"The Digital Gaming industry continues to be a juggernaut in the face of the pandemic, with 2Q ushering in unprecedented earnings growth, soaring game and console sales, and record viewership across streaming platforms. While the momentum in the overall gaming industry is undeniable, Forbes believes that there are cracks in the façade, particularly related to the esports sector. We touch on this potential bubble on p.13 and will be publishing a report specifically on this topic in the coming month.” - JJ Lane, Head of Forbes M+A Digital Gaming Group
Unstoppable Rise of Competitive Gaming on Mobile | Tom WijmanJessica Tams
Delivered at Casual Connect Europe 2018. Competitive gaming is the latest trend in mobile gaming, bringing the ‘core’ gaming experience from PC and Console to mobile devices. In this talk, Tom Wijman will examine the rise of competitive gaming, the trends that are driving it, and what this means for mobile gaming as a whole. He will also explore the impact that the growth of competitive gaming is having on mobile esports and how this differs between the East and the West.
Dematerialisation affects all segments of the video game industry. It has led to disintermediation in the value chain and raises questions over the role of certain stakeholders downstream. It has afforded new power to developers, who now have the opportunity to speak directly to their gaming customers. 'Online' has ultimately eroded a silo-based industry structure and allowed practices and cross-platform services to emerge that both benefit gamers and boost creativity within the sector.
More than half of world video game revenues comes from digital sales and competition in the segment of mobile games is rife. Even if the game experience is quite different, smartphones are getting to compete with handheld and home consoles. What are the buying behaviours in the different target groups and which business models can producers plan? Facts and prospective insights into this fast-moving industry.
Unstoppable Rise of Competitive Gaming on Mobile | Tom WijmanJessica Tams
Delivered at Casual Connect Europe 2018. Competitive gaming is the latest trend in mobile gaming, bringing the ‘core’ gaming experience from PC and Console to mobile devices. In this talk, Tom Wijman will examine the rise of competitive gaming, the trends that are driving it, and what this means for mobile gaming as a whole. He will also explore the impact that the growth of competitive gaming is having on mobile esports and how this differs between the East and the West.
Dematerialisation affects all segments of the video game industry. It has led to disintermediation in the value chain and raises questions over the role of certain stakeholders downstream. It has afforded new power to developers, who now have the opportunity to speak directly to their gaming customers. 'Online' has ultimately eroded a silo-based industry structure and allowed practices and cross-platform services to emerge that both benefit gamers and boost creativity within the sector.
More than half of world video game revenues comes from digital sales and competition in the segment of mobile games is rife. Even if the game experience is quite different, smartphones are getting to compete with handheld and home consoles. What are the buying behaviours in the different target groups and which business models can producers plan? Facts and prospective insights into this fast-moving industry.
The casino and online gaming market to 2015
Introduction: about this study 2
Executive summary: key trends 4
Part I: Casino gaming 6
Global overview 7
United States 8
EMEA 12
Asia Pacific 16
Latin America 20
Canada 22
Part II: Online gaming 24
The elephant in the room 25
Regulating within borders: an interim step 27
Emerging change drivers 34
The global market in 2015—region by region 36
Conclusion 38
Should we continue investing in our game? This is an essential and challenging question for all the game producers and publishers. Answering this question based on data is the most assured solution, but data analysis always has its own challenges such as: • What kind of data and what amount of data is valid for making decisions? • Which target audience and what kind of tests can give us insights? • Which version of our game is finalized enough to be tested? • How can we assign KPIs to our games? A successful game is consisted of three connected key parts: I. Attraction: Fun core game mechanics II. Engagement: Addictive core loop and meta game III. Monetization: Solid Monetization strategy For answering these questions, in Medrick Game Studio we have designed a chain of instructions: Step 1: Game Concept Step 2: Session Design Step 3: Prototype Step 4: Extended Prototype Step 5: Data Design Other topics that will be discussed are: • Soft launch proposes and attributes • Tests process • Iterations • User segmentation • PRM: Player Relationship Management • Tools
Panel Discussion: Is content eating the world?The GSMA
Matthew Iji (GSMA Intelligence), Jim Long (Didja, Inc) and Rob Topol (Intel Corporation) - Once upon a time, we were told that “software is eating the world.” Today we could say the same thing for content. Mobile video drives a need for network upgrades. Service providers are snapping up media companies. Gaming gets called out as a beneficiary of new mobile technologies. The intersection of content and the mobile ecosystem is clear. But questions remain about where it’s going and how universal it is.
Learn more by contacting us at info@gsmaintelligence.com.
Mobile Earns More but is PC Social Casino Dead? | Carter RogersJessica Tams
While social casino audience behavior has clearly shifted towards the mobile platform, reports from SuperData Research shows opportunities still exist within the PC audience. In this presentation, SuperData Research Lead Social Casino Analyst Carter Rogers will go beyond just looking at the numbers, focusing on the future of social casino and key takeaways for attendees to consider as they develop and improve their social casino products and move the social casino market forward.
In 2017, the Asia-Pacific was the largest regional market for digital gaming but in the present scenario funding in European gaming firms by Chinese acquirers are primarily driving the European market.
This is an edited version of the presentation I did at the NY Games Conference. It is a discussion piece on the top trends in gaming that I'm observing for the coming year. This includes remarks on Smartphones, prepaid game cards, F2P, and Trading Card Games.
Yuga Labs, the company that created the wildly popular Bored Ape Yacht Club NFT collection, is hoping to make hundreds of millions of dollars by selling off virtual plots of land. According to a leaked pitch deck obtained by The Block, the company also plans to launch a sweeping new metaverse initiative, as well as its own token.
Yuga's revenue last year reached a whopping $127 million, a figure it anticipates will reach $455 million by 2022 — largely from the sale of virtual land.
This leak comes after a flurry of activity in the blue-chip corner of the NFT sector: most notably, Yuga Labs announced the acquisition of the CryptoPunks and Meebits NFT projects’ intellectual property from Larva Labs just days prior. As of today, Yuga Labs owns two of the most valuable NFT projects on the market: BAYC and CryptoPunks projects have a combined trading volume of more than US$3 billion.
Read more: vip.graphics/yuga-labs-pitch-deck/
See the deck: bestpitchdeck.com/yuga-labs
The "gamerista 2015 Scenarios for the Future of Digital Games" strategic forecast looks at the global digital games marketplace and offers mega-trend predictions for the industry in 2015 and the major factors which will drive the digital video games marketplace.
This whitepaper is about the esports industry globally and in Indonesia.
The esports industry is growing rapidly in Indonesia. Esports has attracted a tremendous number of young audiences. It brings huge potential to engage a big audience and get monetize from it.
Player Engagement and In-Game AdvertisingTyler Pace
In this paper, we present an analysis of physiological engagement with advertising-rich video games. Physiological engagement was measured with OTOinsight’s Quantemo™ neuromarketing measurement platform. Analyzing the results from three separate physical traces in combination with eye tracking and interview data, we present a series of five insights for the design and dissemination of future in-game advertising.
Mobile Marketing Association, the global leading association for the mobile marketing industry, along with GroupM, world’s leading media investment group, today released its ‘Mobile Ecosystem and ad-Sizing Report’ 2018.
Established in 2005, Kings Entertainment is the parent company of global lottery brands LottoKings and WinTrillions. As international online service providers for lottery, casino, and sportsbook gambling, these brands leverage their ability to acquire pre-qualified players through renowned lottery offerings, then engage players in a range of casino and sportsbook offerings. LottoKings and WinTrillions have attracted and retained millions of player sign-ups since their inceptions.
The casino and online gaming market to 2015
Introduction: about this study 2
Executive summary: key trends 4
Part I: Casino gaming 6
Global overview 7
United States 8
EMEA 12
Asia Pacific 16
Latin America 20
Canada 22
Part II: Online gaming 24
The elephant in the room 25
Regulating within borders: an interim step 27
Emerging change drivers 34
The global market in 2015—region by region 36
Conclusion 38
Should we continue investing in our game? This is an essential and challenging question for all the game producers and publishers. Answering this question based on data is the most assured solution, but data analysis always has its own challenges such as: • What kind of data and what amount of data is valid for making decisions? • Which target audience and what kind of tests can give us insights? • Which version of our game is finalized enough to be tested? • How can we assign KPIs to our games? A successful game is consisted of three connected key parts: I. Attraction: Fun core game mechanics II. Engagement: Addictive core loop and meta game III. Monetization: Solid Monetization strategy For answering these questions, in Medrick Game Studio we have designed a chain of instructions: Step 1: Game Concept Step 2: Session Design Step 3: Prototype Step 4: Extended Prototype Step 5: Data Design Other topics that will be discussed are: • Soft launch proposes and attributes • Tests process • Iterations • User segmentation • PRM: Player Relationship Management • Tools
Panel Discussion: Is content eating the world?The GSMA
Matthew Iji (GSMA Intelligence), Jim Long (Didja, Inc) and Rob Topol (Intel Corporation) - Once upon a time, we were told that “software is eating the world.” Today we could say the same thing for content. Mobile video drives a need for network upgrades. Service providers are snapping up media companies. Gaming gets called out as a beneficiary of new mobile technologies. The intersection of content and the mobile ecosystem is clear. But questions remain about where it’s going and how universal it is.
Learn more by contacting us at info@gsmaintelligence.com.
Mobile Earns More but is PC Social Casino Dead? | Carter RogersJessica Tams
While social casino audience behavior has clearly shifted towards the mobile platform, reports from SuperData Research shows opportunities still exist within the PC audience. In this presentation, SuperData Research Lead Social Casino Analyst Carter Rogers will go beyond just looking at the numbers, focusing on the future of social casino and key takeaways for attendees to consider as they develop and improve their social casino products and move the social casino market forward.
In 2017, the Asia-Pacific was the largest regional market for digital gaming but in the present scenario funding in European gaming firms by Chinese acquirers are primarily driving the European market.
This is an edited version of the presentation I did at the NY Games Conference. It is a discussion piece on the top trends in gaming that I'm observing for the coming year. This includes remarks on Smartphones, prepaid game cards, F2P, and Trading Card Games.
Yuga Labs, the company that created the wildly popular Bored Ape Yacht Club NFT collection, is hoping to make hundreds of millions of dollars by selling off virtual plots of land. According to a leaked pitch deck obtained by The Block, the company also plans to launch a sweeping new metaverse initiative, as well as its own token.
Yuga's revenue last year reached a whopping $127 million, a figure it anticipates will reach $455 million by 2022 — largely from the sale of virtual land.
This leak comes after a flurry of activity in the blue-chip corner of the NFT sector: most notably, Yuga Labs announced the acquisition of the CryptoPunks and Meebits NFT projects’ intellectual property from Larva Labs just days prior. As of today, Yuga Labs owns two of the most valuable NFT projects on the market: BAYC and CryptoPunks projects have a combined trading volume of more than US$3 billion.
Read more: vip.graphics/yuga-labs-pitch-deck/
See the deck: bestpitchdeck.com/yuga-labs
The "gamerista 2015 Scenarios for the Future of Digital Games" strategic forecast looks at the global digital games marketplace and offers mega-trend predictions for the industry in 2015 and the major factors which will drive the digital video games marketplace.
This whitepaper is about the esports industry globally and in Indonesia.
The esports industry is growing rapidly in Indonesia. Esports has attracted a tremendous number of young audiences. It brings huge potential to engage a big audience and get monetize from it.
Player Engagement and In-Game AdvertisingTyler Pace
In this paper, we present an analysis of physiological engagement with advertising-rich video games. Physiological engagement was measured with OTOinsight’s Quantemo™ neuromarketing measurement platform. Analyzing the results from three separate physical traces in combination with eye tracking and interview data, we present a series of five insights for the design and dissemination of future in-game advertising.
Mobile Marketing Association, the global leading association for the mobile marketing industry, along with GroupM, world’s leading media investment group, today released its ‘Mobile Ecosystem and ad-Sizing Report’ 2018.
Established in 2005, Kings Entertainment is the parent company of global lottery brands LottoKings and WinTrillions. As international online service providers for lottery, casino, and sportsbook gambling, these brands leverage their ability to acquire pre-qualified players through renowned lottery offerings, then engage players in a range of casino and sportsbook offerings. LottoKings and WinTrillions have attracted and retained millions of player sign-ups since their inceptions.
This publication serves as the first in-depth DMCC (Dubai Multi Commodities Centre) thought leadership report on the global and local gaming and esports ecosystem. It gathers contributions from key opinion leaders to share their views on where the gaming and esports industry is heading and places emphasis on the drivers of gaming and esports from a technology, culture and business perspective.
This publication serves as the first in-depth DMCC (Dubai Multi Commodities Centre) thought leadership report on the global and local gaming and esports ecosystem. It gathers contributions from key opinion leaders to share their views on where the gaming and esports industry is heading and places emphasis on the drivers of gaming and esports from a technology, culture and business perspective.
eSports: Quite Possibly the Next Big Thing in Media/EntertainmentColin Sebastian
We estimate eSports-related revenues will increase from ~$200 million in 2015 to roughly $2 billion by 2020 driven by a combination of tournaments, advertising, sponsorships, broadcast rights, and fantasy/wagering, etc.
Please cite Baird as a source.
7 ways how your brand can benefit from the gaming industry. A presentation for advertising agencies, PR agencies, media agencies, marketeers and anybody working with brands.
Unlike the broader PC market, which continues shrinking, gaming PC sales are projected to increase over the next couple of years. According to NVIDIA, PC gaming accounts for nearly 40% of the overall gaming business. This percentage is higher than those for consoles, phones, tablets, phones, or any other individual gaming fragment.
PC gaming has seen a renaissance, partly thanks to superior graphics and processing but also the meteoric rise of the eSports scene and free-to-play games. Jon Peddie, president of Jon Peddie Research (JPR), notes that “NVIDIA, Intel, and AMD have enthusiast CPUs and GPUs that are so powerful, when combined with SSD’s and fast memory they absolutely trounce the computing power and gaming capabilities of the newest console generation.”
Gaming has become one of the cornerstones of the entire home and personal PC market. $1000 video cards are flying off the shelves, exciting and demanding new technologies like 4K and VR are on the horizon, and gamers are upgrading in accordance. As major companies evaluate their marketing and R&D budgets, JPR is seeing more investment in gaming oriented designs, and more money spent advertising to this group of consumers. JPR estimated that the gaming hardware market is expected to grow to $30 billion by 2018.
Now, the PC industry is betting BIG on gamers and core gamers are expected to drive recorded growth for PC games. In this report, I hope you can learn how eSports are saving the PC industry and how PC hardware vendors can take advantage of this growing opportunity.
1. Market observation: High end gaming market, eSports revenue market
2. Most popular eSports game titles
3. 2016 Gaming hardware market estimates
4. eSports revenue estimates
5. Most popular game titles
6. Purchase info source
7. Laptop purchase info source
8. Desktop purchase info source
9. Most followed gaming channels
Learn from an industry leader how the world of gaming and esports has become the most popular activity for GenZ & GenAlpha(6-24 year olds) overtaking social media, listening to music, browsing internet, and even watching tv or movies*. Deep dive into gaming publishers and the most popular games and esports titles along with insights into live streaming (Twitch, Youtube). Discussion on how brands can utilize these mediums to connect with this next generation of consumer.
Data and the Future of Gaming Post COVIDData Con LA
Data Con LA 2020
Description
Given the lock down, consumption for gaming has increased dramatically across the world. We see major changes in how data is used in running the game, marketing the game, and monetizing gameplay.
*Size of gaming and how behaviors have changed since COVID
*Data it's role of games as a service games (in game telemetry)
*What are people playing around the world during lock down and what does it say about them?
*How data is used for marketing and how does it translate to in game
Speaker
Kunny Berdow, Google, Principal Analytical Lead
Our CEO, Peter Warman, delivered Gameforum's keynote in January 2018 in London. Gaming has entered a new phase of accelerated growth from both a consumer and an industry perspective. Its “new” form is accelerating the convergence of the mobile, sports, media, and entertainment industries. What opportunities do these new dimensions of gaming provide anyone with a stake or interest in the games market and industry?
Essentials of Automations: Optimizing FME Workflows with ParametersSafe Software
Are you looking to streamline your workflows and boost your projects’ efficiency? Do you find yourself searching for ways to add flexibility and control over your FME workflows? If so, you’re in the right place.
Join us for an insightful dive into the world of FME parameters, a critical element in optimizing workflow efficiency. This webinar marks the beginning of our three-part “Essentials of Automation” series. This first webinar is designed to equip you with the knowledge and skills to utilize parameters effectively: enhancing the flexibility, maintainability, and user control of your FME projects.
Here’s what you’ll gain:
- Essentials of FME Parameters: Understand the pivotal role of parameters, including Reader/Writer, Transformer, User, and FME Flow categories. Discover how they are the key to unlocking automation and optimization within your workflows.
- Practical Applications in FME Form: Delve into key user parameter types including choice, connections, and file URLs. Allow users to control how a workflow runs, making your workflows more reusable. Learn to import values and deliver the best user experience for your workflows while enhancing accuracy.
- Optimization Strategies in FME Flow: Explore the creation and strategic deployment of parameters in FME Flow, including the use of deployment and geometry parameters, to maximize workflow efficiency.
- Pro Tips for Success: Gain insights on parameterizing connections and leveraging new features like Conditional Visibility for clarity and simplicity.
We’ll wrap up with a glimpse into future webinars, followed by a Q&A session to address your specific questions surrounding this topic.
Don’t miss this opportunity to elevate your FME expertise and drive your projects to new heights of efficiency.
Software Delivery At the Speed of AI: Inflectra Invests In AI-Powered QualityInflectra
In this insightful webinar, Inflectra explores how artificial intelligence (AI) is transforming software development and testing. Discover how AI-powered tools are revolutionizing every stage of the software development lifecycle (SDLC), from design and prototyping to testing, deployment, and monitoring.
Learn about:
• The Future of Testing: How AI is shifting testing towards verification, analysis, and higher-level skills, while reducing repetitive tasks.
• Test Automation: How AI-powered test case generation, optimization, and self-healing tests are making testing more efficient and effective.
• Visual Testing: Explore the emerging capabilities of AI in visual testing and how it's set to revolutionize UI verification.
• Inflectra's AI Solutions: See demonstrations of Inflectra's cutting-edge AI tools like the ChatGPT plugin and Azure Open AI platform, designed to streamline your testing process.
Whether you're a developer, tester, or QA professional, this webinar will give you valuable insights into how AI is shaping the future of software delivery.
Encryption in Microsoft 365 - ExpertsLive Netherlands 2024Albert Hoitingh
In this session I delve into the encryption technology used in Microsoft 365 and Microsoft Purview. Including the concepts of Customer Key and Double Key Encryption.
DevOps and Testing slides at DASA ConnectKari Kakkonen
My and Rik Marselis slides at 30.5.2024 DASA Connect conference. We discuss about what is testing, then what is agile testing and finally what is Testing in DevOps. Finally we had lovely workshop with the participants trying to find out different ways to think about quality and testing in different parts of the DevOps infinity loop.
Transcript: Selling digital books in 2024: Insights from industry leaders - T...BookNet Canada
The publishing industry has been selling digital audiobooks and ebooks for over a decade and has found its groove. What’s changed? What has stayed the same? Where do we go from here? Join a group of leading sales peers from across the industry for a conversation about the lessons learned since the popularization of digital books, best practices, digital book supply chain management, and more.
Link to video recording: https://bnctechforum.ca/sessions/selling-digital-books-in-2024-insights-from-industry-leaders/
Presented by BookNet Canada on May 28, 2024, with support from the Department of Canadian Heritage.
Key Trends Shaping the Future of Infrastructure.pdfCheryl Hung
Keynote at DIGIT West Expo, Glasgow on 29 May 2024.
Cheryl Hung, ochery.com
Sr Director, Infrastructure Ecosystem, Arm.
The key trends across hardware, cloud and open-source; exploring how these areas are likely to mature and develop over the short and long-term, and then considering how organisations can position themselves to adapt and thrive.
Elevating Tactical DDD Patterns Through Object CalisthenicsDorra BARTAGUIZ
After immersing yourself in the blue book and its red counterpart, attending DDD-focused conferences, and applying tactical patterns, you're left with a crucial question: How do I ensure my design is effective? Tactical patterns within Domain-Driven Design (DDD) serve as guiding principles for creating clear and manageable domain models. However, achieving success with these patterns requires additional guidance. Interestingly, we've observed that a set of constraints initially designed for training purposes remarkably aligns with effective pattern implementation, offering a more ‘mechanical’ approach. Let's explore together how Object Calisthenics can elevate the design of your tactical DDD patterns, offering concrete help for those venturing into DDD for the first time!
Builder.ai Founder Sachin Dev Duggal's Strategic Approach to Create an Innova...Ramesh Iyer
In today's fast-changing business world, Companies that adapt and embrace new ideas often need help to keep up with the competition. However, fostering a culture of innovation takes much work. It takes vision, leadership and willingness to take risks in the right proportion. Sachin Dev Duggal, co-founder of Builder.ai, has perfected the art of this balance, creating a company culture where creativity and growth are nurtured at each stage.
JMeter webinar - integration with InfluxDB and GrafanaRTTS
Watch this recorded webinar about real-time monitoring of application performance. See how to integrate Apache JMeter, the open-source leader in performance testing, with InfluxDB, the open-source time-series database, and Grafana, the open-source analytics and visualization application.
In this webinar, we will review the benefits of leveraging InfluxDB and Grafana when executing load tests and demonstrate how these tools are used to visualize performance metrics.
Length: 30 minutes
Session Overview
-------------------------------------------
During this webinar, we will cover the following topics while demonstrating the integrations of JMeter, InfluxDB and Grafana:
- What out-of-the-box solutions are available for real-time monitoring JMeter tests?
- What are the benefits of integrating InfluxDB and Grafana into the load testing stack?
- Which features are provided by Grafana?
- Demonstration of InfluxDB and Grafana using a practice web application
To view the webinar recording, go to:
https://www.rttsweb.com/jmeter-integration-webinar
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...DanBrown980551
Do you want to learn how to model and simulate an electrical network from scratch in under an hour?
Then welcome to this PowSyBl workshop, hosted by Rte, the French Transmission System Operator (TSO)!
During the webinar, you will discover the PowSyBl ecosystem as well as handle and study an electrical network through an interactive Python notebook.
PowSyBl is an open source project hosted by LF Energy, which offers a comprehensive set of features for electrical grid modelling and simulation. Among other advanced features, PowSyBl provides:
- A fully editable and extendable library for grid component modelling;
- Visualization tools to display your network;
- Grid simulation tools, such as power flows, security analyses (with or without remedial actions) and sensitivity analyses;
The framework is mostly written in Java, with a Python binding so that Python developers can access PowSyBl functionalities as well.
What you will learn during the webinar:
- For beginners: discover PowSyBl's functionalities through a quick general presentation and the notebook, without needing any expert coding skills;
- For advanced developers: master the skills to efficiently apply PowSyBl functionalities to your real-world scenarios.
State of ICS and IoT Cyber Threat Landscape Report 2024 previewPrayukth K V
The IoT and OT threat landscape report has been prepared by the Threat Research Team at Sectrio using data from Sectrio, cyber threat intelligence farming facilities spread across over 85 cities around the world. In addition, Sectrio also runs AI-based advanced threat and payload engagement facilities that serve as sinks to attract and engage sophisticated threat actors, and newer malware including new variants and latent threats that are at an earlier stage of development.
The latest edition of the OT/ICS and IoT security Threat Landscape Report 2024 also covers:
State of global ICS asset and network exposure
Sectoral targets and attacks as well as the cost of ransom
Global APT activity, AI usage, actor and tactic profiles, and implications
Rise in volumes of AI-powered cyberattacks
Major cyber events in 2024
Malware and malicious payload trends
Cyberattack types and targets
Vulnerability exploit attempts on CVEs
Attacks on counties – USA
Expansion of bot farms – how, where, and why
In-depth analysis of the cyber threat landscape across North America, South America, Europe, APAC, and the Middle East
Why are attacks on smart factories rising?
Cyber risk predictions
Axis of attacks – Europe
Systemic attacks in the Middle East
Download the full report from here:
https://sectrio.com/resources/ot-threat-landscape-reports/sectrio-releases-ot-ics-and-iot-security-threat-landscape-report-2024/
State of ICS and IoT Cyber Threat Landscape Report 2024 preview
Forbes Digital Gaming Report Summer 2020
1. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
IndustryReport–Summer2020
C O N F I D E N T I A L
DIGITAL GAMING
2. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
Click to edit Master title style
CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
Agenda
I
Digital Gaming
Overview
II
The Forbes
M+A Group
Overview
III
Appendix
1
3. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
I. Digital Gaming Overview
2
4. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
3
DigitalGamingOverview
Digital gaming consists of console, PC, and mobile games
and encompasses esports, streaming, and sponsorships.
Gaming is becoming more mainstream, merging the
casual and competitive scenes, reaching larger audiences
than ever before.
Mobile gaming is continuing to grow in popularity as the
mobile device population continues to boom.
Digital gaming is expected to reach $164.6B in revenue in
2020.
The U.S. and China are dominating the gaming universe
with nearly 50% of revenue market share.
DIGITAL GAMING OVERVIEW
~2.7 Billion
Gamers
Worldwide
21 - 45
Most Popular
Gaming Age
+5.2 Billion
Hours Streamed
in 2Q 2020
Source(s): Newzoo, Twitch Tracker
x
5. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
4
RecordGrowthin2QbutTroubleontheHorizon?
DIGITAL GAMING OVERVIEW
Source(s): Twitch Tracker, Newzoo, Konvoy Ventures, The Esports Observers, The Verge
Twitch users have streamed over 5 billion hours of content (over 570k years) in 2Q 2020, shattering the previous record of 3.2 billion hours in 1Q 2020
Mixer shuts down July 22nd after only 4 years of operating; current partners and streamers will be moved to Facebook Gaming
Video game spending reaches $6.6 billion in the first 6 months of 2020, increasing 19% from 2019
Revenue forecast for esports drops 8% as events slow down
The next gen consoles, Xbox Series X and PS5, are officially slated to be released in Q4 2020 and will soon start taking preorders
Mobile gaming continues to rise in popularity
– YoY mobile gamers installed 84% more gaming apps
– Mobile gaming users increased 14% in daily average users
Epic Games’ (developer of Fortnite) valuation reaches $17.6 billion as Sony acquires a $250 million minority stake
Tencent’s online gaming revenue increased 31% with the rise of people playing video games
“The Digital Gaming industry continues to be a juggernaut in the face of the pandemic, with 2Q ushering in unprecedented earnings growth, soaring
game and console sales, and record viewership across streaming platforms. While the momentum in the overall gaming industry is undeniable, Forbes
believes that there are cracks in the façade, particularly related to the esports sector. We touch on this potential bubble on p.13 and will be publishing
a report specifically on this topic in the coming month.”
JJ Lane – Head of Digital Gaming Group
x
6. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
“I think you're going to see a long-lasting increase in demand…And I think you're seeing a
systemic shift in favor of interactive entertainment.”
~ Strauss Zelnick, CEO of Take-Two Interactive
5
DoesGamingHaveStayingPowerBeyondthePandemic?
DIGITAL GAMING OVERVIEW
Source(s): CapitalIQ, MSN Entertainment
x
$0.84
$0.22
$0.43
$2.89
$0.63 $0.75
NasdaqGS:EA NasdaqGS:TTWO NasdaqGS:ATVI2Q 2019 2Q 2020
Game Publishers Experienced Dramatic YoY EPS Growth in 2Q…
+ 246.3% + 184.6% + 75.7%
…As Did Console Manufacturers With Consumers in Search of Entertainment
“With real world sports disrupted, EA SPORTS has become the center of the emotional
connection to sports, and we've brought millions of new, returning, and existing players into
their own personal sports stories through our games.”
~ Andrew Wilson, CEO of Electronic Arts
“Knowing how long COVID-19 lasts is unimportant to our video game valuation thesis because
video game companies benefit near term and long term from rapidly rising hours played,
broadening demos, more new games tried, higher in-game spending.”
~ Laura Martin, Needham Analyst
+ 166% + 64% + 32%
7. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
66
94 100 94
Mar-20 Apr-20 May-20 Jun-20
1,218
1,790 1,756
1,629
Mar-20 Apr-20 May-20 Jun-20
1.6
2.5 2.4 2.3
Mar-20 Apr-20 May-20 Jun-20
6
LargeandEver-ExpandingMarket
DIGITAL GAMING OVERVIEW
Source(s): Twitch Tracker as of 6/30/2020, Konvoy Ventures
2.2 million
Average Concurrent Viewers
1.6 billion
Average Hours Watched
(Viewers in Millions) (Hours in Millions)
210 million
North American Gamers88.5K
Average Concurrent Streamers
(Streamers in Millions)
Average concurrent viewers on Twitch sees significant rise
in April as more people turn to video games
The number of streamers sees multiple records in April
and May
Greater than 1/3 of the North American population is
playing video games
2Q 2020 broke the record for hours watched on Twitch
x
8. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
7
DiverseGamingDemographics
DIGITAL GAMING OVERVIEW
($ in Millions)
x
$1.6
$1.3
2020 2019
21.0%
38.0%
26.0%
9.0%
6.0%
< 18 18 - 34 35 - 54 55 - 64 +65
Video
Game
Player Ages
73.0%
43.0%
19.0%
25.0%
Console Handheld
System
VR Device Mobile VR
Video Game Players by Age Console Spending Through 2Q is up 23% in 2020 Devices Owned by Gamers
When People Play Years Spent Playing Video Games Why People Play(1)
After Work or School
51%
Waiting for
Appointment
30%
During a Break From
Work or School
26%
During a Commute
16%
21.0%
29.0%
25.0%
9.0%
1 - 5 6 - 14 15 - 24 +25
Connect With
Family and Friends
62.5%
Relaxation
80.0% 84.5%
Brain Stimulation
Note: (1) Percentages vary based on age range and gender
Source(s): Venture Beat, Theesa
9. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
Source(s): Newzoo, Konvoy Ventures, Company Websites
DigitalGamingIndustryOutlook
DIGITAL GAMING OVERVIEW
U.S. and China Dominate the Global Gaming Market
($ billions)
47%
23%
4%
26%
2019 Total
$152.1B
+9.6% YoY
EUROPE, MIDDLE EAST & AFRICA
$34.7
+11.5% YoY
NORTH-AMERICA
$39.6B
+11.7% YoY
LATIN AMERICA
$5.6B
+11.1% YoY
ASIA-PACIFIC
$72.2B
+7.6% YoY
CHINA TOTAL
$36.5B
U.S. TOTAL
$36.9B
48%
of all consumer spending on
gaming in 2019 came from
the U.S. and China.
$19.3 $20.4 $21.5 $22.6
$41.5 $43.0 $47.0 $51.0
$137.9
$151.9
$165.9
$180.3
2018 2019 2020 2021
Music
Films
Videogames
Global Gaming Is on the Rise With the Help of Smartphones
($ billions)
Gaming Sales Continue To Outpace Music and Movie Sales
35% 36% 38% 40% 41%
9% 9% 8% 8% 8%31% 31% 31%
31%
31%
2%
2%
2%
1%
1%
35%
36%
38%
40%
41%
2018 2019 2020 2021 2022
Smartphone Tablet Console Browser PC Boxed/Downloaded PC
$138.7
$164.6$152.1
$178.2
($ billions)
$196.0
The Top 5 Gaming Markets Are Nearing 1 Billion Combined Players
(Players in millions)
37.5
44.6
65.9
176.1
644.0
U.K.
Germany
Japan
U.S.
China
8
x
10. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
DigitalGamingUniverse(1/3)
DIGITAL GAMING OVERVIEW
Hardware Augmented & Virtual Reality Streaming and Content
Technology
Fantasy Sports and Betting
esports Betting
9
Source(s): Konvoy Ventures
x
11. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
DigitalGamingUniverse(2/3)
DIGITAL GAMING OVERVIEW
Engines
Distribution
Developers
Publishers
User Generated Content
Major Games
Game Development
Related Services
Data Analytics Peer to Peer
Sponsors and Sponsorship Services
10
Source(s): Konvoy Ventures
x
12. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
DigitalGamingUniverse(3/3)
DIGITAL GAMING OVERVIEW
Teams Leagues/Organizers Competitions
Community
Conferences and Exhibitions Events
Professional Scene
Tournament Platforms Coaching Service Providers
Merchandise
Communications and Forums News Reporting Venues
11
Source(s): Konvoy Ventures
x
13. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
$776.4
$957.5 $973.9
$1,598.2
2018 2019 2020 2023
Source(s): The Esports Observer, Newzoo, and CapitalIQ as of 6/30/2020
TheProfessionalSceneContinuestoExpandinSizeandPopularity…
DIGITAL GAMING OVERVIEW
Representative Companies
Professional esports
organization.
Game developer and
content provider
Value EV/Revenue
$400M 11.4x
$75M 30.1x
($ in thousands
esports Revenue Growth
1
2
3
Prize Pools Awarded in 1H 2020
$10.2M
$5.2M
$6.9M
12
15.5% CAGR
x
14. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
$400 $400 $320 $240 $210 $185 $175 $170 $165 $160
11.4x 13.8x
13.3x
6.9x
19.1x 20.6x
10.9x
21.3x
7.5x
16.0x
0.0x
5.0x
10.0x
15.0x
20.0x
$0
$100
$200
$300
$400
$500
Team
SoloMid
Cloud 9 Team Liquid FaZe Clan Immortals
Gaming Club
Gen.G Fnatic Envy Gaming G2 Sports 100 Thieves
…ButtheCurrentesportsModelMayBeaBubbleWaitingtoBurst
DIGITAL GAMING OVERVIEW
Teams Are Being Valued Like Tech Companies…
($ millions)
Median
EV/Revenue
Note(s): (1) TTM period is 7/31/2019 – 6/30/2020
Source(s): Twitch Tracker, Forbes, CapitalIQ, and Company Websites, Allied Esports
...But Fail to Generate Revenue and Appear Overvalued…
13
Value EV/Revenue
13.6x
x
$0.00
$1.00
$2.00
$3.00
$4.00
$5.00
$6.00
$7.00
7/1/2019 8/1/2019 9/1/2019 10/1/2019 11/1/2019 12/1/2019 1/1/2020 2/1/2020 3/1/2020 4/1/2020 5/1/2020 6/1/2020
…While the Publicly Traded esports Companies Have Seen a Dramatic Decline Over the Last Year(1)
$88.0
$69.0
$52.0
$35.0
$2.0
MLB NHL NFL NBA Esports
esports
- 64.3%
- 39.0%
-70.8%
15. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
46.9
55.8
75.7
110.4
Note: (1) Lifetime Unit Sales as of 6/30/2020; (2) Projected sales through 2024
Source(s): Company Websites, Forbes, Amphere Analysis
TheConsoleMarketisBeingDrivenbyNewHardwareandRefreshesofExistingHardware…
DIGITAL GAMING OVERVIEW
8th Generation Consoles Are Selling Strongly(1) While the 9th Generation Looks More Crowded Than Ever
Projected Sales(2)
PS5Xbox Series X
Q4 2020 Q4 2020
14
Current Generation Consoles Are Selling Strongly(1)…
(Units sold in millions)
…While the 9th Generation Consoles Are Prepping For Launch
x
Release Date
Manufacturer
Name
(Units sold in millions)
37.0 66.0
16. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
10.0+
10.0+
13.3
16.0+
10.7
12.2
18.1
18.6
20.0
22.4
26.7
Animal Crossing Sells Nearly 23M Copies In 2Q 2020
…WhileSoftwareStillPullsUsersBetweenPlatforms
DIGITAL GAMING OVERVIEW
PC Gaming Market Value Forecasts
(Units sold in millions)
Microsoft has stopped
disclosing sales numbers
for 1st party software
Mario Kart 8
Super Smash Bros. Ultimate
Mario Odyssey
Breath of the Wild
Pokémon Let’s Go
Splatoon 2
Spider-man
Horizon: Zero Dawn
Uncharted 4
God of War
Halo 5
Gears of War 5
Forza
= Sony
= Nintendo
= Microsoft
($ billions)
$26.6
$28.0
$29.6
$31.4
$33.6
2016 2017 2018 2019 2020
15
Gaming Market Value Forecasts
4.8% CAGR
Source(s): Newzoo, Company Websites
Animal Crossing: New Horizons
x
17. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
5.37
6.66
7.07
8.73
14.7
summit1g
Myth
shroud
Tfue
Ninja
56 60 77 86 95 101
120 107 105 100
126
210
3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
2017 2018 2019 2020
737 789 952 1,044 1,120 1,162 1,287 1,267 1,265 1,206 1,468 2,370
25 27
36 39 43 46
56 49 48 45
58
96
0
20
40
60
80
100
120
0
500
1,000
1,500
2,000
2,500
3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
2017 2018 2019 2020
1,618 1,740 2,037 2,279 2,444 2,563 2,776 2,767 2,794 2,661
3,210
5,175
3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
2017 2018 2019 2020
StreamingViewershipContinuestoGrow
DIGITAL GAMING OVERVIEW
Twitch Exceeds 1.2B Average Concurrent Viewers in 2018
(Hours in millions)
Top Streamers Are Gaining Millions of Followers
(Viewers and Channels in thousands)
(Followers in millions)
16
Source(s): Twitch Tracker as of 6/30/20
Twitch Sees Sharp Increase in Average Viewers and Channels2Q Shatters Previous Record of Hours Watched
Viewers Channels
Twitch Exceeds 1.2B Average Concurrent Viewers in 2018
(Hours in millions)
Hours of Content Nearly Doubles As Streamers Are Becoming More Active
x
18. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
$584.1
$163.3
$543.7
$158.0
Sponsorship Media Rights
2020 2019
Sponsorship and Media Revenues Are Adjusted Down
MainstreamBrandsContinuetoInvestinVideoGames
DIGITAL GAMING OVERVIEW
Select Endemic Sponsors
Select Non-Endemic Sponsors
($ millions)
17
Source(s): The Esports Observer, Newzoo
7.4%
YoY Growth
3.3%
YoY Growth
x
19. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
46.8x
12.6x
26.9x 26.8x
21.0x
10.3x
58.3x
27.7x 23.2x
17.4x
12.4x 9.0x
43.1x
1.0x 2.0x 3.0x 4.0x 5.0x 6.0x 7.0x 8.0x 9.0x 10.0x 11.0x 12.0x 13.0x 14.0x
5.9x 1.1x
8.6x
6.1x 4.3x 1.5x
19.1x
10.7x
3.4x 3.4x 1.3x 0.9x
14.3x
2.1x
1.0x 2.0x 3.0x 4.0x 5.0x 6.0x 7.0x 8.0x 9.0x 10.0x 11.0x 12.0x 13.0x 14.0x
SelectPublicCompanies
DIGITAL GAMING OVERVIEW
Median EV/Revenue
Median: 3.9x
Game Development – Mobile Games
Game Development – Developer/Publisher
Technology - Hardware
Technology – Streaming/Content
Median EV/EBITDA
Median: 23.2x
Game Development – Mobile Games
Game Development – Developer/Publisher
Technology - Hardware
Technology – Streaming/Content
18
NM
Source(s):CapitalIQ as of 6/30/20; Note: “NM” only applies to multiples less than zero.
x
20. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
7.3x
5.4x 5.2x
3.9x
3.6x 3.4x
2.8x
2.0x
1.7x
0.8x
Candywriter Saber Interactive Funcom The Sims Resource Eko Software Storm8 UMG Media The TrailerFarm Snowed In Studios roccat
Source(s): CapitalIQ as of 6/30/20, Company Websites
SelectPrecedentTransactions
DIGITAL GAMING OVERVIEW
EV/Revenue
Median: 3.5x
Target:
Acquirer:
19
x
21. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
II. The Forbes M+A Overview
20
22. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
TheForbesM+AGroup
THE FORBES M+A OVERVIEW
Senior-level
attention and
transaction
leadership
Focused,
dedicated
transaction
teams
Vertical and
industry
focused
expertise
Unbiased,
trusted
advisory
services
Quality of
service and
execution over
quantity
Track record
of successful
outcomes
✓ Founded in 2004 with offices located in Denver, Colorado & Salt Lake
City, Utah
✓ Transaction sizes ranging from $10M — $200M
✓ Nationwide clientele with global market reach
✓ Nationwide clientele with global market reach
✓ Swarm transactions with senior advisors, with more than $85B and
250 years of combined experience
Rocky Mountain West boutique investment banking advisory firm focused on closely held companies with strong growth stories
and market dominant products or services.
Focused on Excellence in Execution…
Middle
Market
Leader
21
23. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
TheForbesM+ATransactionTeam
THE FORBES M+A OVERVIEW
Head of Digital
Gaming Group
303.872.6445
JJ.Lane@ForbesMA.com
Industry leading veterans that possess a
depth and breadth of experience across
both M&A and private industry as founders,
operators, advisors, and executives.
JJ Lane
Bob Forbes
President
Bill Nack
Partner / Managing
Director
Dan Pellegrino
Partner / Managing
Director
Jon Wiley
Partner / Managing
Director
Garit Lawson
Managing Director
Steve Quisenberry
Managing Director
James Morgan
Managing Director
Doug Freyschlag
Director
Blake Shear
Director
JJ Lane
Vice President
Cassie Dobos
Associate
Bryce Dietz
Analyst
Jarred Olson
Analyst
Liam Narozanick
Analyst
John Kiernan
Analyst
22
24. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
23
SoftwareasaService(“SaaS”)IndustryReport
TheForbesM+AGroupAdvantage
THE FORBES M+A OVERVIEW
EVERY DETAIL COUNTS.™
In managing the ownership transition of a closely-held company, the old adage that
“the devil is in the details” is widely underestimated.
At THE FORBES M+A GROUP, we are hyper vigilant about details – not only based on
the merits of the phrase above but because, as our tagline reveals, we recognize the
“deals” are also in those details. The best deals. The ones that offer the most
strategic and financial value to all of the key stakeholders involved in the transaction.
We fully grasp and
internalize clients’
goals.
We understand clients’
businesses exhaustively
and tell their stories
meticulously.
We design a
comprehensive
blueprint of each
client’s best future.
We find ideal targets,
not just the easy ones,
and compel them to
compete.
We advocate fiercely
for our clients,
creating extraordinary
outcomes.
25. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
24
SoftwareasaService(“SaaS”)IndustryReport
WhatClientsandAdvisorsSay
THE FORBES M+A OVERVIEW
“Their industry knowledge, relationships
with buyers, extensive transaction
experience, and adaptive and creative
deal making were essential in achieving
an outcome that met our goals.”
~ Tres Coors, CEO of Novelty Lights
“Their guidance was invaluable
as we reviewed offers and
negotiated a deal structure that
was exactly what we needed.”
~ Doug Larson, President at
Eldorado Artesian Springs
“Forbes is like a bulldog with a
rag in its mouth. If there is a deal
that serves the interests of their
client, those guys don’t let go
until it crosses the finish line.”
~ Bob Roth, Partner at Kutak Rock
“They exceeded every expectation
by taking the time to understand
our objectives, delivering the best
possible partner and terms.”
~ Christine Crane, CEO of BoldLeads
“We wanted to entrust the
business to an advisor with
similar core values and high-
quality standards.”
~ Tom Tolkacz, CEO of Swingle
“PASCO selected The Forbes M+A
Group amongst competing advisory
firms because of their reputation for
identifying excellent strategic
partners.”
~ Ryan Zeiger, CEO of PASCO
“From identifying the perfect
buyer, to maximizing our value,
and ultimately continuing our
legacy, the Forbes M+A team was
there from start to finish.”
~ Stephanie White, CEO of Top Gun
“The Forbes M+A Group was
recommended to us as a
company that would truly partner
with us to achieve our goals.”
~ Mike Franklin, President of
TouchSource
26. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
SoftwareasaService(“SaaS”)IndustryReport
TrustedbytheWorld’sTopFinancialInstitutions
THE FORBES M+A OVERVIEW
Forbes has developed strategic partnerships with some of the largest financial institutions in the world with its
strong reputation for servicing the middle market.
25
27. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
Click to edit Master title style
CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
26
2020
28. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
III. Appendix
27
29. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
Date Target Buyer / Investor(s) Target Description Target Category Transaction Type
Implied EV
($ in millions) EV / Revenue EV / EBITDA
Jun-20 Peak Games Zynga Peak Games develops multiplayer mobile games in Turkey and the
Middle East and North Africa (MENA) region.
Mobile Games Merger/Acquisition $1,934.0 na na
Jun-20 Ready At Dawn Studios Facebook Technologies Ready At Dawn Studios develops video games. Game Development Merger/Acquisition na na na
Jun-20 Gaming licenses of Majesco
Entertainment Company
Ziggurat Interactive Gaming licenses of Majesco Entertainment Company including
BloodRayne.
Game Development Merger/Acquisition na na na
Jun-20 LetsGoRacing Torque Esports LetsGoRacing comprises a YouTube channel that broadcasts
motorsport and esports racing content.
Community Merger/Acquisition $1.6 na na
Apr-20 PierPlay Scopely PierPlay engaged in development of mobile video games. Game Development Merger/Acquisition na na na
Apr-20 3DO games catalog of Prism
Entertainment
Ziggurat Interactive 3DO games catalog of Prism Entertainment comprises game
licenses.
Game Development Merger/Acquisition na na na
Apr-20 Candywriter Stillfront Group Candywriter develops and publishes mobile games. Game Development Merger/Acquisition $204.0 7.3x 12.7x
Feb-20 DriverDB Torque Esports DriverDB AB provides data to racing drivers and general motorsport
industry.
Community Merger/Acquisition $0.8 na na
Apr-20 Hypixel Studios Riot Games Hypixel Studios designs and develops computer games. Game Development Merger/Acquisition na na na
Apr-20 Moneyweek Torque Esports Moneyweek operates an online motor sports community for
motorsport enthusiasts, industry influencers, and Formula 1 teams,
as well as former drivers.
Community Merger/Acquisition $0.5 na na
Mar-20 MTD Gaming Ainsworth Game Technology MTD Gaming develops and supplies computer games. Game Development Merger/Acquisition $26.0 na na
Feb-20 Saber Interactive Embracer Group Saber Interactive develops online interactive games in the United
States.
Game Development Merger/Acquisition $596.2 5.4x 9.2x
Feb-20 Kolibri Games Ubisoft Entertainment Kolibri Games operates as a mobile games company. Mobile Games Merger/Acquisition na na na
Jan-20 Phoenix Labs Garena Online Private Phoenix Labs develops games for personal computers. Game Development Merger/Acquisition na na na
Jan-20 Streamlabs Logitech International Streamlabs develops Streamlabs application that provides in-stream
popup alerts.
Community Merger/Acquisition $130.3 na na
SoftwareasaService(“SaaS”)IndustryReport
SelectDigitalGamingM&ATransactions(1/2)
VALUATION SUPPORT
28
Source(s):CapitalIQ as of 6/30/20
x
30. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
Date Target Buyer / Investor(s) Target Description Target Category Transaction Type
Implied EV
($ in millions) EV / Revenue EV / EBITDA
Jan-20 Streamlabs Logitech International Streamlabs develops Streamlabs application that provides in-stream
popup alerts.
Community Merger/Acquisition $130.3 na na
Jan-20 Funcom Tencent Cloud Europe Funcom develops and publishes massively multiplayer online games
for PCs and consoles worldwide.
Game Development Merger/Acquisition $1,223.5 5.2x 11.3x
Jan-20 FoxNext Games Scopely FoxNext develops virtual and augmented reality, mobile,
console/personal computer games, and location-based
entertainment for studio's film and television operations.
Game Development Merger/Acquisition na na na
Jan-20 Storm8 Stillfront Group Storm8 develops social mobile games for the iPhone, iPod Touch,
and Android devices.
Mobile Games Merger/Acquisition $403.9 3.4x 6.6x
Dec-19 Typhoon Studios Google Typhoon Studios is an independent game developer. Game Development Merger/Acquisition na na na
Dec-19 Scuf Gaming International Corsair Components Scuf Gaming International manufactures and markets video game
controllers for gamers.
Hardware Merger/Acquisition na na na
Nov-19 UMG Media Torque Esports UMG Media operates as an esports company in North America. Professional Scene Merger/Acquisition $4.8 2.8x na
Oct-19 Fullcube ReKTGlobal Fullcube develops a platform for subscription management. Community Merger/Acquisition $4.2 na na
Aug-19 Insomniac Games Sony Interactive Entertainment Insomniac Games develops various games for PlayStations. Game Development Merger/Acquisition $229.0 na na
Jun-19 Greenlit Content ReKTGlobal Greenlit Content provides web development and content creation
services for video gaming industry.
Community Merger/Acquisition na na na
Jun-19 Infinite Esports & Entertainment Immortals Infinite Esports & Entertainment owns and operates an esports
organization and provides a gaming platform, which creates a roster
of online game players and competes in online championship
Community Merger/Acquisition $100.0 na na
Mar-19 Mellanox Technologies NVIDIA Mellanox Technologies, a fabless semiconductor company, designs,
manufactures, markets, and sells interconnect products and
solutions.
Hardware Merger/Acquisition $6,401.0 6.3x 28.7x
Mar-19 ROCCAT TBC Holding Company ROCCAT manufactures computer components and accessories. Hardware Merger/Acquisition $18.9 0.8x na
Jan-19 The Sims Resource Enthusiast Gaming Properties The Sims Resource comprises female video gaming content. Community Merger/Acquisition $20.6 3.9x 5.2x
Median $50.0 3.0x 10.6x
Mean $690.4 3.2x 12.0x
SoftwareasaService(“SaaS”)IndustryReport
SelectDigitalGamingM&ATransactions(2/2)
VALUATION SUPPORT
29
Source(s):CapitalIQ as of 6/30/20
x
31. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
Stock % of Equity
Price 52 Week Market Enterprise EV / Revenue EV / EBITDA
Company 6/30/2020 High Cap Value LTM LTM
Game Development - Publisher/Developer
Microsoft Corporation (NasdaqGS:MSFT) $197.88 91% $1,543,306 $1,489,689 10.7x 23.2x
Tencent Holdings Limited (SEHK:700) $62.99 11% $609,684 $622,940 11.0x 30.9x
Sony Corporation (TSE:6758) $68.64 1% $83,575 $98,288 1.3x 9.0x
Activision Blizzard, Inc. (NasdaqGS:ATVI) $75.69 92% $58,480 $55,175 8.6x 26.8x
Nintendo Co., Ltd. (TSE:7974) $446.74 1% $53,052 $41,767 3.4x 12.4x
Electronic Arts Inc. (NasdaqGS:EA) $132.61 94% $38,125 $33,610 6.1x 21.0x
Take-Two Interactive Software, Inc. (Nasdaq:TTWO) $138.37 89% $15,127 $13,303 4.3x 26.9x
BANDAI NAMCO Holdings Inc. (TSE:7832) $53.12 1% $11,548 $9,837 1.5x 10.3x
Ubisoft Entertainment SA (ENXTPA:UBI) $78.53 97% $10,080 $10,475 6.0x 106.2x
Square Enix Holdings Co., Ltd. (TSE:9684) $51.39 1% $6,020 $4,876 2.0x 13.1x
Capcom Co., Ltd. (TSE:9697) $36.59 1% $3,882 $3,346 4.4x 14.1x
Mean 44% $221,171 $216,664 5.4x 26.7x
Median 11% $38,125 $33,610 4.4x 21.0x
SoftwareasaService(“SaaS”)IndustryReport
PubliclyTradedCompanies(1/3)
VALUATION SUPPORT
$ millions, except per share data
30
Source(s):CapitalIQ as of 6/30/20; Note: “NM” only applies to multiples less than zero.
Stock % of Equity
Price 52 Week Market Enterprise EV / Revenue EV / EBITDA
Company 6/30/2020 High Cap Value LTM LTM
Game Development - Mobile Games
Zynga Inc. (NasdaqGS:ZNGA) $9.56 91% $9,125 $8,582 5.9x 46.8x
Glu Mobile Inc. (NasdaqGS:GLUU) $9.21 85% $1,544 $1,470 3.5x 274.5x
Rovio Entertainment Oyj (HLSE:ROVIO) $6.27 91% $460 $331 1.1x 12.6x
Mean 88.8% $3,710 $3,461 3.5x 111.3x
Median 90.6% $1,544 $1,470 3.5x 46.8x
x
32. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
SoftwareasaService(“SaaS”)IndustryReport
PubliclyTradedCompanies(2/3)
VALUATION SUPPORT
$ millions, except per share data
31
Source(s):CapitalIQ as of 6/30/20; Note: “NM” only applies to multiples less than zero.
x
Stock % of Equity
Price 52 Week Market Enterprise EV / Revenue EV / EBITDA
Company 6/30/2020 High Cap Value LTM LTM
Professional Scene
Torque Esports Corp. (TSXV:GAME) $0.55 9% $60 $75 NM NM
Allied Esports Entertainment Inc. (NasdaqCM:AESE) $2.09 33% $60 $69 2.7x NM
Super League Gaming, Inc. (NasdaqCM:SLGG) $2.40 30% $25 $20 18.8x NM
Gfinity plc (AIM:GFIN) $0.02 49% $18 $15 1.7x NM
Mean 30% $41 $45 7.7x NM
Median 31% $42 $45 2.7x NM
Stock % of Equity
Price 52 Week Market Enterprise EV / Revenue EV / EBITDA
Company 6/30/2020 High Cap Value LTM LTM
Technology - Hardware
Microsoft Corporation (NasdaqGS:MSFT) $197.88 91% $1,543,306 $1,489,689 10.4x 22.7x
Alphabet Inc. (NasdaqGS:GOOG.L) $1,396.88 88% $966,497 $866,072 5.2x 17.9x
NVIDIA Corporation (NasdaqGS:NVDA) $372.56 86% $233,696 $224,920 19.1x 58.3x
Sony Corporation (TSE:6758) $68.64 1% $83,575 $98,288 1.3x 9.0x
Advanced Micro Devices, Inc. (Nasdaq:AMD) $51.16 83% $61,616 $60,930 8.4x 60.1x
Nintendo Co., Ltd. (TSE:7974) $446.74 1% $53,052 $41,766 3.4x 12.4x
Seagate Technology plc (NasdaqGS:STX) $47.99 75% $12,423 $14,977 1.4x 8.6x
Logitech International S.A. (SWX:LOGN) $64.41 91% $10,961 $10,264 3.3x 24.8x
Plantronics, Inc. (NYSE:PLT) $14.58 34% $563 $2,017 1.2x 14.0x
Razer Inc. (SEHK:1337) $0.20 11% $1,678 $1,159 1.4x NM
Turtle Beach Corporation (NasdaqGM:HEAR) $14.85 78% $215 $208 0.9x 17.4x
Mean 58% $269,780 $255,481 5.1x 24.5x
Median 78% $53,052 $41,766 3.3x 17.7x
33. CONFIDENTIAL
D i g i t a l G a m i n g U p d a t e – S u m m e r 2 0 2 0
SoftwareasaService(“SaaS”)IndustryReport
PubliclyTradedCompanies(3/3)
VALUATION SUPPORT
32
$ millions, except per share data
Source(s):CapitalIQ as of 6/30/20; Note: “NM” only applies to multiples less than zero.
x
Stock % of Equity
Price 52 Week Market Enterprise EV / Revenue EV / EBITDA
Company 6/30/2020 High Cap Value LTM LTM
Technology - Streaming & Content
Sea Limited (NYSE:SE) $109.08 84% $50,722 $49,714 19.6x NM
Bilibili Inc. (NasdaqGS:BILI) $45.30 88% $16,093 $15,586 14.3x NM
HUYA Inc. (NYSE:HUYA) $18.99 67% $4,098 $2,655 2.1x 43.1x
Mean 80% $23,638 $22,652 12.0x 43.1x
Median 84% $16,093 $15,586 14.3x 43.1x
Aggregate Metrics
Mean 55% $171,333 $164,754 6.0x 36.6x
Median 77% $11,986 $11,889 3.5x 21.0x