Y’all need Wagner to save you.

Hope you wake up with your pigtails being pulled. 

You gonna be woken up at night from someone climbing into you bed and you gonna turn around and open your eyes … Ryuu gonna be looking back at you so I’ll gladly take my pigtails being pulled over that horror. 

Alright, I'm out. 

This is why Smeags wanted Empire closed... smdh

On topic: I like Xbox. 

Could be worse though...

All the threads and posts which were deleted and this one still remains

Legendary thread, it's unstoppable, it'll stay on VGChartz until the end.

My highlights from the EC (European Commission) decision (256 pages).

This is PART 1, I'll try to have the rest during the weekend.

MS expects to reach (part) of the famous 3 billion consumers by 2030 (page 9)

Gaming is a highly dynamic industry, and the fastest growing portion of the media and entertainment sector. It is larger than pay-TV, home video (including streaming), cinema, music, books or newspapers & magazines. Today, 3 billion consumers around the world play games, a number that the Notifying Party expects to reach [REDACTED] by 2030. Gamers are able to access and play thousands of highly differentiated games on a variety of devices, including PCs, gaming consoles, and mobile devices.

Originally, it looks like MS thought about releasing xCloud through white-label services (page 11, footnote 18 about white-label services)

Prior to the launch of cloud game streaming, Microsoft considered the possibility of [business secrets concerning business strategy]. This would entail [business secrets concerning Microsoft XCloud strategy]. Microsoft has had preliminary discussions with [business secrets concerning business strategy]. Microsoft offers publishers the option to appear as channels within Game Pass (e.g., EA Play). Further investment would be required in order for Microsoft to be able to offer white-label services to third parties from a technical perspective.

MS is still selling Xbox at a loss (page 13, footnote 24)

From this viewpoint, singling out the sale of console hardware as a standalone activity is not meaningful for the purpose of the present Decision. In this regard, the Notifying Party submitted that "Microsoft's Xbox console is sold at a loss, and to the best of the Parties' knowledge this is the case for other consoles as well. This is because all console vendors expect to recoup (at least some) of this loss from the sale of games and services to the new console owner." As the Transaction at hand does not concern such products, the Commission does not assess the market for the supply of gaming hardware alone, and potential vertical relationships connected to it.

The EC didn't consider cloud gaming a relevant element to asses the market of developing and publishing games (page 15, footnote 41)

The Commission notes that video games can also be distributed via cloud game streaming. However, the Commission does not consider cloud game streaming as a relevant element for the assessment of the market for the development and publishing of video games. This is because cloud game streaming does not provide a different content from what is available for download. In principle, as regards PC and console games, all games available for download can also be played via cloud game streaming without the relevant game developer having to adapt it. As regards the Xbox console, for example, Microsoft explains that [business secrets concerning game development].

The EC concluded that mobile does not belong to the same market as developing and publishing for PC/console; there was no further segmentation by console and PC (pages 17 - 18)

In light of the above, for the purposes of this Decision, the Commission concludes that the development and publishing of mobile games does not belong to the same product market as the development and publishing of PC and console games, respectively.

Moreover, the Commission concludes that the product market definition can be left open with regard to a segmentation based on platform between PC and console, as the outcome of the analysis will be the same regardless of whether the Commission considers an overall market for game development and publishing of PC and console games, or potential separate markets for the development of (i) PC; and (ii) console games, respectively.

The EC's findings indicated that when gamers start playing a newly released game, they spend less time playing other games of the same genre; therefore substitution across genres is uncommon and a segmentation by video game genre is appropriate (pages 18 - 19)

During the Phase II market investigation, the Commission has investigated whether the market for the development and publishing of video games should be segmented by genre and whether such segments constitute separate product markets or should be considered part of one differentiated product market.

In Annex 44 of the Article 6(1)(C) Response, the Notifying Party argues that (i) there is no agreed-upon classification of games into genres in the gaming industry; (ii) most gamers play games in multiple genres; (iii) gamers' playing choices change over time; (iv) when gamers start playing a new game, they decrease game time across games of all genres; and (v) gamers' tastes are heterogeneous. Taken together, according to the Notifying Party, these findings show that there are no clear boundaries between genres and that gamers are likely to substitute between games within and across genres.

The majority of the arguments brought forward in Annex 44 of the Article 6(1)(C) Response are based on the Notifying Party's analysis of "telemetry" data that tracks the game time on Xbox devices of a sample of almost […] gamers.

The Commission considers that the Notifying Party's analysis of the telemetry data that is presented in Annex 44, has several shortcomings. Most importantly, the Notifying Party's submission that when gamers start playing a new game, they spend less time playing other games across all genres, indicating substitution within and across genres, does not hold up under further examination. First, the evidence provided by the Parties is presented in purely visual form. It is therefore difficult to assess whether the Parties' claim actually holds in quantitative terms. Second, new game titles are released on Xbox very frequently, making it difficult to distinguish the impact of one release from another when they are released in close proximity.

(70) The Commission provides an alternative examination of the telemetry data using a more robust methodology that addressees these concerns. Specifically, the Commission uses a so-called 'difference-in-differences' methodology that compares the change in game time between gamers who did and who did not play the newly released title. This approach allows to estimate the causal effect of the new release on game time, while controlling for any other factors that may have affected the outcome. Contrary to the Notifying Party's submissions, the Commission's findings indicate that when gamers start playing a newly released game, they mostly spend less time playing other games of the same genre. That is, substitution mostly takes place within genres while substitution across genres is substantially less frequent. This indicates that at least a segmentation of the market for game development and publishing by genre would be appropriate.

The EC concluded that the relevant product market is the one for the development and publishing of PC and console games, but game development and publishing is highly differentiated by genres; however, the EC left open the possibility of further segmentation by 7 genres due to the nuances of the market (pages 19 - 20)

In its Phase I market investigation, the Commission asked market participants to list the main video games (i.e., the top five particularly representative or popular titles) that belong to each of the following genres: (i) action and adventure; (ii) shooter/battle royale; (iii) role-playing games; (iv) sports (including racing and flying, respectively); (v) fighting; and (vi) strategy. The Commission also asked market participants to indicate a given title under all genres that apply, should they consider that the title belonged to more than one genre.

The replies to those questions confirmed that battle royale is part of the shooter genre and that racing is a genre separate from sports. In its Phase II Market Investigation, the Commission therefore listed seven genres, giving the top 5 games for each genre as listed by market participants in Phase I as an example. It asked market participants whether they considered it appropriate to distinguish between such genres, both for console63, and for PC games.

The answers of market participants to the Phase II market investigation are nuanced. While some market participants submit that they do not consider a segmentation by genre meaningful, for each of the seven genres a clear majority of the respondents which expressed a view indicated it to be appropriate to distinguish the respective genre from the others. Only a few respondents suggested in their answers that certain games should be allocated to other genres or that other games should be mentioned as representative for the suggested genres.

Moreover, the respondents indicated in their answers that most often games within the suggested genres compete with each other, whereas games across genres compete less often. However, based on the replies to the market investigation, a degree of across-genre competition still exists.

Overall, the replies of the market participants indicated that the level of substitution between one genre and another significantly depends on the specific genres examined. The genres "action & adventure" and "role-playing" are considered significantly more substitutable between each other than, for example, "action & adventure" with "sports" or "fighting". Games in the "shooter" genre are considered to a slightly lower degree substitutable with games in the "action & adventure" genre compared to the degree of substitution between "action & adventure" and "roleplaying", but significantly less so with "sports", "fighting" or "strategy" games. Overall, "action & adventure" and "role-playing" games seem to be close substitutes, as occurs with "sports" and "racing" games, whereas "fighting" and "strategy" games each have no other genre that is considered substitutable by a significant number of respondents.

The Commission received mixed evidence also on the feasibility of switching genres for developers. On these topics, the Commission received similar replies for console games and PC games.

Based on the results of the market investigation, the Commission considers that the market for game development and publishing is highly differentiated on the basis of game genres. In this regard, genres constitute an important distinguishing factor between video games that affects to a certain degree the level of competition between them. However, there exists some uncertainty as to whether such differentiation allows to conclude that all or certain game genres form separate product markets from other genres.

In light of this, for the purposes of this Decision, the Commission concludes that the relevant product market is the market for the development and publishing of PC and console video games. The Commission considers that it can be left open whether this market should be further segmented based on game genres, in particular based on the following genres: (i) action and adventure; (ii) shooter (including battle royale); (iii) role-playing games; (iv) sports; (v) racing; (vi) fighting, and (vii) strategy, as this would not change the outcome of the competitive assessment in this case.

The EC concluded that segmentation based on type of game (AAA or non-AAA) could be left open (page 21)

The results of the Phase I market investigation were inconclusive regarding a possible segmentation of the video game publishing product market by type of video game (AAA games vs. non-AAA games).

From the supply-side, the majority of market participants that expressed a view submitted that game developers focusing on AAA can easily switch to developing a non-AAA game in a short period of time and with minimal costs, while the opposite is not necessarily the case.

However, market participants were not entirely aligned on this point. For example, one market participant stated that also switching from developing AAA to developing non-AAA games can be challenging, even if still to a lesser extent than vice-versa: "switching from AAA to a non-AAA development might be challenging as it requires scaling down (plans, team, budget), however it is much easier than the vice-versa situation." On the contrary, a few market participants indicated that both switching from developing AAA games to developing non-AAA games and viceversa is possible in a short period of time and with minimal costs.

For the purposes of this Decision, the Commission concludes that the relevant product market is the market for the development and publishing of PC and console video games. The Commission considers that the question whether this market should be further segmented based on game types can be left open, as this would not change the outcome of the competitive assessment in this case.

The EC concluded that segmentation based on payment model (buy to play or subscription) wasn't appropriate in the case (page 26)

The majority of respondents that expressed a view on this subject during the market investigation submitted that the market for game distribution should not be segmented by payment model (buy-to-play vs subscription services). In particular, from the demand-side, the majority of respondents considered that multi-game subscription services and digital storefronts selling games on a buy-to-play basis compete with each other and belong to the same market for (digital) distribution of games. From the supply-side, market participants provided mixed views as to whether a video games distributor selling games on a buy-to-play basis can switch to offering a viable multi-game subscription service in a short period of time and with minimal costs, and vice-versa.

In light of the above, for the purposes of this Decision, the Commission concludes that the market for game distribution should not be segmented based on payment model.

The EC concluded that segmentation based on type of access to video games (downloading vs cloud gaming) wasn't appropriate in the case (pages 26-27)

During its market investigation, the Commission asked market participants to provide their views with regard to the status quo in the market. The results of the market investigation indicated that the market for game distribution should not be segmented based on the type of access to video games (downloading vs. cloud game streaming).

In particular, from the demand-side, the majority of respondents considered that cloud game streaming services compete with the more traditional access to video games via download, as cloud game streaming constitutes just a different method to access the games.

In light of the above, for the purposes of this Decision, the Commission concludes that the relevant market is an overall market for PC and console video game distribution and that this market should not be segmented based on type of access.

If there was any doubt, MS is moving away from per-game monetization to a flat-fee subscription model (page 29)

The Notifying Party submits that, by acquiring Activision Blizzard, Microsoft enhances the attractiveness of Microsoft's multi-game subscription service Game Pass by adding Activision Blizzard's popular games to its library, as Microsoft undertakes to move from per-game monetization to a flat-fee subscription model. Microsoft expects the Transaction to improve Game Pass' user engagement and increase its subscriber base, allowing Microsoft to continue investing in Game Pass and cloud gaming functionality.

The 3 largest franchises from ABK in 2021 for PC and console (page 30)

Activision Blizzard's three largest franchises in 2021 in terms of revenues on PC and console were World of Warcraft, Call of Duty, and Diablo for PC, and Call of Duty, Crash Bandicoot, and Diablo for consoles.

The EC received complaints regarding Microsoft's supply of physics engines (Havok) but considered that there was no theory of harm specific to the merger (page 34, footnote 139)

The Commission has received complaints also as regards Microsoft's supply of physics engines, a type of software that allows computers to create physics phenomena such as rigid and soft body dynamics and fluid dynamics to reproduce the real-world situation. Such engines are critical for the development of video games with complex 3D physical characteristics. According to such complaints, postTransaction Microsoft would have increased incentives to require developers to use its Havok physics engine, and to degrade Havok's compatibility with competing gaming platforms that currently use Havok, thereby harming competition in the market for the provision of such physics engines. The Commission considers that such possible theory of harm is not merger specific, as Activision Blizzard's games does not carry out any activities that are horizontally or non-horizontally linked to the provision of physics engines. Therefore, the Transaction does not bring about any change in the ability and incentive for Microsoft to foreclose Havok's competitors. In light of this, the Commission has not assessed in this Decision the possible effects of the Transaction in the market for the provision of physics engines.

The EC received complaints regarding Microsoft's Jumpstart programme (a Windows license rebate) but considered that there was no theory of harm specific to the merger (page 35, footnote 140)

The Commission has received complaints also as regards Microsoft's Jumpstart programme. Jumpstart is a programme under which Microsoft grants PC manufacturers a […] Windows license rebate if they fulfil certain requirements (mainly consisting of the pre-installation of certain Microsoft apps, programs, software etc). According to the complaint received, the requirements imposed by the Jumpstart programme make it difficult for Microsoft's competitors offering similar apps and programs to compete fairly vis-à-vis PC manufacturers. Post-Transaction, Microsoft could expand the game related requirements to Jumpstart, especially by adding the Xbox app and Game Pass, thereby reducing the ability of rival gaming platforms to enter into promotional arrangements and to compete with Microsoft's gaming channels. The Commission considers that such possible theory of harm is not merger specific. Not only Microsoft could already implement such strategy, but the Transaction would not bring about any change in Microsoft's ability or incentive to foreclose competitors. Game Pass already allows to download games on Windows PCs only, and Game Pass Ultimate's cloud game streaming feature remains accessible as a web app via browser regardless of its integration into the Jumpstart programme. The Commission has assessed in Section 7.5.3 below Microsoft's ability and incentive to make Game Pass Ultimate's cloud game streaming feature no longer accessible on rival PC OS, as well as the effects of such strategy on competition. In light of this, the Commission has not assessed in this Decision the possible effects of the Transaction in relation to the possible foreclosure of rival distributors of video games due to the Jumpstart programme.

The EC received complaints regarding the provision of cloud gaming services (PlayFab and Azure) but considered that there was no theory of harm specific to the merger (page 35, footnote 141)

The Commission has also received complaints that the Transaction will harm competition on the market for the provision of cloud services. In particular, Microsoft is active in the provision of cloud services through its Azure business, and it also operates PlayFab, a back-end service that allows developers to use Azure to build and operate games, as well as to analyze gaming data. According to the complaints, Activision Blizzard's games will enhance the importance of Microsoft's cloud game streaming service, therefore post-Transaction Microsoft will have increased incentives to require developers to use PlayFab and Azure in order to develop games for cloud game streaming, especially for distribution via Microsoft's Game Pass Ultimate. The Commission considers that such possible theory of harm is not merger specific, as Activision Blizzard is not active in the supply of any cloud-related services that create competitive links with Microsoft's supply of PlayFab, nor that would change Microsoft's offering post-Transaction. In light of this, the Commission has not assessed in this Decision the possible effects of the Transaction in relation to the foreclosure of rival providers of cloud services.

MS is a small player in the market of development and publishing of AAA games (page 39)

The market share information shows that Microsoft is a small player in the market of development and publishing of AAA games, across all platforms and geographical segmentations. Its market shares in 2022 were equal or below [0-5]%, with the exception of console [0-5]% and PC and console [0-5]% worldwide only.

In the EEA, ABK has been losing marketshare in the development and publishing of AAA games on console since 2020 (page 39)

While Activision Blizzard's shares by revenue were consistently below [5-10]% in 2022, with the exception of console worldwide ([10-20]%), the Commission notes that Activision Blizzard has managed to consolidate its position as an important video games' publisher worldwide. In the EEA, Activision Blizzard's share of the market has progressively decreased, going from [10-20]% in 2020 to [5-10]% 2022 on PC and from [5-10]% to [0-5]% in the same period on console. Accordingly, the same trend is observable in the Parties' combined shares across all platforms and for PC and console together.

Tencent and Valve are the largest players in development and publishing on AAA PC video games by revenue (page 40)

Tencent and Valve are the largest players in development and publishing on AAA PC video games by revenue, followed by a wide range of smaller players, with shares around (EA and Embracer in the EEA) or below [10-20]%.

EA and Nintendo are the largest players in development and publishing on AAA console video games by revenue (page 40)

On console, EA is the market leader both globally ([20-30]%) and in the EEA ([20-30]), with Nintendo ranking second. EA's shares have increased since 2020, while Nintendo's have declined both globally and, to a lesser extent, in the EEA. As for console, besides EA and Nintendo, the market is divided between a long tail of small players.

EA and Tencent are the two largest players worldwide by revenue in development and publishing on AAA console and PC video games (page 40)

Finally, when we look at the broader market segmentation of PC and console, EA and Tencent are the two largest players worldwide by revenue ([10-20]% and [10-20]%), closely followed by the Parties, with a combined share in 2022 of [10-20]%. In the EEA, the difference that separates the first player, EA, and the second, Valve is larger, with a share gap of around [0-5]%. The Parties account for [5-10]% of the total market by revenue (with a declining trend over the 2020-2022 time period).

Microsoft is a small player in the development and publishing of AAA games with role playing elements on PC, ABK is Top 3 worldwide; NetEase and Nexon are numbers one and two; Embracer and Tencent are large players in the EEA (pages 40 - 41)

The market shares information shows that Microsoft is a small player in the development and publishing of AAA games with role playing elements on PC, with [0-5]% globally and [0-5]% in EEA in 2022. Moreover, Microsoft's market share has decreased in the period from 2020 to 2022 both globally and in EEA. However, Activision Blizzard is one of the top-3 players worldwide, accounting for [10-20]% of the market total revenues in 2022. Despite a decline from [30-40]% in 2020 to [30-40]% in 2022, Activision Blizzard is the first player in the EEA. The Parties' combined higher share in the EEA, [30-40]% compared to [10-20]% in 2022 worldwide, are due to a lower penetration of publishers like NetEase and Nexon in the EEA, that are the first ([20-30]%) and second ([10-20]%) largest players in the worldwide market. Nevertheless, the Parties in the EEA compete against two large players, Embracer ([30-40]%) and Tencent ([10-20]%). Their rapid growth — Embracer especially in two years has more than doubled its shares — overlaps with the Parties' decrement.

Embracer is the largest player in the market for developing and publishing on PC and console of AAA games with flying and racing elements; MS/ABK would be second worlwide and in the EEA (page 42)

Within the narrow market of AAA games with flying and racing elements, Activision Blizzard's share estimated to be around [0-5]% on PC and, respectively, [0-5]% globally and [0-5]% in the EEA on console in 2022. On the other hand, Microsoft has a market share on PC of [20-30]% worldwide and [10-20]% in the EEA, while on console the shares decrease to [10-20]% and [10-20]%.

Embracer is the largest player in the market for developing and publishing on PC and console of AAA games with flying and racing elements, who has more than doubled its market shares, going from [10-20]% in 2020 to [20-30]% 2022 globally and from [20-30]% to [40-50]% in the EEA. The Parties' combined share amounts to [20- 30]% worldwide and [10-20]% in the EEA in 2022, granting the Parties the role of second biggest player worldwide and EEA-wide.

MS/ABK would lead the market regarding the development and publishing of AAA action and adventure games by revenue; Sony, Nintendo or Epic would be alternatives (page 43)

On the market for development and publishing of AAA games with action and adventure elements on console, Microsoft has a market share by revenue of [0-5]% worldwide and [0-5]% in the EEA in 2022. Activision Blizzard's market shares by revenue have increased from [10-20]% in 2020 to [20-30]% in 2022 worldwide, while they have consistently decreased in the EEA, from [10-15]% in 2020 to [10- 20]% in 2022. On the market for development and publishing of AAA games with action and adventure elements on both console and PC, Microsoft's market share by revenue is below [0-5]% worldwide and below [0-5]% in the EEA. Similarly to the console market, Activision Blizzard's market shares by revenue have increased from [10-20]% in 2020 to [10-20]% in 2022 worldwide, while they have consistently decreased in the EEA, from [10-20]% in 2020 to [5-10]% in 2022.

Other players in the market are Epic Games with market shares by revenue of [5- 10]% and [10-20]% in 2022 worldwide and in the EEA respectively and Sony with market shares by revenue of [5-10]% and [0-5]% in 2022 worldwide and in the EEA. The majority of the market is split between other smaller competitors.

MS/ABK would lead the market regarding the development and publishing of AAA shooter console video games by revenue; Epic or EA would be alternatives (page 43)

In the market for development and publishing of AAA shooter console video games, the Parties' share of the market by revenue was [30-40]% worldwide and [10-20]% in the EEA. Activision Blizzard accounts for [30-40]% and [10-20]% of the market worldwide and EEA-wide, respectively. On the other hand, Microsoft represented only [0-5]% of the total market revenues globally and [0-5]% in the EEA.

Other developers and publishers with notable market shares by revenue are Epic Games and EA with more than [10-20]% market share by revenue worldwide and in the EEA. Other smaller players comprise the remaining [40-50]% of the market in the EEA and [20-30]% worldwide.

In the distribution of PC and console video games: Sony leads on console, Valve is the strongest player, NetEase is big worldwide but inactive in EEA (page 45)

With respect to shares by revenue for overall video games distribution, the market information shows that Microsoft is a small player across PC games both globally and in the EEA, while its shares on console in 2022 were [20-30]% worldwide and [20-30]% in the EEA. In the EEA, Microsoft has increased its shares for console video games from [10-20]% in 2020 to [20-30]% to 2022. In the same time period, Sony has experienced a decline in its EEA shares, from [60-70]% to [60-70]%. Nevertheless, Sony still holds a leading position in the market of overall games distribution on console both globally and in the EEA. The third largest player is Nintendo that has maintained its market share in the last three years and currently accounts for [10-20]% of the total market.

On PC, the Parties' combined shares in 2022 accounted for [10-20]% both in the EEA and worldwide. The two geographical markets differ when it comes to competitors and their presence in the market. Valve Corporation is the strongest player in both but its shares in the EEA are substantially higher ([40-50]%) compared to its share worldwide ([20-30]%). Furthermore, a China-based firm, NetEase, appears to be inactive in the EEA market for overall games distribution, while its shares globally account for [10-20]% of the total market.

Finally, by taking into account both platforms together, the Patties' combined share in 2022 was [20-30]% worldwide and [10-20]% in the EEA. Microsoft contributes to most of it, while Activision Blizzard's shares cover less than [0-5]% of the total market. For what concerns competition, Sony still holds a leader position, with [20- 30]% shares worldwide and [30-40]% in the EEA. Sony is then followed by Microsoft globally ([10-20]%) and by Valve Corporation in the EEA ([20-30]%).

In 2022, MS/ABK combined market share exceeded 20% by revenue (either on a worldwide or EEA-wide level) in 5 markets (page 46) | Those were the markets assessed by the EC in this case

Based on the market shares by revenue in 2022 provided by the Notifying Party, the Commission has identified five product market segments where the Parties' combined market share exceeds 20% by revenue in 2022 either on a worldwide or EEA-wide level:

(a) Development and publishing of AAA Role Playing video games on PC (EEA);

(b) Development and publishing of AAA Racing and Flying video games on: (i) PC and console (worldwide); (ii) PC (worldwide); and (iii) console (worldwide);

(C) Development and publishing of AAA Action and Adventure video games on: (1) PC and console (worldwide); and (ii) console (worldwide);

(d) Development and publishing of AAA Shooter video games on console (worldwide); and

(e) Distribution of video games on PC and console (worldwide).

Source: Idas

@EpicRandy @NobleTeam360 

The Commission considers that it can be left open whether this market should be further segmented based on game genres, in particular based on the following genres: (i) action and adventure; (ii) shooter (including battle royale); (iii) role-playing games; (iv) sports; (v) racing; (vi) fighting, and (vii) strategy, as this would not change the outcome of the competitive assessment in this case.

-----

Oh no, the famous "RPG monopoly" might come true in the future, LOL.

The EC did a brilliant investigation but I strongly disagree with segmenting the market by genre.

Some parts I find more interesting than the rest.

• Microsoft undertakes to move from per-game monetization to a flat-fee subscription model. 
• Tencent and Valve are the largest players in development and publishing on AAA PC video games by revenue
• EA and Nintendo are the largest players in development and publishing on AAA console video games by revenue
• EA and Tencent are the two largest players worldwide by revenue in development and publishing on AAA console and PC video games
• Microsoft is a small player in the development and publishing of AAA games with role playing elements on PC, ABK is Top 3 worldwide; NetEase and Nexon are numbers one and two; Embracer and Tencent are large players in the EEA
• Embracer is the largest player in the market for developing and publishing on PC and console of AAA games with flying and racing elements; MS/ABK would be second worldwide and in the EEA
• MS/ABK would lead the market regarding the development and publishing of AAA action and adventure games by revenue; Sony, Nintendo or Epic would be alternatives 
• MS/ABK would lead the market regarding the development and publishing of AAA shooter console video games by revenue; Epic or EA would be alternatives
• In the distribution of PC and console video games: Sony leads on console, Valve is the strongest player, NetEase is big worldwide but inactive in EEA

In 2022, MS/ABK combined market share exceeded 20% by revenue (either on a worldwide or EEA-wide level) in 5 markets

• Development and publishing of AAA Role Playing video games on PC (EEA);
  
• Development and publishing of AAA Racing and Flying video games on: (i) PC and console (worldwide); (ii) PC (worldwide); and (iii) console (worldwide);
• Development and publishing of AAA Action and Adventure video games on: (1) PC and console (worldwide); and (ii) console (worldwide);
• Development and publishing of AAA Shooter video games on console (worldwide); and
  
• Distribution of video games on PC and console (worldwide).