Gaming, it turns out, is a good way to add a few billion dollars to your bottom line.

In 2014, the top 25 public companies in the game industry made $54.1 billion in revenues, according to research-firm Newzoo. That’s up 10.4 percent year over year, and that growth comes from nearly all sectors that make up the gaming market. This is indicative of an industry that is healthy and expanding in several different ways — although nothing is growing as fast as mobile. These 25 public companies actually made up 65 percent of the $83.6 billion game market.

Tencent, the owner of developer Riot Games and its free-to-play mega-popular multiplayer online arena battler League of Legends, led all companies. Sony, Microsoft, EA, and Activision followed behind to round out the top five. In terms of mobile, Apple, Google, and Candy Crush Saga publisher King led the bottom half of the top 10. Publishers Nintendo and Ubisoft followed at No. 9 and No. 10, respectively.

Going back to Tencent, not only did it top the list with $7.2 billion in gaming revenues (according to Newzoo estimates), but it also had the second largest growth at 37 percent year over year. Only Google, which grew from $1.4 billion in 2013 to $2.6 billion, is expanding faster at 89 percent.

Newzoo_Top10_Public_Companies_Game_Revenues_FY2014_v2

The above chart shows how the representation breaks down among the various kinds of gaming companies. Tencent is tops with its huge free-to-play PC games that are enormously popular in both established and emerging markets. Traditional gaming companies like Sony, Microsoft, and EA still make up the bulk of the spending, but mobile — led by Apple, Google, and King — is growing at a huge rate.

Only social games from companies like Zynga and Facebook have failed to crack the top 10, and that’s also the big gaming sector that is shrinking. The growth of mobile games suggests that casual spending has shifted from the Web to smartphones.

Beyond where gamers are playing, Newzoo also provided some insight about one of the places games come from. The research firm noted that Japan, which accounted for nearly 34 percent of all revenues in 2013 among the top 25 public companies, only made up around 30 percent in 2014. And that decline comes despite Sony’s 27 percent year over year growth to $6 billion in revenues.

“Without Sony, the numbers would have looked much worse,” reads the Newzoo report. “Tellingly, nine out of the 16 publicly listed Japanese companies reported a year on year decline in revenues in 2014.”

That could change in 2015 as Nintendo, one of the major Japanese game publishers, starts embracing mobile.

Newzoo has even more about this data in its most recent report, which you can find here.

Sony is a Japanese multinational conglomerate corporation headquartered in Kōnan, Minato, Tokyo, Japan. Sony Corporation is the electronics business unit and the parent company of the Sony ... All Sony news »

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Apple designs and markets consumer electronics, computer software, and personal computers. The company's best-known hardware products include the Macintosh line of computers, the iPod, the i... All Apple news »

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Activision (Activision Blizzard) is an American video game developer and publisher headquartered in Santa Monica, CA, but now operating worldwide. It was the first independent developer and ... All Activision news »

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Electronic Arts Inc. (EA), headquartered in Redwood City, California, is a leading global interactive entertainment software company. Founded in 1982, the Company develops, publishes, and di... All Electronic Arts news »

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Google's innovative search technologies connect millions of people around the world with information every day. Founded in 1998 by Stanford Ph.D. students Larry Page and Sergey Brin, Google ... All Google news »

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Ubisoft is a leading producer, publisher and distributor of interactive entertainment products. Present in 28 countries with 26 studios and a distribution network that spans more than 55 ter... All Ubisoft news »

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Sony Interactive Entertainment, Inc. is a major video game company specializing in a variety of areas in the video game industry, and is a wholly owned subsidiary and part of the Consumer Pr... All Sony Interactive Entertainment news »

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The development of Tencent and its products and services has profoundly influenced the way millions of Internet users communicate with one another socially and will continue to do so in the ... All Tencent news »

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King is a leading interactive entertainment company for the mobile world, with people all around the world playing one or more King games. King has more than 190 fun titles in over 200 count... All King Digital Entertainment news »

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