Nordic Game 2026 was full of smiles, but they hid a very tough reality | Opinion

Nordic Game 2026 in Malmö had the usual friendly, high-energy feel, but the conference content was dominated by a much harsher reality: too many games, too little money, and fewer reliable paths to market. The show still drew a multinational crowd, with booths from Germany, Ukraine, Moldova and others, and Moldovan game Lootbound won the People’s Choice Award.

The business talks were the clearest signal for developers. Jason Della Rocca reminded teams that VCs back opportunities, not payroll problems, while Walter Paleari noted that acquisitions on PC and console have slowed, making pure equity investment harder to justify without a believable exit. Griffin Gaming Partners’ Jakob Longer said the firm’s new $100 million Special Opportunities Fund is aimed at AA projects and uses revenue share rather than equity, reflecting how investors are adapting.

On the publishing side, speakers argued the old model is effectively gone. Adam Orth called it broken and pointed to modular publishing, where publishers only handle selected parts of the pipeline. Tim Campbell went further: assume self-publishing from day one, build product/market fit early, and keep a sales-ready build and community in place because cancellation can happen even after a deal is signed.

The broader market outlook was equally sobering. Newzoo’s Emmanuel Rosier said the industry may have hit a technical plateau, with hardware jumps no longer driving the same demand, while competition from Chinese and Asian publishers is intensifying. For developers, the practical takeaway is clear: secure traction earlier,...