Circana: 2025 Video Game Content Spending Reaches $52.3B
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 22 2026
0mins
Circana analyst Mat Piscatella said that December video game content spending grew 3% in the U.S. when compared to a year ago, to $5.9B. Spending on subscription services increased by 24% when compared to a year ago, while the PC, cloud and non-console VR content segment gained 6%. 2025 annual video game content spending grew 1% compared to 2024, reaching $52.3B. 20% growth in spending on subscription services and a 1% increase in mobile offset declines across other content segments. Activision's (MSFT) "Call of Duty: Black Ops 7" was December's best-selling game across physical & tracked digital spending. 2025 marked the seventh consecutive year a "Call of Duty" game has been December's best seller. EA's (EA) "Battlefield 6" finished as 2025's best-selling video game in tracked full game dollar sales. "Battlefield 6" ranked 1st on both Xbox and the aggregated PC storefronts for the year while placing 2nd on PlayStation (SONY) behind only Take-Two's (TTWO) "NBA 2K26." Epic Games' "Fortnite" led in total active users across both PlayStation and Xbox platforms during 2025, according to Circana's Player Engagement Tracker, with over half of all active users on the two ecosystems engaging with Fortnite at least once. Roblox (RBLX) was 2025's leading publisher in digital at retail spending for both December and the 2025 year. Digital at retail spending on Roblox during 2025 increased by 16% compared to 2024. Other top-selling premium games in the U.S. in December were EA's "Madden NFL 26" and "EA Sports FC 26," Nintendo's (NTDOY) "Pokemon Legends: Z-A," and "Metroid Prime 4: Beyond." Investors in Epic Games include Tencent (TCEHY), KKR (KKR), Disney (DIS), and Sony.
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Analyst Views on MSFT
Wall Street analysts forecast MSFT stock price to rise
34 Analyst Rating
32 Buy
2 Hold
0 Sell
Strong Buy
Current: 426.990
Low
500.00
Averages
631.36
High
678.00
Current: 426.990
Low
500.00
Averages
631.36
High
678.00
About MSFT
Microsoft Corporation is a technology company. The Company develops and supports software, services, devices, and solutions. The Company’s segments include Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment consists of products and services in its portfolio of productivity, communication, and information services. This segment primarily comprises: Office Commercial, Office Consumer, LinkedIn, and Dynamics business solutions. The Intelligent Cloud segment consists of server products and cloud services, including Azure and other cloud services, SQL Server, Windows Server, Visual Studio, System Center, and related Client Access Licenses (CALs), and Nuance and GitHub; and Enterprise Services, including enterprise support services, industry solutions and Nuance professional services. The More Personal Computing segment primarily comprises Windows, Devices, Gaming, and search and news advertising.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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