AAA Publisher Struggles, Roblox’s Growth and Transmedia Success

Feb 10, 2026

Aaron Bush, managing partner and co-founder at Novik with deep experience advising game companies. He outlines Novik’s fractional talent rollout and previews the State of UGC 2026. They dissect EA’s Battlefield resurgence, Ubisoft’s turmoil, Roblox’s 2025 growth spurt, console and chip dynamics, AI world models like Genie 3, and shifting AAA/AA economics.

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ADVICE

Use The State Of UGC Report

Expect Novik's State of UGC 2026 report to publish around early–mid March for a consolidated view of the fragmented market.
Use the report to track creator-platform trends and R&D shifts in UGC ecosystems.

INSIGHT

Console Strategies Face Native Tension

Console market dynamics remain stable: Switch 2 strong, Xbox hardware base shrinking, and Game Pass pricing reflects model tensions.
Aaron Bush argues exclusives and subscription goals create conflicting priorities for console strategy.

INSIGHT

Games Are The New Source IP For Hollywood

Games-to-Hollywood adaptations are maturing as directors/producers who grew up with games push more adaptations.
Aaron Bush sees games becoming a primary IP source like books were for prior generations.

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After a volatile few months across games, tech, and public markets, it’s time for a grounded check-in on where the industry actually stands. Host Devin Becker is joined by Aaron Bush (Managing Partner & Co-Founder, Naavik) to unpack the latest signals – from AAA publisher performance and what recent EA earnings suggest for big franchises like Battlefield, to Ubisoft’s ongoing restructuring, studio closures, and the push to reframe its future through initiatives like Vantage Studios.

Next, they dig into Roblox’s continued growth and what its recent results imply, even as age-related scrutiny and safety conversations remain part of the narrative.

From there, the discussion widens to the state of the console market: the early momentum around Switch 2 sales, the trajectory of Xbox hardware, and why Sony appears to be holding its ground.

Devin and Aaron also look at how transmedia is shaping perception and demand, including Nintendo’s recent moves and what releases like an upcoming Mario Galaxy movie – and the surprise success of Iron Lung this month – reveal about IP leverage, audience crossover, and timing.

They close with addressing the market whiplash around the reveal of Google DeepMind’s Genie 3, and a “buy, sell, or hold” round covering Microsoft, Krafton, AAA vs. AA, and PC gaming to highlight where near-term opportunities and risks may be emerging.

We’d like to thank Heroic Labs for making this episode possible! Thousands of studios have trusted Heroic Labs to help them focus on their games and not worry about gametech or scaling for success. To learn more and reach out, visit https://heroiclabs.com/?utm_source=Naavik&utm_medium=CPC&utm_campaign=Podcast

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Sound design by Gavin Mc Cabe.