Total income generated by local studios fell 1.9% from the previous year. Employment remained steady at 2,465 full-time equivalent workers.
The sector is heavily export-oriented. Eighty-five percent of studios focus on developing their own original intellectual property rather than work-for-hire projects.
Export-driven model. The sector is highly export-focused, with 93% of total revenue derived from international markets.
Page 2 of the reportVictoria serves as the industry's primary hub, followed by Queensland and New South Wales. Small businesses dominate the ecosystem, with 47% of studios employing five or fewer staff members.
The offset, passed in mid-2023, is already being utilized by 25% of respondents to fund new projects or expand existing ones. Developers still cite securing publishing deals and early-stage funding as primary challenges.
The Australian game development industry demonstrated resilience and stability during the 2024 financial year despite significant global economic headwinds. Total income generated by local studios reached $339.1 million, representing a minor 1.9% decrease from the previous year. Employment remained steady with 2,465 full-time equivalent workers, a marginal 0.3% increase. The sector is heavily export-oriented, with 93% of all revenue generated from outside Australia. Furthermore, 85% of studios focus on developing their own original intellectual property rather than work-for-hire projects.
The industry landscape is characterized by a mix of emerging and established entities. While 56% of studios were formed within the last five years, a quarter of the sector consists of mature studios operating for a decade or more. Small businesses dominate the ecosystem, with 47% of studios employing five or fewer staff members. Geographically, Victoria serves as the primary hub, hosting 52% of head offices and 36% of the national workforce, followed by Queensland and New South Wales.
Government support remains a critical pillar for the industry. The Digital Games Tax Offset, which passed in mid-2023, is already being utilized by 25% of respondents to fund new projects or expand existing ones. Despite this support, developers identified securing international and local publishing deals and attracting early-stage development funding as their primary challenges.
The findings are based on a voluntary survey of 137 Australian game development studios conducted by Bond University on behalf of the Interactive Games & Entertainment Association. The data covers the period from July 1, 2023, to June 30, 2024. Looking ahead, the sector maintains a cautiously optimistic outlook, with 81% of studios predicting stable or increased revenue and 61% planning to hire new staff in the coming year.