European business, markets and politics
The Cologne show delivered fresh titles and a stark reminder of intense competition in the gaming sector.

Fans and industry insiders gathered in Cologne, Germany for the opening ceremony of Gamescom 2026, where presenter Geoff Keighley spent nearly two hours showcasing dozens of upcoming games to a packed audience of about 5,000.
The event did not feature the highly anticipated Grand Theft Auto VI, as its US developer Rockstar Games is planning a separate Netflix preview ahead of a November 19 launch. Instead, the spotlight fell on a new expansion for The Witcher 3, which will arrive next year alongside a free remastered version slated for 29 September. The Polish studio CD Projekt celebrated the move, noting the original game has sold over 65 million copies since 2015.
Japanese director Naoki Hamaguchi appeared to reveal fresh footage of Final Fantasy VII Revelation, the third and final entry in the long‑running remake series that began in 1997. From Ukraine, developers at 4A Games previewed Metro 2039, the next chapter in the post‑apocalyptic shooter franchise. Executive producer Jon Bloch said the game will explore “the price of freedom” as war looms closer.
“It’s a very crowded market,” said Joost van Dreunen, a professor at New York University’s Stern School of Business.
Chinese studio Hoyoverse introduced Nodus Fall, a cooperative action title set in a dark medieval world. Major console makers also made their presence felt: Nintendo promised a new Switch Sports Resort experience, while the Xbox division of Microsoft displayed Call of Duty: Modern Warfare 4 and Gears of War: E‑day. Absent was Japan’s Sony, the maker of the PlayStation 5.
Gamescom attracted over 1 600 exhibitors showcasing more than 800 games, yet the event’s scale masks underlying challenges. According to the ASGC Games Industry Layoffs Tracker, nearly 10 000 gaming jobs have been lost since January, with a projected 15 000 layoffs by year‑end, a figure that could rival the 2024 record set after the pandemic hiring boom.
Rising console prices, driven by higher memory‑chip costs linked to the AI boom, are squeezing profit margins. Studios are accelerating release schedules to avoid clashing with blockbuster titles such as GTA VI, creating a “very crowded market,” as noted by Joost van Dreunen.
Despite the competition, the show’s sold‑out opening and the enthusiasm of thousands of cosplayers suggest that demand for new experiences remains robust. The coming months will reveal whether the industry can balance cost pressures with the appetite for fresh content.
Gamescom 2026 may not have unveiled the biggest name of the year, but its blend of legacy remasters, sequel teasers and a packed exhibition hall signals both opportunity and strain for developers, publishers and gamers alike.