Gaming stocks represent a diverse collection of companies involved in game development, hardware manufacturing, mobile app creation, and more. Recently, select gaming stocks have made significant inroads into international markets, transforming into gaming giants.
In the past, gaming stocks were mostly dominant in the United States, China, Japan, and South Korea. However, recent research indicates a rapid growth in gaming within emerging markets such as the Philippines, Indonesia, Turkey, and Mexico, among others.
Nintendo (NTDOY, NTDOF)
Last year brought much speculation about Nintendo (OTCMKTS: NTDOY, OTCMKTS: NTDOF) with rumors of a possible virtual reality headset and a potential Microsoft acquisition. While most of these projects remain unconfirmed, two developments are poised to propel Nintendo to greater heights. One of the industry’s foremost giants, Nintendo continues to loom large.
First off, Nintendo’s Super Mario Bros. Movie posted record sales, surpassing $1.3 billion annually. This success has led to plans for a Legend of Zelda movie, tapping into the vast intellectual property reservoir held by Nintendo. Additionally, rumors swirl about a potential follow-up to the immensely popular Nintendo Switch platform, which could significantly bolster the company’s international standing if launched in 2024.
Meta Platforms (META)
In 2024, Meta Platforms (NASDAQ: META) is expected to make substantial strides in the virtual reality gaming market. The company’s Quest 3 VR headset is gaining ground, with three out of the top four spots secured on Steam. Moreover, Meta’s Facebook instant game offerings have been increasingly popular among hypercasual gamers in emerging markets, setting up a lucrative monetization ecosystem.
Netflix (NFLX)
While primarily known for its diverse streaming video titles, Netflix (NASDAQ: NFLX) is venturing further into gaming, having tested cloud-based mobile games in Canada and the UK. Netflix’s strategic aim to target international markets could position the company as a top gaming giant in 2024, especially if it successfully integrates gaming and live sports into its streaming platform.
Jeremy Flint holds no positions in the securities mentioned. The expressed opinions in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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