Top 10 gaming companies in the world by revenue in 2026, ranked from their own filings

Tencent is the largest gaming company in the world, with RMB 241.6 billion (about USD 33.6 billion) of games revenue in 2025. Sony, Microsoft, Nintendo and NetEase complete the top five by reported revenue, although the three console makers include hardware in their figures. Measured on game software alone, Tencent's lead is wider still. This guide ranks the ten largest gaming companies on their own filings and explains what each number does and does not include.

How we ranked the top gaming companies

Every figure below comes from the company's own annual report, results release or regulatory filing, for its latest full financial year. Companies report in different currencies and different years, so we converted to US dollars at the Federal Reserve's 2025 average rates of 7.1875 yuan, 149.57 yen and 1,421.4 won to the dollar. Where a company reports bookings (the value of sales made in the period) rather than revenue, we use bookings, because that is how publishers such as EA, Take-Two and Roblox describe their business. The ranking is by size of games business, not by market share: the Video Game Software Market report sizes total consumer spending on game software at USD 199.8 billion in 2025, and by our analysis the five largest companies together take about 45% of it.

The 10 largest gaming companies in the world by revenue

Rank	Company	HQ	Latest reported games revenue	In USD	What it includes
1	Tencent	Shenzhen, China	RMB 241.6B (2025)	about USD 33.6B	Games only
2	Sony Interactive Entertainment	San Mateo, US / Tokyo	JPY 4,685.7B (FY to Mar 2026)	about USD 31.3B	Includes PS5 hardware
3	Microsoft Gaming (Xbox)	Redmond, US	USD 21.79B (FY to Jun 2026)	USD 21.8B	Includes Xbox hardware
4	Nintendo	Kyoto, Japan	JPY 2,313.0B (FY to Mar 2026)	about USD 15.5B	Company net sales, includes Switch 2 hardware
5	NetEase	Hangzhou, China	RMB 92.1B (2025)	about USD 12.8B	Games and related services
6	Electronic Arts	Redwood City, US	USD 8.03B net bookings (FY to Mar 2026)	USD 8.0B	Games only
7	Roblox	San Mateo, US	USD 6.8B bookings (2025)	USD 6.8B	Games only
8	Take-Two Interactive	New York, US	USD 6.72B net bookings (FY to Mar 2026)	USD 6.7B	Games only
9	Nexon	Tokyo, Japan	JPY 475B (2025)	about USD 3.2B	Games only
10	KRAFTON	Seoul, South Korea	KRW 3.33T (2025)	about USD 2.3B	Games only

Two cautions apply. Sony's figure is its whole Game and Network Services segment, and Nintendo's is total company net sales, so both include console hardware in a year when Nintendo sold 19.86 million Switch 2 consoles. Microsoft's XBOX revenue also includes hardware. On game content alone, Sony sold JPY 2.415 trillion (about USD 16.1 billion) of digital software and add-on content in its year to March 2026, so the gap between Tencent and everyone else is larger than the headline table suggests.

1. Tencent: the biggest games company on any measure

Tencent's 2025 annual results show domestic games revenue of RMB 164.2 billion, up 18%, and international games revenue of RMB 77.4 billion, up 33%. The Shenzhen group earns from Honour of Kings, Peacekeeper Elite and Delta Force at home, and abroad from VALORANT through Riot Games and from Supercell's mobile strategy games. It also holds a 26.32% economic interest in Ubisoft's Vantage Studios, closed in November 2025, and a minority stake in Epic Games. Growth continued in 2026: second-quarter domestic games revenue rose 17% to RMB 47.3 billion. For Portuguese-speaking readers asking "qual a maior empresa de jogos do mundo", the answer is Tencent.

2. Sony Interactive Entertainment: the largest console ecosystem

Sony's Game and Network Services segment had sales of JPY 4,685.7 billion in the year to March 2026, up 0.3%, and operating income rose 11.7% to JPY 463.3 billion, according to Sony Group results filed with the SEC. The PlayStation Store is the engine: digital software and add-on content sales reached JPY 2.415 trillion in the same year, and the store also earns on games from third-party publishers such as EA and Take-Two. PlayStation Plus adds a subscription layer at USD 10.99 to 19.99 a month.

3. Microsoft Gaming: the biggest publisher by portfolio

After buying Activision Blizzard, Microsoft owns Call of Duty, World of Warcraft, Candy Crush through King, and Bethesda's franchises. Its fiscal 2026 annual report shows XBOX revenue down 7% to USD 21.79 billion, with content and services down 5% and hardware down 29%. Microsoft now publishes many of its games on PlayStation and Switch, and on 21 April 2026 it cut Game Pass Ultimate to USD 22.99 a month. So its games reach more platforms, while its own Xbox hardware shrinks.

4. Nintendo: the Switch 2 surge

Nintendo's net sales rose 98.6% to JPY 2,313.0 billion in the year to March 2026 as it sold 19.86 million Switch 2 consoles and 48.71 million Switch 2 games, according to its full-year results material. Its software business is moving online quickly: digital sales rose 90.0% to JPY 132.7 billion in the April to June 2026 quarter, 61.5% of software sales.

5. NetEase: China's second-largest games company

NetEase earned RMB 92.1 billion from games and related services in 2025, up 10%, per its 2025 results filed with the SEC. Role-playing franchises such as Fantasy Westward Journey carry the business, joined by Where Winds Meet and Marvel Rivals. Games revenue rose 9.7% to RMB 25.0 billion in the second quarter of 2026.

6 to 10: EA, Roblox, Take-Two, Nexon and KRAFTON

Electronic Arts posted record net bookings of USD 8,026 million in fiscal 2026, and on 4 August 2026 completed its take-private by PIF, Silver Lake and Affinity Partners, valued at about USD 55 billion, so EA no longer files public results. Roblox grew bookings 55% to USD 6.8 billion in 2025, with more than 144 million daily users in the fourth quarter, making it the fastest-growing company on this list. Take-Two, owner of Rockstar Games, 2K and Zynga, reported fiscal 2026 net bookings of USD 6.72 billion, up 19%, and guides to USD 8.0 to 8.2 billion for fiscal 2027 with Grand Theft Auto VI due on 19 November 2026; it could climb the ranking in 2027. Nexon earned JPY 475 billion in 2025 from MapleStory, Dungeon&Fighter and ARC Raiders, and KRAFTON reported KRW 3.3266 trillion of revenue, driven by PUBG on PC and mobile.

Big names just outside the top 10

Ubisoft reported EUR 1,525.1 million of net bookings in its year to March 2026 (about USD 1.7 billion), and Capcom JPY 195.4 billion of net sales (about USD 1.3 billion) after selling a record 59.07 million units. Two of the most influential companies do not publish revenue at all. Valve, which runs Steam, is private; its Steam Year in Review 2025 reports 42 million peak concurrent users and says non-Valve games received 76% of revenue on average. Epic Games, maker of Fortnite and the Epic Games Store, is also private. Older lists often still show Activision Blizzard and Zynga, but they now belong to Microsoft and Take-Two.

What the ranking tells you about gaming

The top of the list is decided by mobile gaming and live services. Mobile games earn 54% of consumer spending on game software, by our analysis, which is why Tencent and NetEase outrank most Western publishers. Asia Pacific holds 45.5% of spending, North America 28.0% and Europe 18.5%, and Latin America is the fastest-growing region at a 7.3% CAGR. The console makers' ranking depends on hardware cycles, as Nintendo's jump shows, while newer platforms such as cloud gaming and VR are growing fastest from a small base. Ownership is shifting too: EA has gone private and Tencent has taken a 26.32% economic interest in Ubisoft's Vantage Studios. For the full company table, market shares, platform and genre splits and forecasts to 2034, see the video game software market analysis, which projects the market to reach USD 317.0 billion by 2034 at a 5.3% CAGR.

Frequently asked questions

What is the biggest gaming company in the world?

Tencent. It reported RMB 241.6 billion of games revenue in 2025, about USD 33.6 billion at the 2025 average exchange rate, more than any other company, and its lead is wider on game software alone because Sony and Microsoft include console hardware.

Qual a maior empresa de jogos do mundo?

A Tencent, da China, e a maior empresa de jogos do mundo em receita: RMB 241,6 bilhoes em 2025, cerca de USD 33,6 bilhoes. Sony, Microsoft, Nintendo e NetEase completam as cinco maiores.

What are the top 5 gaming companies in the world by revenue?

On their latest filings: Tencent (about USD 33.6 billion), Sony Interactive Entertainment (about USD 31.3 billion including hardware), Microsoft Gaming (USD 21.8 billion including hardware), Nintendo (about USD 15.5 billion) and NetEase (about USD 12.8 billion).

How much of the gaming market do the largest companies control?

By Growth Market Reports' analysis, Tencent, Sony, Microsoft, NetEase and Electronic Arts together take about 45% of the USD 199.8 billion that consumers spent on video game software in 2025. The rest is spread across hundreds of publishers.

Is Electronic Arts still a public company?

No. PIF, Silver Lake and Affinity Partners completed the take-private of Electronic Arts on 4 August 2026, in a deal valued at about USD 55 billion that was first announced on 29 September 2025.

Sources

1. Tencent Holdings (PR Newswire), "Tencent Announces 2025 Annual and Fourth Quarter Results", 2026-03-18
2. Tencent Holdings (PR Newswire), "Tencent Announces 2026 Second Quarter Results", 2026-08-12
3. Sony Group (SEC Form 6-K), "Consolidated financial results for the fiscal year ended March 31, 2026", 2026-05-08
4. Sony Group (SEC Form 20-F), "Annual report for the fiscal year ended March 31, 2026", 2026-06
5. PlayStation, "PlayStation Plus plans and prices (US)", 2026
6. Microsoft (SEC Form 10-K), "Annual report for the fiscal year ended June 30, 2026", 2026-07-29
7. Xbox Wire, "Xbox Game Pass Ultimate Price Update", 2026-04-21
8. Nintendo, "Financial Results Explanatory Material, Fiscal Year Ended March 2026", 2026-05-08
9. Nintendo, "Financial Results Explanatory Material, First Quarter of the Fiscal Year Ending March 2027", 2026-08-06
10. NetEase (SEC Form 6-K Ex. 99.1), "NetEase Announces Fourth Quarter and Fiscal Year 2025 Unaudited Financial Results", 2026-02-11
11. NetEase (SEC Form 6-K Ex. 99.1), "NetEase Announces Second Quarter and Interim 2026 Unaudited Financial Results", 2026-08-20
12. Electronic Arts (SEC 8-K Ex. 99.1), "EA Reports Fourth Quarter and Fiscal Year 2026 Results", 2026-05-05
13. Electronic Arts, "EA Announces Completion of Acquisition by PIF, Silver Lake, and Affinity Partners", 2026-08-04
14. Roblox (SEC annual report to shareholders), "Roblox Corporation 2025 Annual Report", 2026-04
15. Take-Two Interactive, "Take-Two Interactive Software, Inc. Reports Results for Fourth Quarter and Fiscal Year 2026", 2026-05-21
16. Rockstar Games, "Grand Theft Auto VI is Now Set to Launch November 19, 2026", 2025-11-06
17. Nexon (Business Wire), "Nexon Releases Earnings for Fourth Quarter and Full-Year 2025", 2026-02-12
18. KRAFTON, "KRAFTON Records Annual Revenue of KRW 3.3266 Trillion in 2025", 2026-02-09
19. Ubisoft (GlobeNewswire), "Ubisoft Reports Full-Year 2025-26 Earnings Figures", 2026-05-20
20. Capcom, "Capcom Sets Record in All Profit Categories for Ninth Consecutive Year in Consolidated Earnings for the Year Ended March 2026", 2026-05-13
21. Valve (Steamworks Development), "Steam Year In Review 2025", 2026-03-06
22. Ubisoft, "Ubisoft announces the completion of Tencent's strategic investment in Vantage Studios", 2025-11-21
23. Federal Reserve, "G.5A Foreign Exchange Rates (Annual), 2025", 2026-01-05

Related

• Video Game Software Market Size, Share and Forecast
• Video Game Software Market to Reach USD 317.0 Billion by 2034 as GTA VI Launches and EA Goes Private