Gamescom 2025 in Cologne once again set records – with more than 1,500 exhibitors, 335,000 expected visitors, and the entire city transforming into a gaming carnival. On the surface, it was a celebration of blockbusters and pop culture.
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But beneath the spectacle, a different Gamescom unfolded: the business-focused side where publishers, developers, and investors confronted the toughest questions in gaming today – especially around mobile, where funding pressures and monetization strategies dominated many of the conversations.
The hard talk about investment made one thing clear: money is still out there, but not for copycats. To secure funding, studios must show they are bringing something truly new to the table.
The Spectacle: A Global Gaming Carnival
From Call of Duty: Black Ops 7 to Resident Evil: Requiem, Lego Batman: Legacy of the Dark Knight, and World of Warcraft: Midnight, the show delivered headline reveals. Ghost of Yōtei highlighted Japan’s enduring creative power, while Black Myth: Zhong Kui proved China’s arrival as a true AAA force, following the global success of Wukong last year.
Anime-inspired aesthetics dominated the show floor, from countless “Genshin-like” RPGs to the surprise One Piece Lego crossover, buoyed by the Netflix adaptation’s global success. These trends spilt into conversations around mobile as well, where the lines between console-quality experiences and mobile-first titles are blurring more than ever – sparking renewed debate about how ambitious games can scale profitably on handheld devices.
Meanwhile, a live performance from Clair Obscur: Expedition 33 reminded the industry that bold innovation is also coming from Europe.
Even hardware made noise: Microsoft’s ROG Ali Xbox, with its streamlined Windows 11 OS, impressed with fluid Forza gameplay and positioned itself as a challenger to Steam. And outside the halls, Cologne itself became part of the show, with billboards, side events, and even my own journey – a 12-hour convoy from the UK as part of the Wizards Rally, which also supported the UK industry charity GamesAid.
The Business: Where the Hard Talk Happens
Away from the crowds, Gamescom’s trade visitor areas told a more sobering story. Venture capital has tightened, especially for mobile studios. The era of easy funding is over, and developers are being forced to bake monetization and user acquisition into their designs from the very start. Investors are demanding innovation, not imitation – the days when “another candy crush-like” could raise capital are gone.
- Monetization and UA together: creativity alone doesn’t sustain a studio.
- Sustainable models: subscriptions, in-game advertising, and transparent IAPs are becoming critical.
- Regulation ahead: Europe is setting stricter rules around fairness and “dark patterns” – changes that will reward those who focus on trust and loyalty.
Europe’s Dilemma
While Asia often dominates the conversation, Europe showed at Gamescom that it is not standing still. Clair Obscur: Expedition 33 from France was one of the cultural highlights of the year. Yet, despite its creative strength, Europe still struggles with fragmented markets, inconsistent regulation, and a weaker funding environment compared to the US and Asia.
Opportunity Amid Pressure
Gamescom 2025 was both a celebration and a reality check. On one side: blockbuster premieres, anime crossovers, and a city transformed. On the other hand, investors are pulling back, studios are wrestling with monetization, and Europe is still searching for its competitive edge.
For mobile studios, the message is clear: the future belongs to those who combine creative ambition with sustainable business strategies – not only entertaining millions but also building the loyal, monetized communities that ensure survival.
About Adam Smart
Adam is the Director of Product Gaming at AppsFlyer. You can reach out to him via LinkedIn.