This paper assesses the economic weight of video games in the media and entertainment industry (global and regional markets, and per segment). It describes the dynamics of this industry and its different segments, and presents the various actors of its value network, including their role and their respective weight. It shows that this young sub-industry, the fastest-growing part of the media industry, is undergoing rapid change to its market structure. The author concludes by considering Europe's competitiveness in this field.