GamesBeat Summit 2024: Finding a niche, getting noticed and thriving during a market downturn

The second day of GamesBeat 2024 brought together panelists from every corner of the gaming industry to talk about what it takes for developers to succeed — and thrive — in an ever-evolving gaming market. It’s been particularly tough last year and at the start of 2024, said David Stelzer, president of Xsolla, pointing to the roughly 80% drop in investment and the number of jobs left. But building and sustaining a viable games business is still possible, with creative funding strategies, streamlining resources and launching strong.

“When I look at this thing, especially with the perspective of 25 or 30 years in the business, I see this as the games industry taking a breath,” said Ron Scott, GM of Xsolla Backend and SVP business development at Xsolla. “Once the first person gets to the point of wanting to cut back a bit, trim some of the excess, see some things on their balance sheet they want taken care of, you get that reorganization. Other people follow suit and cut back. But what it’s really doing is giving these companies a little breathing room to make it through what might be a tough market condition for a year or so, but also to establish a solid base so when the growth does come back and the economy opens up and that new avenue for growth hits the industry, you’re ready to start hiring right away.”