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Newzoo released its Market Trends report for the games industry in 2024, in which it predicts changes in the industry for the coming year. It predicts that trends like live service games and subscription models will cool off and see lower growth than in the past few years.
After the chaos of 2023, Newzoo believes the industry will stabilize and become leaner. Companies will employ risk reduction strategies by focusing on sequels and leveraging existing IPs instead of funding massive new projects. This lean approach aims to bring stability to the industry.
Two major trends predicted to drop off in 2024 are live-service games and subscription platform growth. Newzoo suggests that indie game companies have shown less eagerness to sell licenses, and games companies will become more reluctant to release their games on subscription platforms on launch day.
The report also points to future opportunities, such as the release of a new Nintendo console and a new 3D Mario game. It predicts Xbox will launch a store on Android to expand to mobile and mentions the adoption of generative AI in game creation.
Despite these changes, the report is not all caution and gloom. Newzoo remains optimistic about the future and believes that the gaming industry will continue to evolve and adapt.
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