10+ Best & Profitable Game Business Ideas [2023]

Are you looking for a profitable game business to start in 2023? Check out our top 10+ best game business ideas and start making money from your passion for gaming. From mobile app development to game streaming, discover the future of gaming with our comprehensive guide.
Nick

By Nick Cotter
Updated Feb 07, 2024

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Hey there, future game entrepreneur! Welcome to 2023, a year that's bursting at the seams with potential for those daring enough to dive into the exciting world of game business. Now, we know what you're thinking: "Is it really possible to turn my passion for games into a profitable venture?" Spoiler alert: The answer is a resounding YES!

Whether you're a seasoned businessperson looking for a new venture, or a gaming enthusiast dreaming of turning your passion into a paycheck, this is the article for you. We're about to embark on a thrilling journey through the 10+ best and most profitable game business ideas for 2023. So, buckle up and get ready to level up your entrepreneurial game.

As we explore these ideas, we'll not only inspire you but also educate you on how to transform your love for games into a thriving business. Sounds exciting, right? Let's get started and unlock the hidden treasures of the gaming industry together!

Mobile Game Development

Mobile game development is the process of creating video games specifically for mobile devices such as smartphones and tablets. With the rise of mobile device usage and the growing popularity of mobile games, mobile game development has become a lucrative business idea for many aspiring entrepreneurs.

Why is mobile game development a good business idea?

  • High demand: With millions of people turning to their smartphones and tablets for entertainment, the demand for mobile games is constantly growing. This means that there is a large market for mobile game developers to tap into.
  • Low barriers to entry: Unlike traditional video game development, which requires expensive equipment and software, mobile game development can be done with minimal resources. This makes it easier for aspiring developers to get started and create their own games.
  • Ad-based revenue model: Many mobile games rely on advertisements for revenue. This means that even small mobile game developers can generate revenue without the need for in-app purchases or subscriptions.
  • In-app purchase revenue model: Some developers chose the "freemium" model, which means they give the game away for free but charge for added features or game currency. This business model has proven to be successful for many mobile game developers who have made millions in revenue.
  • Opportunity for creativity: Mobile game development allows developers to be creative and innovative with their game concepts. This can lead to unique and original games that stand out in the crowded mobile game marketplace.
image of a Mobile Game Development

Esports Tournament Planning

Welcome to the world of Esports - where virtual competition is just as exciting as traditional sports! If you are an entrepreneur looking for a new business idea, you might want to consider organizing an Esports tournament. This can be a lucrative venture, given the ever-increasing popularity of Esports. Here's why:

  • Esports tournaments are events where players compete against each other in video games for prizes, glory, and bragging rights.
  • Developing and organizing an Esports tournament involves several aspects such as planning, coordinating, promoting, and managing.
  • The planning phase involves determining the type of tournament, the game(s) to be played, the venue, the dates, the rules, the format, and the prize pool.
  • The coordinating phase involves recruiting players, teams, judges, commentators, and sponsors. It also involves setting up the tournament environment, including the hardware, software, network, and security.
  • The promoting phase involves marketing and advertising the tournament through social media, websites, forums, and influencers. It also involves selling tickets, merchandise, and broadcasting rights.
  • The managing phase involves running the tournament smoothly, ensuring fairness, resolving disputes, and providing a good experience for the participants and the audience.

Now, as to why organizing an Esports tournament is a good business idea:

  • The global Esports market is projected to reach $1.08 billion in revenue in 2022, according to Newzoo.
  • The Esports audience is estimated to reach 495 million people worldwide in 2020, according to Statista.
  • Esports tournaments can generate revenue from various sources, including ticket sales, merchandise sales, sponsorships, advertising, and broadcasting rights. The tournament organizer can keep a percentage of the revenue as profit.
  • Esports tournaments can attract passionate players, fans, and sponsors who are willing to spend money on the games they love. Players can win significant cash prizes, while fans can enjoy the spectacle and camaraderie of the event.
  • Esports tournaments can also enhance the reputation and brand value of the tournament organizer, especially if the tournament is well-executed and memorable. The organizer can use this exposure to attract more players, fans, and sponsors for future tournaments.

In summary, organizing an Esports tournament can be an exciting and profitable business idea, provided you have the passion, expertise, and resources to make it happen. With the right planning, coordination, promotion, and management, you could turn Esports into your own game-winning venture!

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Examples of successful businesses:

One key aspect of the game business industry is the presence of successful companies that have built long-lasting careers in the business. The following list contains some of the most successful companies in the game business industry:

  • Activision Blizzard
  • Electronic Arts
  • Take-Two Interactive
  • Ubisoft Entertainment
  • Sony Computer Entertainment America
  • Nintendo of America
  • Microsoft Studios
  • Konami Digital Entertainment Inc.
  • .

Virtual Reality Game Design

Virtual reality game design involves creating and developing immersive video games that are designed to be played in a virtual reality environment. Here are some reasons why virtual reality game design could be a good business idea:

  • High demand - With the increasing popularity of virtual reality technology, there is a growing demand for virtual reality games and experiences.
  • Creative expression - Virtual reality game design allows for a high degree of creative expression, with opportunities to design unique and visually stunning game environments.
  • Immersive experiences - Virtual reality games provide players with immersive experiences that traditional video games cannot match.
  • Profitability - Virtual reality games can be sold at a premium price point, providing opportunities for profitability and growth.
  • Low overhead costs - Starting a virtual reality game design business can be relatively low-cost, with minimal equipment and infrastructure required.

Overall, virtual reality game design can be a rewarding and potentially lucrative business idea for those with the necessary skills and expertise in game design and virtual reality technology.

Collectible Game Item Merchandising

Collectible game item merchandising is essentially the business of selling merchandise based on popular games. This includes figurines, posters, clothing, and other products that feature characters or items from games that people love. This business idea has taken off in recent years as the rise of video games and other digital media has generated a huge audience of fans who are eager to show their love for their favorite games in tangible ways.

  • Collectible game item merchandising offers several advantages as a business idea:
  • Large and growing market: The global video game industry is worth over $150 billion and is growing rapidly. This means that there is a huge and growing audience of potential customers for collectible game item merchandise.
  • Popularity of games: Many of the most popular games in the world have highly loyal fan bases who are eager to buy merchandise related to their favorite games. This means that there is a built-in audience for these products that can be easily marketed to.
  • High margin potential: Collectible items often have a high profit margin, meaning that businesses selling these products can make a substantial profit from each sale.
  • Diverse product range: There are many types of collectible game items that can be sold, from figurines and clothing to posters and accessories. This means that businesses can offer a diverse range of products that attract a wider range of customers.
  • Unique product offerings: Many collectible game item products are highly sought-after and rare, meaning that businesses can offer unique or hard-to-find products that attract dedicated collectors and fans.

Video Game Streaming Services

Video game streaming services have revolutionized the way people access and play their favorite games. These services allow gamers to play their games without having to download them, making it more convenient and efficient.

If you're considering starting a business, video game streaming service is a great idea. Here are some reasons why these services could be a profitable and successful business venture:

  • High demand: The video game industry is one of the most profitable industries in the world with millions of players worldwide. People love to play games, and with video game streaming services, it becomes easier and more accessible for them.
  • Cost-effective: Creating a video game streaming service is cost-effective compared to creating a console or a game from scratch. With a video game streaming service, you can focus on creating the platform, without spending an exorbitant amount of money on developing a game or hardware.
  • Recurring revenue: By offering subscriptions to your video game streaming service, you can create a steady stream of revenue, which is recurring every month. This allows you to forecast your income and expenses, making it easier to manage and grow your business.
  • Global outreach: The internet has made it possible for people from all over the world to connect and share their interests. By creating a video game streaming service, you can attract gamers from all over the world, and provide them with a platform to connect and play together.
  • Flexible business model: Video game streaming services can be customized to fit different business models. You can choose to offer a subscription-based service, a pay-per-play model, or even offer in-game purchases. This flexibility allows you to create a business model that works best for you and your customer base.

If you're passionate about video games and technology, starting a video game streaming service could be a great business idea. With an increasing demand for online gaming and digital content consumption, this market has a lot of potential for growth and profitability.

Related business ideas:

Educational Game Software Development

Educational game software development has become increasingly popular in recent years. It involves the creation of digital games or applications that are designed to teach users various skills or subjects. These games are typically interactive and engaging, making them a great option for students of all ages. But why would this make a good business idea? Let's explore.

  • High demand: With remote learning becoming more prevalent, the demand for educational game software has skyrocketed. This presents a great opportunity for entrepreneurs to create products that meet this demand.
  • Improved learning outcomes: Educational games can be more effective than traditional teaching methods. By making learning fun and interactive, students are more likely to remember the information they learn.
  • Versatility: Educational games can be created for a variety of subjects and skill levels. This means that entrepreneurs can create products that cater to specific niches or audiences.
  • Innovative technology: Game development requires cutting-edge technology, making it a great field for entrepreneurs who want to be at the forefront of innovation.
  • Scalability: Educational game software has the potential to reach a wide audience. Once a product has been developed, it can be marketed to schools, homeschool groups, and individual consumers all over the world.

In conclusion, educational game software development is a great business idea for those who are passionate about creating innovative products that can have a positive impact on people's lives. With a high demand, the ability to improve learning outcomes, and the versatility to target specific niches, this industry has plenty of potential for growth.

Online Game Subscription Services

Online game subscription services are a relatively new business model that is gaining popularity in the gaming industry. But, what exactly are they and why are they making such big waves? Let's explore this topic further.

  • Online game subscription services are services that allow users to play games for a fee.
  • These services typically offer a wide variety of games for users to choose from.
  • Users can pay either a monthly or yearly fee to access these games.
  • Examples of popular online game subscription services include Xbox Game Pass, PlayStation Now, and Google Stadia.
  • Online game subscription services provide a number of benefits for both the gaming industry and consumers.

So, why are online game subscription services such a good business idea?

  • Online game subscription services provide a recurring revenue stream for game developers and publishers.
  • These services offer an additional revenue source for game developers and publishers beyond just selling games.
  • Online game subscription services can increase the longevity of games by encouraging people to continue playing them.
  • These services also help to reduce the financial barrier to entry for gamers. Rather than having to pay full price for games upfront, gamers can access a large library of games for a smaller ongoing fee.
  • Online game subscription services can also provide a good way for gamers to discover new games that they may not have otherwise tried. This can help to boost sales and revenue for new games that aren't as well-known.

All in all, online game subscription services are a great business idea for game developers and publishers, as well as for gamers. By offering a wide variety of games for a smaller ongoing fee, these services can provide a reliable revenue stream for developers and publishers, while also reducing the financial barrier to entry for gamers and encouraging them to continue playing games.

Board Game Publishing

Are you a fan of board games? Do you enjoy strategizing and competing with family and friends? Well, have you ever considered board game publishing as a business idea?

  • Board game publishing is the process of creating and distributing board games for public consumption.
  • There has been a significant surge in the popularity of board games in recent years.
  • Board games provide a tangible and social experience that cannot be replaced by digital games.
  • People are willing to spend money on board games as they are seen as a valuable investment for quality time with loved ones.
  • Board game publishers have the potential to create a loyal fanbase and sustained revenue through expansions and new releases.
  • In addition, board games have a longer average lifespan than digital games, meaning profits can be generated over a longer period of time.
  • Furthermore, there is a diverse market for board games, ranging from children's games to adult strategy games.
  • Board game publishing also presents the opportunity for creativity and artistic expression through game design and artwork.
  • Lastly, the growth of online marketplaces such as Amazon has made it easier to distribute and sell board games worldwide.

Overall, board game publishing is an exciting and potentially lucrative business idea for those who have a passion for gaming, creativity, and entrepreneurship.

Video Game Detail Enhancement Services

Video game details can make or break the player experience. These details can range from subtle textures on a character's clothes to intricate lighting and shading effects that create a completely immersive world. That's where video game detail enhancement services come in. These businesses specialize in taking existing video game assets and improving them to create a more realistic and visually stunning experience for the player. But why would this make a good business idea? Let's take a closer look.

  • Video games are a multimillion-dollar industry, with players constantly seeking out new experiences.
  • Players are willing to pay for details that enhance their experience and make the game more enjoyable.
  • Games with enhanced details stand out and receive recognition, leading to increased sales and industry attention.
  • With advancements in technology, the potential for enhancing video game details is endless.
  • Detail enhancement services can cater to a niche market and offer specialized services, setting them apart from competitors.

In summary, video game detail enhancement services cater to a growing industry and offer specialized services that can set them apart from competitors. With players constantly seeking out new experiences and willing to pay for enhanced details, this can be a lucrative business idea. As technology continues to advance, the potential for enhancing video game details is endless, making this an exciting and ever-changing industry to be a part of.

Mobile Game Monetization Services

Mobile gaming is a booming industry, with millions of players across the globe. As a result, businesses are always on the lookout for ways to monetize their games and generate more revenue.

This is where mobile game monetization services come in. These services specialize in helping game developers make money from their games through various methods. Here are some of the ways that a mobile game monetization service can help:

  • Advertising: Monetization services can help incorporate ads into games, allowing developers to make money from ad revenue.
  • In-app purchases: These services can offer ways for players to buy virtual goods within the game, which can be a significant source of revenue for developers.
  • Subscription models: Some monetization services offer subscription models for games, where players pay a monthly fee for access to exclusive content or features.
  • Analytics: Many monetization services provide analytics to help developers understand how players are interacting with their games, which can help them make informed decisions about monetization strategies.
  • User acquisition: Some monetization services also offer user acquisition strategies to help developers attract more players to their games.

Overall, a mobile game monetization service can be a great business idea because it can help game developers maximize their revenue potential. With so many players around the world, there is always a demand for great mobile games, and monetization services can help developers capitalize on this demand.

Nick

Founder and CEO

I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.