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The Serbian gaming industry experienced a period of cautious growth throughout 2024, characterized by rising revenues and an expanding workforce despite broader market volatility. Total industry revenue reached 175 million euros, representing a 17% increase over the previous year. This financial growth was mirrored by a 14% rise in the total number of employees, which now exceeds 4,300 professionals. However, this expansion occurred alongside a contraction in the total number of active studios, as smaller entities faced increased pressure, leading to a net decrease in the number of operational companies within the ecosystem.

The geographic and structural scope of the sector reveals a maturing landscape where Belgrade and Novi Sad remain the primary hubs, though the industry is increasingly defined by a mix of domestic ownership and international acquisition. Analysis shows that studios with majority Serbian ownership continue to drive local innovation, while those acquired by global entities provide significant stability and scale. Despite the overall increase in headcount, the industry recorded a record low in planned new job openings for the coming year, signaling a shift toward talent retention and operational efficiency rather than aggressive expansion.

Methodological insights gathered from over 150 companies indicate that the average age of Serbian gaming firms is increasing, reflecting a transition from a startup-heavy environment to a more established professional sector. While mobile gaming remains the dominant platform for revenue generation, there is a growing diversification into PC and console development. The current climate suggests that while the Serbian ecosystem remains resilient and profitable, it is entering a phase of consolidation where established players are prioritizing sustainable growth over the rapid scaling seen in previous cycles.