Has the Market Share of M-Rated Games Changed Over the Past Decade?

The gaming industry is known for its fast-paced nature, with a constant focus on what's next, often leaving little time to reflect on the past. However, looking back can provide valuable insights into the industry's history. In this monthly feature, we highlight significant events in gaming from exactly a decade ago. A decade ago, the industry saw a surge in M-rated games, with these titles accounting for a smaller percentage of overall releases but generating a significant portion of revenue. In 2011, only about 9% of games were rated M, yet they represented nearly 27% of US revenues. The Entertainment Software Association stopped reporting market share by rating after 2011, possibly due to the uncertainty surrounding the growth of M-rated games. The industry was under scrutiny from politicians, and even a Supreme Court decision affirming free speech protections for games did not shield them from being used as a diversion from gun control. With the success of M-rated franchises like Call of Duty and Grand Theft Auto, as well as the growth of other ratings, we wondered how the numbers would look today. Fortunately, Circana provided us with the M-rating market share for physical sales over the past five years, albeit with some limitations. The data showed that the market share of M-rated titles has fluctuated, with a peak of 35.1% in 2018 and a decline to 22.1% in 2022. While the numbers may not be comprehensive, they offer a glimpse into the industry's evolution. The gaming industry has become more diverse, with a wide range of successful titles across various platforms, audiences, and monetization models. The M-rated segment is no longer the face of the industry but rather one aspect of a broader, thriving market.