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Gaming worth $184bn globally but advertiser spend is fractional

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Gaming

Two in five people worldwide are active gamers
26.7% year-on-year rise in average revenue per user for in-app gaming ads
A complex ecosystem, game publishers are working to build advertising capabilities and prove its effectiveness

WARC Global Advertising Trends | Gaming: Advertising’s untapped opportunity

01 August 2024 – Gaming has a vast global audience and is a key driver of culture, yet in-game advertising spend remains stubbornly low, according to WARC Media’s latest Global Ad Trends report, ‘Gaming: Advertising’s untapped opportunity’ released today.

Alex Brownsell, Head of WARC Media, says: “Gaming is huge, both in audience and cultural impact, and its highly complex ecosystem spans devices and platforms defying conventional definitions of a channel. Gaming has long been heralded as a vital emerging opportunity for brands, particularly those wanting to reach younger audiences.

“However, in-game advertising spend remains low. This may soon change, with game publishers focused on improving ad monetisation. But evidence is needed to make the case for gaming as an advertising medium.”

In this report WARC outlines key considerations for brands wanting to explore advertising opportunities in gaming:

In-game advertising investment growth remains slow despite its 3.4 billion audience and cultural impact

The worldwide games market generates revenues of $183.9 billion annually, far in excess of the music and movie businesses. Some 3.4 billion people globally play video games across age groups. Research by Newzoo has found that 72% of 35-54s and 46% of over 55s game at least once a week.

Nearly 90% of advertisers surveyed by the IAB agreed that gaming is a brand safe channel as a result of improved tools such as fraud deduction, context and age rating, ads interactivity and engagement metrics. Yet many marketers remain cautious of gaming as an advertising channel.

Enthusiasm around in-game ads peaked during the pandemic, but since 2021 the share of advertisers planning to increase spend on gaming has fallen by 20 percentage points, from 72% to 52% per WARC’s Marketer’s Toolkit 2024 survey.

US advertisers are forecast to spend $6.7bn on in-game ads in 2024, up 10.0% year on year. This is equivalent to only 3.7% of total US digital ad spend, according to Dentsu.

Gaming is a complex ecosystem rather than a singular channel

The gaming advertising ecosystem is bewildering, spanning devices, genres, formats, and market preferences. This is contributing to the slow uptake of in-game ads.

Brands can choose between numerous touchpoints to reach gaming audiences, including creator content on Twitch, user discussions on Discord, and e-sports sponsorships, meaning they aren’t reliant on nascent in-game formats.

Additionally, gamers themselves are not uniform. Over half (53%) play video games to escape from everyday life, while 63% see gaming as a good way to spend time with family and friends, per Microsoft-owned Activision Blizzard Media. Whilst mobile gaming is most common, nearly half (48%) play with more than one device per Newzoo.

Jo Pereira, SVP Strategy, Media Futures Group, EssenceMediacomX, says: “Gaming is a whole entertainment ecosystem, not a channel, and is stealing share from entertainment platforms. However, clients haven’t grown up with gaming, and feel less confident with the opportunities.”

Game publishers are working to build ad capabilities and prove the effectiveness of in-game ads

Gaming offers full funnel potential. However, while programmatically traded mobile app inventory is dominated by endemic gaming advertisers, most larger brands use in-game advertising to drive mid- and upper-funnel goals.

But understanding the overall impact of gaming can be challenging. Gaming companies and agencies are trying to step up, forming dedicated gaming practices to assist with media and creative requirements.

Gaming generates higher attention rates

Research by Dentsu, Lumen and Activision Blizzard Media found gaming environments generate higher viewability and attention rates, as well as more efficient cost. In-game rewarded video ads achieved a 100% on screen impression rate (exceeding the benchmark of 83%), an average of over 10,000 attentive seconds per thousand impressions.

Nina Fedorczuk , Chief Enablement Officer, Omnicom Media Group Asia Pacific, says: “Gaming requires attention. It’s unlikely that gamers multitask in-game; everything else is just background noise. ⟮For brands⟯ it’s a matter of keeping that attention, and not jolting gamers out of it.”

Gaming content commands active engagement

While Gen Z spends an average of 12.2 hours per week on games, there is also a generational shift to more active engagement: 53% of Gen Z consumers spend more than half of their time engaging with game IP in other ways than playing.

Consumers in markets like China, Hong Kong, Taiwan and Vietnam are more likely to use games to socialise, and according to data in WARC’s latest Spotlight South East Asia, 31% of Malaysian gaming consumers had bought a product they saw while playing games.

Game developers are moving to boost advertising revenue

In-app advertising has seen major growth in the past year. Data from Unity suggests a 26.7% year-on-year rise in average revenue per daily active user resulting from in-app ads, with simulation, casual and puzzle games seeing the biggest increase in in-app advertising.

Whilst gaming companies such Roblox are working hard to boost advertising revenue, such expenditure may be ineffective without adequate support in other channels, particularly social, which are key to facilitating discovery and engagement.

Netflix has reportedly spent $1bn on its gaming business since launching three years ago, with game downloads up 200% since 2022. Investment in gaming content has helped The New York Times to retain users with other digital platforms including LinkedIn and YouTube following suit.

Read a complimentary sample report of WARC’s Global Ad Trends – Gaming: Advertising’s untapped opportunity here. WARC Media subscribers can read the report in full. A WARC podcast discussing the findings outlined in the report will be available from 20 August.

Global Ad Trends is a quarterly report which draws on WARC’s dataset of advertising and media intelligence to take a holistic view on current industry developments. It is part of WARC Media, a subscription service which provides rigorous and accurate benchmarks aggregated and verified from over 100 reputable sources, empowering media decision makers to plan strategies with precision.

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Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

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The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

 

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Beyond Stabroek: Guyana’s Offshore Basin Attracts New Wave of Exploration Investment

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As ExxonMobil advances appraisal activity in Stabroek and new operators target frontier acreage, Guyana is attracting global capital and building a diversified offshore portfolio designed to sustain long-term growth

GEORGETOWN, Guyana, August 7, 2026/APO Group/ –Guyana’s transformation into one of the world’s fastest-growing oil producers is entering a new phase, with a growing network of IOCs expanding exploration activity across the country’s offshore basin. Beyond the landmark discoveries that first put Guyana on the global energy map, new drilling campaigns and licensing partnerships are creating a broader exploration ecosystem designed to support long-term production growth.

At the center of this momentum is ExxonMobil’s continued exploration and appraisal activity in the prolific Stabroek Block. The company has submitted a proposal for a 35-well exploration and appraisal drilling campaign, expected to run from 2028 through 2033, pending regulatory approval. The program would build on more than 30 commercial discoveries already made in the block, with drilling activity focused on evaluating new prospects and appraising existing discoveries to support future development opportunities.

Exploration activity is also extending into Guyana’s frontier acreage, with ExxonMobil advancing drilling operations at the deepwater Canje Block. The company has deployed the Noble Stena Carron drillship for exploration activity, highlighting continued industry interest in evaluating Guyana’s underexplored offshore potential beyond the established Stabroek Block.

Guyana’s strong exploration outlook comes as the country’s economy continues to benefit from rapid oil sector expansion, with hydrocarbons expected to remain a key driver of exports, government revenues and economic growth. As production scales up, attracting additional investment across exploration, services and infrastructure will be critical to supporting the next phase of development.

That momentum is being reinforced through partnerships established under Guyana’s 2023 offshore licensing round. A consortium comprising TotalEnergies, QatarEnergy and Petronas is advancing exploration activities in Block S4 under a five-year production sharing agreement signed with the government in late 2025. The award represents one of the first major outcomes of the licensing round and demonstrates continued international confidence in Guyana’s offshore resource potential.

Beyond the largest operators, a diverse group of companies is also expanding activity across Guyana’s offshore basin. Eco Atlantic is advancing exploration at the Orinduik Block; CGX Energy and Frontera Energy are progressing work in the Corentyne Block; Occidental is evaluating opportunities in the Roraima Block; while Ratio Guyana and Cataleya Energy hold interests in the Kaieteur Block. Together, these partnerships are broadening Guyana’s exploration landscape, increasing competition for acreage and creating opportunities for future discoveries.

As Guyana transitions from an emerging producer to a global energy hub, the next challenge will be converting exploration success into sustainable investment, local value creation and regional growth. These opportunities will be explored at Caribbean Energy Week 2027, held under the theme “Unlocking the Caribbean Energy Corridor: Oil, Gas, LNG & Investment for a New Global Hub.” Bringing together governments, IOCs, investors and technology providers, the event will examine how Guyana’s expanding partnerships can accelerate offshore development, strengthen regional energy cooperation and attract the capital needed to support the Caribbean’s evolving energy landscape.

Distributed by APO Group on behalf of Energy Capital & Power.

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Energy Capital & Power Establishes London Entity, Expanding Global Platform for Energy and Mining Events

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The move strengthens ECP’s presence in the UK and Europe, and its ability to connect African and South American markets with global investors

LONDON, United Kingdom, August 6, 2026/APO Group/ –International events company Energy Capital & Power (ECP) (www.EnergyCapitalPower.com) has officially established its UK entity in London, marking a milestone in the company’s growth strategy and reinforcing its ability to deliver world-class energy and mining events and campaigns in the UK and Europe.

By establishing a presence in a key hub like London – the pre-eminent energy and mining finance center – ECP actively shapes the global energy conversation. The expansion positions ECP to better serve clients, partners and investors seeking to develop business opportunities between Africa, Europe, the Americas and energy markets worldwide.

Opening our UK company brings ECP closer to key investors in the global energy finance capital

The milestone comes as ECP strengthens its reach through a series of investment platforms that connect global capital to energy and mining projects. These include the Venezuela Energy Week London Showcase on July 30 – with over 300 delegates registered – and the annual Invest in African Energy Forum, held in Paris as the premier event connecting global investors to Africa’s energy transformation.

ECP hosts high level summits and investor conferences in leading energy and minerals producing countries in Africa and South America, including: Venezuela Energy Week; Angola Oil & Gas; MSGBC Oil, Gas & Power; African Mining Week; Libya Energy & Economic Summit; Congo Energy & Investment Forum; South Sudan Oil & Power; and Caribbean Energy Week. The company has hosted investor forums and supported licensing round roadshows in Houston, London and Paris since 2016.

“Opening our UK company brings ECP closer to key investors in the global energy finance capital,” states CEO James Chester. “Having a permanent presence in London further cements our footprint in Europe, enabling us to fulfil our mission to bring minerals and energy investment to diverse global markets.”

With teams located across Africa, Europe and the Americas, ECP has long-facilitated strategic engagement, market intelligence and industry convening, uniting investors with leading energy and mining projects.

Distributed by APO Group on behalf of Energy Capital & Power.

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