Unity 2Q25:Clear Marginal Improvements

In our first report on AppLovin and Unity late last year, we analyzed Unity Vector and Jim Payne. Jim Payne is an entrepreneur I greatly admire and have followed for a long time. After Jim Payne left Unity, I reduced my focus on the company.

However, over the past two months, I've continuously heard gaming industry contacts mention Unity Vector. We've resumed coverage of Unity.

Our recent research has indeed shown very clear marginal improvements in Vector, with ROI genuinely improving 10-20%. Nearly all advertisers mentioned Vector's improvements to us. However, whether this can be sustained still requires monitoring whether ROI will decline after 3-6 months, and whether advertisers can acquire more new users while maintaining higher ROI. This question is critical because advertisers have previously participated in Unity tests multiple times, but often stopped spending due to rapid ROI deterioration or inability to scale.

But this time seems different.

Let's begin the Unity Preview.

We recently spoke with 9 experts to update our views on several key topics