The top 10 gaming companies made $126bn in revenue last year.
That's according to a new report by Newzoo, shared by Venturebeat.
Chinese giant Tencent is at the top, with a revenue of $32.2bn. It's followed by Sony ($18.2bn) and Apple ($15.3bn).
Microsoft and Google round out the top five, with $12.9bn and $11.0bn in revenue respectively.
Activision Blizzard and Nintendo are in joint eighth place with $8.1bn.
Changes in revenue compared to the previous financial year aren't huge, with Newzoo stating that acquisitions will likely be the biggest differentiator in driving growth.
To that end, what's interesting is that had mergers occurred earlier, Microsoft and Activision Blizzard's combined revenue would have boosted the pair above Sony to take second place.
Further, if Take-Two already owned mobile publisher Zynga, it would've made the top 10.
Newzoo also noted Microsoft's growth (9.6 percent) compared with Nintendo's 1.9 percent and Sony's drop (2.3 percent). It attributes this to the success of Game Pass, where Sony and Nintendo have struggled following the pandemic boom of 2020.
Last month we reported that Xbox had taken global market share with its Xbox Series X/S consoles.