This study investigates children's media literacy with a specific focus on socially situatedness of children's understanding of online gaming industries and related marketing. This article analyzes interviews with 8-9-year-olds and their parents in homes in the U.S.A. Rather than concentrating on developmental factors, the article uses a sociocultural approach to analyze various aspects of children's gaming culture in domestic settings that relate to their understanding of gaming industries. The article considers implications for how children as consumers are understood by key stakeholders, including researchers and educators.