We knew beforehand that 2020 would be a transitional year for the $120bn video games business. Major platform manufacturers like Sony and Microsoft are gearing up to release their new consoles, and a string of new competitors, including Amazon, Google, and Facebook have been aggressively investing in cloud gaming. What we didn’t know in advance was how the shift to digital gaming would accelerate as a result of a health crisis and economic collapse. In this presentation we’ll review the current state of the games business in its newfound role as a ’safe haven’ for investors, the new drivers of change, and how this is expected to alter the industry’s landscape in the years to come.

(BMO/1 CPE/I)