Newzoo says PC gaming revenue could overtake console by 2028

Newzoo thinks PC is on track to bring in more gaming revenue than consoles by 2028, based on projections in its latest report. The firm is forecasting PC revenue growth at a 6.6% compound annual growth rate from 2025 to 2028, compared to 4.4% for console.

In the same report, Newzoo pegs the combined PC and console market at $103.7 billion by 2028. It says those segments grew 7% year-over-year in 2025 to $88.3 billion, with a forecast of $94.3 billion in 2026.

Part of Newzoo’s PC argument is that premium games are doing a lot of the lifting. It says premium titles made up 29% of PC revenue and were the main growth driver, with an 11.8% increase across AAA, AA, and indie releases. Newzoo also points to players spreading their time around more games, with engagement outside the top 20 titles rising from 33% in 2022 to 42% in 2025.

On the player side, Newzoo expects the PC audience to top one billion by 2028, driven by regional growth, especially in East Asia. Newzoo’s Ben Porter also noted Japan is “discovering Steam” more than it used to, and pointed out that spending per paying user varies a lot across the region.

Console, meanwhile, still leans heavily on big premium releases and hardware sales, according to Newzoo. Premium titles accounted for about half of console revenue in 2025, and games priced above $50 made up nearly 80% of premium revenue. Newzoo also says microtransaction revenue dipped slightly, while subscriptions grew modestly, which it attributes mostly to price increases and tier upgrades.

Across both PC and console, Newzoo lists Roblox as the most-played franchise last year by playtime growth (up 52%), followed by Fortnite and Call of Duty.