Console Games

Explore the console game industry—where cutting-edge technology and imaginative storytelling merge to create immersive gaming experiences.

Leading the way in future entertainment

The console game industry is catching the eye of both consumers and investors. Advances in console technology, increasing demand for immersive graphics, and expanding gaming audiences drive the industry’s growth. And even if the economy gets tough, the console game industry shows resilience and long-term potential.

Why it matters:

The promising future of the console game industry brings abundant, lucrative opportunities for startups:

  • AR and VR solutions
  • Cross-platform play
  • Subscription services
  • Digital distributions

Between the lines:

To achieve success, console game startups need to address such challenges as steep costs of game development, intense competition, and tech problems. Plus, they need to find relevant financial support.

We’ve assisted multiple console game startups and know how to build successful businesses that grab investors’ attention

$2B+
In capital raised
600+
Companies promoted
80+
Markets analyzed

What we do:

We streamline fundraising, handle M&A transactions, and conduct robust go-to-market strategies and compelling pitch decks.

Go deeper:

Check our console game market research to know more about the current situation in the market and what it takes to attract funding.

1.6x growth
The console game market is projected to reach $62.1 billion by 2032.

 

3.26B
Over 3 billion gamers are worldwide.

Driven by tech innovation, the rise of esports, and the demand for immersive gaming experience
1/5

Gamers own or have access to a gaming console.

28%

Of gaming revenue accounted for the console game segment in 2022.

500M

Is the expected esports audience by 2024.

VENTURE LANDSCAPE

In 2022, console game funding reached $4.26 billion

Key verticals:

  • Game development
  • Tech and hardware
  • Marketing and advertising
  • R&D

Leading console game investors

Write to us to know more

Console game startup challenges

Overcoming the following obstacles is halfway to startup success.

High development costs:

The prices for developing a new console game are rising. Using new tech, hiring good developers, and making more complex games are getting more expensive.

Why it matters

Be ready to have deep pockets; otherwise, you may struggle to:

  • Compete with established players
  • Release new games
  • Secure additional funding
  • Maintain game quality

What it takes:

Addressing high development costs requires console gaming startups to:

  • Start with smaller-scale projects
  • Participate in incubator programs
  • Focus on digital distribution

Market saturation:

The console game market is highly saturated. Top dogs like Sony, Nintendo, and Microsoft dominate the scene. And the number of newcomers is rising every year.

Why it matters

To stand out, startups need to apply much effort, or their creations will go unnoticed among gamers. Plus, it may result in lower sales and profits and problems funding future projects.

What it takes:

To outrun competitors, console game startups should:

  • Develop innovative and unique games
  • Invest in strong marketing campaigns
  • Leverage social media and streaming platforms to ensure brand visibility
  • Build a loyal community
  • Network with influencers and content creators

Tech issues:

Meeting tech requirements and standards set by console manufacturers is a must for console games. Plus, they need to run smoothly across all console versions.

Why it matters:

The inability to meet these standards can cause:

  • Game crashes
  • Bugs
  • Poor user experience

What it takes:

Console game startups should focus on:

  • Quality testing throughout the whole development process
  • Onboarding expert developers
  • Enrolling in console developers’ programs to get support and tools

Lack of funding:

High entry barriers, intense competition, high-risk industry… It all may decrease investor interest.

Why it matters:

Startups that fail to secure necessary funding have problems with:

  • Developing and marketing their games
  • Releasing their games on time
  • Startup’s viability

What it takes:

A successful fundraising game includes:

  • Devising a robust business model and financial plan
  • Creating an incredible console game pitch deck
  • Building an expert team
  • Developing a game prototype to show the game’s potential to investors
  • Targeting the right VCs
  • Forging ties with established players

FAQs

How attractive is the industry to potential gaming investors?

The console game industry is highly appealing to potential investors. Its strong and growing market, economic resilience, high margins, and diversified revenue channels attract VCs.

If you are a console game startup, how easy is it to raise funding today?

Raising console game venture capital is no walk in the park nowadays. But it’s more because of the current economic situation rather than a lack of interest. This industry is shining bright on investors’ radar, being promising and profitable.

How long does it take to create a pitch deck and financial model for a console game startup?

Our team usually needs two to three weeks to finish all the documentation. However, sometimes the time frames may stretch up to one month in case our experts have a lot on their plates, or the project is challenging.

What are the key mistakes console game startups make in their pitch decks?

Most console game pitch decks miss a consistent investment narrative. Plus, a weak go-to-market strategy, an unstable monetization model, and a vague funding request… All these issues leave investors in the dark, unable to find answers to their pivotal questions. Eventually, it makes them turn toward more compelling and promising projects.

How competitive is the console game market?

The console game market is increasingly competitive, with a few major players like Sony and Nintendo dominating the scene. Plus, the number of newcomers entering the market is constantly growing.

What services do you provide for investors looking to invest or already investing in console games?

We assist investment funds in carrying out comprehensive due diligence of promising console game projects to help decide whether the opportunity is worth investing in. We also provide end-to-end fundraising support to the partner fund’s portfolio companies.

Do you provide console game M&A support?

Yes, we do! Our team assists with console game M&A by scouting for promising opportunities, evaluating them for potential success, and facilitating smooth partnerships that continue well after the deal is closed.

Do you make intros to console game VCs?

Absolutely! If your startup project aligns with certain criteria like round size, team expertise, and product quality, we can assist you in connecting with console game VCs. This service is integrated into our extensive investor relations package, which encompasses creating a pipeline of investors keen on console games, preparing startups for introductory meetings with them, and facilitating communication post-deal.

Do you have data or research available to purchase on the console game market?

Sure thing! Our expert team offers customized market insights into the console game industry. We aim to give you a competitive edge by ensuring deep industry reports, evaluations of competitors, and wide-ranging market research. Using data from trusted sources, we help you fully understand the console game landscape with its challenges, opportunities, and competitive dynamics.

Which growth stage of companies have you worked with in the past?

We not only assist startups through the Seed to Series B funding stages but also ensure help during pre-seed and Series C+ funding rounds, coordinating interaction with the big players and investment funds.

Looking to get into the console game industry? Reach out, and let's talk!

Whether you're looking for fundraising support, outsourced M&A advisory, growth strategy consulting, and presentation design, Waveup is your one-stop shop for that and more. Leave your email, and let's discuss your project!

Have a project in mind?

Leave your information below and one of our experts will be in touch to schedule a call.

Your name:
*Your email:
*You need help with:
Your project is:
Your current stage:
*Your maximum budget:
How did you find us?

Form submitted successfully.

Unlock in-depth insights with our comprehensive industry report!

Unrivaled coverage

Dive deep into industry research with unparalleled depth and breadth

Data-backed decisions

Equip yourself with the analysis and forecasts essential for strategic planning

Pathway to future-proof insights

Understand today’s trends and anticipate tomorrow’s shifts to ensure your business stays ahead

What you get

  • Industry benchmarks: Compare vital financial ratios to gauge business risks effectively
  • Opportunity & threat analysis: Identify and navigate the challenges and prospects inherent in the industry
  • Holistic risk assessment: View the industry from every angle, eliminating blind spots and enhancing strategic decisions
  • Geographic insights: Explore business concentration and global trade nuances to spot unique opportunities
  • Industry competitors & barriers: Recognize key players and understand the challenges new entrants face
  • Credible data presentation: Showcase industry statistics, pain points, and success factors to establish your authority
  • Actionable insights: Transform extensive research into concise, actionable insights for a comprehensive market view
  • Five-year forecasts: Visualize the industry’s growth trajectory and stay prepared for the future