2023 was rough for the video gaming industry; the sector slowed from industry-wide layoffs to stagnant consumer demand. However, the start of 2024 brings a new dawn for gamers as exciting gaming events, like the New York Game Awards and the “oh so cool” CES 2024, spice up gamers’ appetite for upcoming title announcements and cool tech. Additionally, the growing mobile gaming market and esports have given video gaming stocks great potential for investors’ portfolio growth. If you want to embrace that inner gamer in your portfolio, here are three stocks poised to make waves in 2024.

Electronic Arts (EA)

First on our list of video game stocks to buy in 2024 is Electronic Arts (NASDAQ:EA), a video gaming company best known for its titles like Madden NFL™, Need for Speed™, EA SPORTS FC™, Battlefield™, Plants vs. Zombies™, The Sims™ and others. The company also produces titles from other licenses like Star Wars™ and 300-plus licenses in the global football landscape. Its games cater to various genres of video games like first-person shooters, role-playing games, racing, sports and many more.

In the company’s latest quarter, it flexed the strength of its EA SPORTS portfolio with its successful EA SPORTS FC 24 launch. EA SPORTS FC 24 accumulated over 14.5 million active accounts within its first month, signaling a substantial market reception.

Its EA SPORTS Madden NFL and football franchises helped the company surpass expectations with its net bookings YoY growth of 4%. The company’s CEO, Andrew Wilson, highlighted the company’s transformation of their football franchise into an interactive platform for future fan engagement and provide consumers with a more significant overall experience. EA projects that FY’24 has a promising outlook, with an estimated net revenue of $7.3 billion to $7.7 billion and an operational outlook metric of net bookings expected within the same range. Its focus on expanding its global player base and a strong portfolio of games makes it a strong proponent for future growth for investors looking for video game stocks to invest in.

NetEase (NTES)

NetEase (NASDAQ:NTES) is a China-based company that has four main business segments: online game service segment for its online game operations and development; Youdao segment for its intelligent learning services; cloud music for its streaming and social entertainment services; innovation and others for its value add services, advertising and high end-email service. The company’s operations focus on both domestic and overseas markets.

NTES’ latest quarterly report indicated an 11.6% YoY revenue increase. Its mobile games, like Dunk City Dynasty and Justice, were the main drivers for the growth of its 16.5% gaming-related revenues. Other segments also experienced substantial performance numbers, like Youdao’s record-high revenue of 9.7% YoY and a gross profit increase of 23.4% from newly launched games and additional cost control measures across segments. NetEast has a strong position in the mobile market with diverse revenue streams that can give investors high growth potential. If you want a video gaming stock to diversify your portfolio, then NTES might be worth checking out.

Sony Group (SONY)

Last but not least on our list of video game stocks is Sony Group (NYSE:SONY), a Japanese conglomerate. Indeed, I’m pretty sure everyone on the planet either currently owns or once owned a Sony product.

Today, Sony has operations four main segments of operations:

• Games & Network Services (G&NS), which is its network services and gaming division,
• Imaging & Sensing Solutions (I&SS), which is its image sensor business,
• Music, movies, electronics products and solutions (EP&S), which is its music and entertainment businesses, and finally, its
• Financial segment for its insurance business.

While the company is also well known for its TVs, image sensors for cameras, media and audio devices, it owns one of the most popular gaming consoles, the PlayStation.

The company’s latest financial report indicated a 32% YoY performance for its Game & Network Services (G&NS) sales, driven by its PlayStation 5 hardware sales and third-party software. At the same time, there is a decrease in consolidated operating income from its financial services segment; its G&NS grew 16% YoY, underscoring Sony’s standout gaming division.

The company forecast also suggests that it is optimistic about its gaming division and revised its sales to grow by 5% for FY23. In addition, Sony predicts its other business segments, like Music and Pictures, could also get a YoY operating income increase of 3% and 7%, respectively. Its firm footing in gaming as a game developer hardware provider and a diversified revenue stream make it one of our top gaming stocks for bullish investors.

On the date of publication, Rick Orford did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.