Over the last few years, venture investor interest in the game industry has skyrocketed. The industry is no longer just about video games; as cross-media experiences like Fortnite have shown, game developers are embracing multiple forms of entertainment at once.
Game technologies like the Unreal Engine that power these experiences are supplementing traditional film, television and enterprise production tools, seeing extensive use in high-profile, high-budget shows like Disney’s The Mandalorian.
A common investment thesis among VC and PE funds interested in the space is that there are opportunities for enabling game technologies that resemble other enterprise software solutions, like Autodesk.
However, video games as an industry has not produced a publicly traded tech product whose profit opportunity is seat-based software licensing. Rather, Unity, Epic, and others who provide tools (such as Amazon and Microsoft) have shown that game technology businesses drive services, platforms, and content which offer the potential