Pixel P&L: India's Gaming Future, AC Shadows Reviews, and a Forgotten Atari Supplier

Today’s Pixel P&L dissects two reports revealed at the Game Developers Conference 2025—one examining India’s gaming landscape and another analyzing modern PC gamers. We also cover Assassin’s Creed Shadows' positive critical reception, the curious tale of a video game store that’s been supplying parts for Atari consoles despite the company’s bankruptcy over four decades ago, and more.

/ India's Non-RMG Gaming Market Valued at $529 Million

India's non-real money gaming (non-RMG) sector remains a modest $529.1 million slice of the country's $3.7 billion online gaming industry, a new report by WinZO Games and IEIC revealed. While India's overall gaming market is projected to reach $9.1 billion by 2029, real money gaming dominates with an 85.7% revenue share.

The report highlights that non-RMG segments, including casual, social, and mid-core gaming are expected to grow faster than RMG, increasing their market share to 20% by 2029. Currently, India's gaming ecosystem boasts 591 million gamers, 1,888 gaming companies, and has attracted $2.8 billion in FDI, largely funneled into RMG platforms.

Despite its smaller footprint, India's non-RMG space offers opportunities for game developers focusing on diverse genres and monetization models. As the country’s digital economy expands, this segment is poised to capture greater investor interest in the coming years.

PC Gamers Stick to Old Favorites, Newzoo Data Shows

PC gamers are increasingly spending their time on older titles, with 67% of total play hours in 2024 dedicated to games that are six or more years old, according to Newzoo (via PCGamer). Ben Porter, director of consulting at Newzoo, will share the data at Game Developers Conference (GDC) 2025, highlighting that PC gaming continues to expand, with the player base projected to grow from 873.5 million in 2023 to 907.5 million in 2024, far outpacing the estimated 653.1 million console players.

The report highlights that 7.1% of all PC gaming hours in 2024 were spent on Counter-Strike 2 (including CS:GO), with League of Legends (6.4%), Roblox (6.2%), Dota 2 (5.8%), and Fortnite (5.4%) following closely behind. A further 25% of total PC playtime went to titles that are two to five years old, while only 8% of gaming hours were spent on newer releases. The findings underscore the dominance of established live service games in the PC ecosystem.

🧐 On Our Radar

Is Assassin’s Creed Shadows going to rescue Ubisoft?

Ubisoft’s Assassin’s Creed Shadows is off to a promising start, earning a solid 81 on Metacritic and 83% on OpenCritic. The strong reviews appear to have spurred sales, with the game jumping from ninth to second on Steam’s best-seller charts within hours of the embargo lifting.

The positive reception comes at a critical moment for Ubisoft, which endured a difficult stretch last year. Four consecutive releases including Avatar: Frontiers of Pandora, XDefiant, Skull & Bones, and Star Wars: Outlaws failed to meet sales expectations between December 2023 and August 2024. The disappointing results contributed to a ~40% decline in Ubisoft’s stock, attracting attention from an activist investor.

Can this initial momentum translate into sustained sales, or is this merely a fleeting moment of optimism before another letdown? For Ubisoft’s future and investors' confidence, the next few weeks will be pivotal.

⭐Pixel P&L Recommends

📺 Watch: Half-Life 2 at 20, a Valve documentary on its creation and legacy.

🎮 Play: Enter the Gungeon — Guns, chaos, and roguelite mayhem.

🎧 Listen: Neil Druckmann (Creator of Uncharted 4) and Alex Garland (Director of 28 Days Later, Civil War) explore storytelling styles across video games and film.

📖 Read: Balatro's creator chronicles how they built 2024’s biggest indie success.

🛒 Buy: DIY Terrarium Kit. A living ecosystem in a jar that thrives on its own is one of the coolest things you can have on your work/gaming desk.

💡 Did You Know?

Plants vs. Zombies originally featured a zombie inspired by Michael Jackson's iconic Thriller look. The design was intended as a tribute when the game launched in May 2009. However, Jackson unexpectedly passed away just a few months later. Following his death, Jackson’s estate objected to the likeness, prompting PopCap to replace the character with a disco dancer in subsequent updates.

📜 Quote of the Day

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