Australian Video Game Development Industry Stays Steady, Generating $339.1 Million for the Economy

The Interactive Games & Entertainment Association's ninth annual Australian Game Developer Survey, released in December 2024, reports that reported revenue for Australia's video game development industry held steady in FY2024 at AUD$339.1 million, down modestly from AUD$345.5 million in 2023. The findings are based on responses from 137 studios that completed the voluntary survey, covering financial activity from 1 July 2023 to 30 June 2024, up from 111 participating studios the previous year. Survey responses were collected by Bond University and supplied to the association in aggregate form.

Full-time employment across the surveyed studios remained essentially flat at 2,465, a 0.3% increase year on year, as staff reductions at smaller operations were offset by expansion at medium and larger studios. Sixty-one percent of studios indicated plans to hire in 2025. Roughly 93% of revenue originated from overseas sources, and about a quarter of respondents accessed the Digital Games Tax Offset in the prior year, with just under 40% intending to do so in the current financial year.

The sector is characterised as a mature mix of business sizes, with 56% of studios less than five years old and 25% having operated for ten or more years. Victoria hosts 52% of studio head offices, while 82% of workers are located on the east coast, though Western Australia saw the largest employee share growth, rising from 3% to 6%. Persistent challenges include securing international and local publisher deals and accessing early-stage funding. Outlooks for 2025 are cautiously optimistic, with 81% of surveyed studios anticipating income growth or stability.