Australian Video Game Development Industry Up 21% To $143.5m
The Australian video game development industry continues to grow, drawing the majority of its revenues from exports while creating significant opportunities for skilled local jobs.
According to the survey from industry body, Interactive Games & Entertainment Association (IGEA), the Australian game development industry generated $143.5 million in the 2018-2019 financial year, up 21% since last year. And 71% of the studios surveyed project growth overall, with 35% expecting “significant growth” in revenues in the coming financial year.
The local industry employed 1,275 fulltime equivalent employees (growing 37% since 2017), of which programmers (34%), artists (19%) and management, marketing and administration (11%) made up the majority.
The number of organisations planning to employ additional staff is also growing with 61% of studios surveyed indicating plans for new hires, compared with 53% in 2017.
Australian studios are creative and focused with almost two-thirds (61%) of respondents exclusively developing their own Intellectual Property (IP). A further 28% develop their own IP alongside producing games and services for clients.
Some 83% of the revenue generated by Australian studios came from overseas, up 3 points from 80% in 2017.