21.5%) and Take-Two (18.2%) grew fastest among the 18. Microsoft's XBOX line fell 7% and Ubisoft's sales 21.8%. Tencent's international games revenue alone was RMB 77.4 billion (about $10.8 billion), bigger than every company on the list below NetEase.

Most people work in studios. Take-Two's 10-K counts 12,909 full-time employees, of whom 9,998 work in development studios and 1,456 in sales and marketing. Capcom reports 3,976 employees, 3,011 of them in development. Roblox says about 75% of its 3,065 full-time staff are in product and engineering, and that it also had "thousands of trust & safety agents across the globe" in addition to those employees. That shape matters if you sell to these companies: the users, and often the budgets, are in the studios.

Revenue per employee varies tenfold. Our calculation, from the employee counts each company reports:

Platform and mobile businesses run lean; console publishers with large studio teams don't. For other industries, see the companies with the highest revenue per employee.

How we built the list

1. What's counted. Revenue from games as the company reports it. Where games are one business inside a larger company (Tencent, Sony, Microsoft, NetEase, Bandai Namco, Konami, Sea, Sega Sammy), we use the games segment or revenue line and say so. Where the company is mainly a game business, we use total revenue.
2. Which year. The latest full fiscal year in an annual report or results release published by 30 October 2026. Japanese companies' years mostly end in March; Tencent's, NetEase's, Nexon's and the Korean companies' end in December.
3. Currency. Each figure appears in its reporting currency, then converted at one stated set of rates. NetEase's own 20-F converts at a different rate, so our dollar figure won't match its convenience translation.
4. What's missing. Private developers and publishers that don't publish results, game businesses inside companies that don't report them separately, and companies whose results we couldn't open in a primary document when we checked, including Square Enix. Bookings, monthly players and market value aren't used, because companies define them differently.

Analyst firms publish their own rankings of the top public game companies by revenue, and Wikipedia keeps a list as well. They mix fiscal years and definitions, so expect their figures to differ from these.

Selling to the largest gaming companies

Know which kind of company you're calling.

Find where the decision sits. Studio heads, technical directors and producers choose most tools and outsourcing partners for their own games, inside a budget the publisher sets. Central teams (platform engineering, IT, security, finance, procurement) own shared infrastructure and sign the master agreements. A tool that one studio adopts often spreads to the others once central procurement has a contract in place, so a first deal with one studio is a normal way in.

Time it to the release calendar. Studios lock vendors months before a launch and change them reluctantly during one. Live-service games add vendors around seasonal updates and expansions into new markets. The results releases cited below list the year's launches; read them before you call, along with our guide to account research. To reach the right producer or director, see how to find decision makers.

Worked example

Illustrative example. Relay Loc (relayloc.example) sells localization and language testing for live games at $35,000 per language per title per year. Its seller looks for companies whose revenue outside their home market is growing, because those are the companies adding languages:

1. Shortlist from the table. Tencent's international games grew 33%, Garena's segment 26.1% and Krafton 22.8%. Krafton is the right size to start: one company, with revenue up 22.8% and the growth explained in its own results release.
2. Size the deal. Adding five languages to one live title is 5 x $35,000 = $175,000 a year. Three titles is $525,000 a year.
3. Check it against the account. Krafton's KRW 3,326.6 billion is about $2.34 billion, so $525,000 is about 0.02% of its revenue. That's a decision for a title's publishing or live-ops lead with the localization manager, not for the board, and central procurement handles the paperwork afterwards.
4. Open with the trigger. The first message names the market the title is expanding into and the update the seller expects to ship next, both taken from the company's own results release.

At volume, this research is the slow part; Bebop does it for each account in a list and drafts the first message.

Next step: compare these companies with the wider entertainment industry on our list of the largest media companies.