Just launched Returnal on April 30th, 2021
Source: The Game Industry of Finland 2020In 2020 the Finnish Game Industry celebrated its 25th anniversary.
Source: The Game Industry of Finland 2020Creators of DYSMANTLE, Undead Horde, Tesla vs Lovecraft, Crimsonland, and 30+ other titles!
Source: The Game Industry of Finland 2020Our first game, Iron Danger, was released in 2020
Source: The Game Industry of Finland 2020We’re backed by Supercell and recently closed €150M in funding from them
Source: The Game Industry of Finland 202066% Revenue from USA, 21% from EMEA and 12% from Asia
Rovio went public at around EUR11.80/share and is currently trading around EUR7.20/share which is up from about EUR5 in late 2021
Source: Two & a Half Gamers Session #13: Rovio Monetization and User Acquisition Case StudyClash franchise alone generated over $10B at one point.
Source: I Am Sorry, but Supercell Is Superdead: UA Lessons We Can Learn From
The image displays a cover of a video game called "The Game of Fin Land". The background is dark blue with a gradient to black at the top. There are 5 characters from the game on the cover. From left to right, there is a man with brown hair and a beard wearing a black suit and red tie. He has his left hand on his hip, and his right arm is bent with his hand near his head. He has a serious expression on his face. Next to him is a red bird with a yellow beak and black eyes, wearing a brown vest. The bird has its wings spread out and is looking at the man with an angry expression on its face. The third character is a woman with long red hair and green eyes, wearing a white dress. She has her arms crossed in front of her chest and is looking at the man with a stern expression. The fourth character is a man with brown hair, wearing a black suit and red tie. He has his hands clasped in front of him and is looking at the man with a determined expression. The final character on the right is a woman with short brown hair and blue eyes, wearing a white dress. She has her hands clasped in front of her chest and is looking at the man with a hopeful expression. The title of the game, "The Game of Fin Land", is displayed at the top of the cover in yellow text. The words "Report 2024" are displayed below the title in white text.

The figure illustrates the evolution of a game over time, specifically focusing on the development of a mobile game. The timeline spans from 2010 to 2025, highlighting key milestones and events in the game's history. Here is a detailed description of the figure: ### 2010 - **Hill Climb Racing**: The game was developed by HayDay & Clash of Clans. - **Shadow Cities**: Developed by Alan Wake. - **SimCity BuildIt**: Developed by Best Fiends. ### 2012 - **F2P mobile**: The game was developed by Gungho & Softbank. - **VR/AR hype**: The game gained significant attention, with mentions of "VR/AR" and "hype." ### 2015 - **Quantum Break**: The game was developed by Empires & Puzzles. - **Cities: Skylines**: The game was developed by Cities: Skylines. - **Legend of Grimrock**: The game was developed by No Man's Land. ### 2020 - **Baba is you**: The game was developed by Squad Busters. - **Merge Mansion**: The game was developed by Noita. - **Control**: The game was developed by Control. - **Brawl Stars**: The game was developed by Brawl Stars. ### 2025 - **Pax Dei**: The game was developed by Stumble Guys. - **Returnal**: The game was developed by Returnal. - **Finnish Cottage Simulator**: The game was developed by No Man's Land. ### Additional Information - **Total turnover > 3 billion EUR**: The game was valued at over 3 billion euros. - **Disruptions: Metaverse, P2E AI**: The game faced significant disruptions in the metaverse and peer-to-peer artificial intelligence (AI) space. - **Covid-19**: The game was affected by the COVID-19 pandemic, with a significant drop in user engagement. - **Sulake NFT**: The game was developed by Sulake, a non-fungible token (NFT) platform. - **WAR**: The game was developed by War, a popular battle royale game. ### Visual Elements - **Moon**: The background features a large, detailed moon. - **Characters and Objects**: Various characters and objects are depicted in the background, including a creature with glowing eyes and other fantas

The image shows a scene from the video game "Halo 3". The player character, Master Chief, is shown in a fighting stance, holding a gun. He is standing on top of a large, black, spherical object with a red "M" symbol on it. The sphere is surrounded by flames and there are two large, black, mechanical creatures with red eyes in the background. The image is rendered in a realistic style and the colors are vibrant and bright.

The figure illustrates the distribution of the number of users in a social network, specifically focusing on the top 10 most popular users. The map is color-coded to represent different regions, with each region labeled by a number indicating the count of users in that area. Here's a detailed breakdown: 1. **Color Coding**: The map uses different shades of purple to differentiate between regions. Each region is shaded differently, with darker shades indicating a higher number of users. 2. **User Distribution**: - The region labeled "12" has the highest number of users, with a count of 12. - The region labeled "10" has the second-highest number of users, with a count of 10. - The region labeled "6" has the third-highest number of users, with a count of 6. - The region labeled "23" has the fourth-highest number of users, with a count of 23. - The region labeled "49" has the fifth-highest number of users, with a count of 49. - The region labeled "6" has the sixth-highest number of users, with a count of 6. - The region labeled "23" has the seventh-highest number of users, with a count of 23. - The region labeled "49" has the eighth-highest number of users, with a count of 49. - The region labeled "6" has the ninth-highest number of users, with a count of 6. - The region labeled "23" has the tenth-highest number of users, with a count of 23. - The region labeled "49" has the eleventh-highest number of users, with a count of 49. - The region labeled "6" has the twelfth-highest number of users, with a count of 6. - The region labeled "23" has the thirteenth-highest number of users, with a count of 23. - The region labeled "49" has the fourteenth-highest number of users, with a count of 49. - The region labeled "6" has the fifteenth-highest number of users, with a count of 6. - The region labeled "23" has the sixteenth-highest number of users, with a count of 23.
![or null if not a data key, "value": "null"}
The image is a vibrant and colorful representation of the game Return. At the center of the image, there's a green alien-like character with a red and white striped shirt. This character is surrounded by a variety of images, each depicting different scenes from the game.
The background of the image is filled with these images, creating a mosaic-like effect. The characters and objects in these images are diverse, including people, animals, and vehicles, each contributing to the overall narrative of the game.
The text in the image reads "Return JSON: {description": "what the figure shows", "chartData": [{"label": "...", "value": ...}] or null if not a data chart, "keyFindings": ["finding1", "finding2"]} or null if not a data key, "value": "null"} and "keyFindings": ["finding1", "finding2"]} or null if not a data key, "value": "null". This text provides additional context about the image, indicating that it's a data chart from the game Return.
Overall, the image is a detailed and colorful representation of the game Return, with its various characters and scenes depicted in a mosaic-like manner.](https://files.gameindustrylibrary.com/figures/201/6f72832b10dd120bd75f1b81727d80a60441fca438cb536521cbfd0d8aaa7782.jpg)
or null if not a data key, "value": "null"} The image is a vibrant and colorful representation of the game Return. At the center of the image, there's a green alien-like character with a red and white striped shirt. This character is surrounded by a variety of images, each depicting different scenes from the game. The background of the image is filled with these images, creating a mosaic-like effect. The characters and objects in these images are diverse, including people, animals, and vehicles, each contributing to the overall narrative of the game. The text in the image reads "Return JSON: {description": "what the figure shows", "chartData": [{"label": "...", "value": ...}] or null if not a data chart, "keyFindings": ["finding1", "finding2"]} or null if not a data key, "value": "null"} and "keyFindings": ["finding1", "finding2"]} or null if not a data key, "value": "null". This text provides additional context about the image, indicating that it's a data chart from the game Return. Overall, the image is a detailed and colorful representation of the game Return, with its various characters and scenes depicted in a mosaic-like manner.

This image displays a line graph and a table showing the turnover in € million for a company or industry from 2004 to a projected 2024. It illustrates a significant growth trend in turnover over these years, with specific values provided for selected years in the accompanying table.
MTG’s 2010 Modern Responsibility initiative establishes a comprehensive framework for integrating economic, environmental, and social accountability across its global media operations. Spanning 33 countries, the company’s strategy centers on four pillars: responsible business conduct, broadcasting integrity, employee relations, and community engagement. By adopting the Global Reporting Initiative framework and conducting a formal materiality analysis, the organization has aligned its internal governance with stakeholder priorities, specifically emphasizing anti-corruption, regulatory compliance, and fair employment practices. Operational performance in 2010 reflects a dual focus on professional development and social impact. The company invested heavily in human capital through the MTG Academy, which emphasizes leadership and sales training, while simultaneously promoting diversity and female representation in management. Beyond internal operations, the company leveraged its media influence to drive social change, donating 111 million SEK in airtime to charitable causes and launching foundations such as MTG United for Peace and Playing for Change. These efforts underscore a commitment to using broadcasting platforms to support disaster relief, cancer research, and youth development. Environmental stewardship remains a critical, albeit challenging, area of focus. Total climate impact reached approximately 15,000 tons of CO2e in 2010, driven largely by business travel and facility energy consumption. Despite a 36 percent increase in travel-related emissions, the company has implemented rigorous mitigation strategies, including the adoption of ISO 14001 standards and a mandate to reduce CO2 emissions per employee by 5 percent by early 2012. Through the integration of green training for 59 percent of its staff and the expansion of video conferencing, the organization seeks to balance its international growth with a measurable reduction in its corporate carbon footprint.
REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2024 2 Report of the Board of Directors 3 10 Financial income and expenses 32 Parent company’s financial statement Group financial statements 11 Income taxes 33 Parent company’s statement of profit of loss 54 Group’s comprehensive income statement 15 12 Earnings per share ...
The 2024 overview of Finland’s game sector presents a comprehensive assessment of an industry that remains a global technology leader while confronting a tightening financing environment. Employment reached roughly 4,300 individuals, equivalent to about 3,800 full‑time positions, underscoring the sector’s significance within the national economy. However, a pronounced drop in private risk capital and publisher backing has pushed many studios toward B2B subcontracting, co‑development agreements, and an expanding reliance on European Union and national public R&D programmes, especially after recent reductions in regional funding streams. Talent depth continues to drive innovation, with Finnish teams at the forefront of AI‑assisted development, proprietary engines, and cloud‑gaming solutions. Persistent shortages of senior developers and specialists in Unreal Engine, together with increasing regulatory complexity and geopolitical uncertainty, pose constraints on future growth. New public R&D instruments and targeted regional SME support aim to mitigate these pressures and sustain the ecosystem’s dynamism. Geographically, the industry is anchored by a network of regional hubs, notably Jyväskylä’s EXPA, which serves as a northern innovation cluster. The ecosystem is highly diversified, ranging from global powerhouses such as Supercell—employing over 800 staff and delivering seven worldwide hit titles—to agile indie studios like Snowhound, which hosts more than 120 employees from over twenty nationalities, and niche ventures such as Soihtu DTx, which secured a $4.2 million seed round for a clinically validated mental‑health game. Across the board, firms are expanding into cross‑platform and co‑development projects, exemplified by collaborations between Ubisoft RedLynx and Zaibatsu Interactive, reflecting a broader trend toward collaborative, multi‑disciplinary production.
The Finnish game industry established itself as a premier global hub between 2021 and 2022, maintaining a record annual turnover of €3.2 billion. This performance places Finland among the top five national game industries in Europe. Despite a shift toward the "games-as-a-service" model and macroeconomic headwinds that reduced the frequency of new game launches, the sector experienced a surge in startup activity and employment. By late 2022, the industry supported 232 active studios and approximately 4,100 employees, characterized by a highly international workforce and a stable presence of female professionals. While mobile remains the dominant platform by revenue, there is a significant strategic pivot toward PC and multiplatform development, with 64% of studios now targeting the PC market. This evolution is supported by a sophisticated funding ecosystem that includes over €300 million in private investment and substantial public R&D support from Business Finland. The industry’s maturity is further evidenced by high-profile acquisitions from global giants such as Sony, Netflix, and Playtika, alongside the continued success of established leaders like Supercell, Rovio, and Remedy Entertainment. The ecosystem is anchored in Helsinki, which accounts for the vast majority of turnover and employment, but it also benefits from thriving regional clusters in Tampere, Oulu, and Kajaani. These hubs specialize in diverse technologies ranging from VR and Web3 to simulation and narrative-driven titles. Despite challenges such as rising marketing costs due to privacy changes and a persistent talent shortage, the industry remains resilient through robust institutional support from organizations like Neogames and Suomen Pelinkehittäjät ry. This collaborative infrastructure, combined with a focus on original intellectual property and emerging technologies like Creative AI, ensures Finland’s continued influence on the global gaming landscape.
The Finnish game industry has transitioned from a hobbyist niche into the nation’s largest cultural export, maintaining an annual turnover exceeding €2 billion for six consecutive years. By 2020, the sector reached a turnover of €2.4 billion, driven by a maturing "middle class" of 46 studios generating over €1 million in annual revenue. While the total number of active studios decreased to approximately 200 due to global competition and regional funding shifts, employment reached a record 3,600 professionals. The industry demonstrates increased stability through a decreasing reliance on its largest player, Supercell, whose share of total turnover fell to 54% as other studios scaled. Geographically, the industry remains highly concentrated in the Capital Region, which accounts for 96% of turnover and nearly 80% of the workforce. However, vital regional hubs in Tampere, Oulu, and Turku provide specialized support through incubators and university programs. While mobile gaming remains the dominant sector—anchored by global giants like Rovio and Fingersoft—there is a notable shift toward a "post-mobile" era. This evolution is defined by growth in multiplatform console and PC development, led by studios such as Remedy Entertainment and Housemarque, as well as emerging interests in cloud gaming, the metaverse, and AI integration. The ecosystem is supported by a robust infrastructure, including over €150 million in R&D funding from Business Finland and a proactive private investment climate that attracted over €100 million between 2019 and 2020. Despite this strength, the industry faces challenges such as a global shortage of senior talent, increased protectionism in foreign markets, and platform volatility. Future growth is expected to stem from strong intellectual property, significant M&A activity, and a commitment to workforce diversity and social responsibility. The industry remains a resilient economic driver, characterized by high professional organization and a collaborative culture that sustains its status as a premier global hub for game development.
The Finnish game industry solidified its position as a cornerstone of the national economy in 2020, maintaining a turnover exceeding €2 billion for the sixth consecutive year. Despite a slight contraction in the total number of active studios to approximately 200, the sector experienced a maturation phase characterized by increased revenue stability and a rise in high-performing firms. With 46 studios now generating over €1 million annually and a collective net profit surpassing €500 million, the industry demonstrated remarkable resilience against the operational disruptions of the COVID-19 pandemic. This economic strength is supported by a workforce of 3,600 professionals, with a persistent demand for hundreds of additional hires, reflecting a healthy, expanding ecosystem. The industry is currently undergoing a strategic transformation driven by technological shifts toward cloud gaming, artificial intelligence, and Games as a Service models. While developers benefit from a robust network of public funding, private investment, and professional associations, they face mounting pressures from market consolidation, rising user acquisition costs, and regulatory fragmentation. To remain competitive in a saturated global market, Finnish studios are increasingly prioritizing data-driven design, social integration, and the development of strong intellectual property. This shift is accompanied by a positive trend in workforce diversification, with female representation reaching 22 percent. The Finnish landscape remains defined by a diverse array of entities, ranging from global mobile giants like Supercell and Rovio to specialized indie developers and B2B service providers. These companies successfully balance creative autonomy with sustainable business practices, leveraging both original IP and work-for-hire models. By integrating emerging roles such as content creators and streamers into the development lifecycle, the industry continues to evolve, ensuring that Finnish studios maintain their significant footprint in the global digital entertainment market through innovation in mobile, console, and emerging technology platforms.
Fingersoft • Ηill Climb Racing 2 Futureplay • Battlelands Royale Next Games • Τhe Walking Dead: Our World Rovio Εntertainment • Angry Birds 2 Small Giant Games • Εmpires & Puzzles Supercell • Brawl Stars, Clash Royale, Clash of Clans and Ηay Day Remedy Εntertainment • Control Rival Games • Τhief of Τhieves: Season One Superplus Games • Ηills of Steel Nitro Games • Ηeroes of Warland Κukouri Mobile Εntertainment • Pixel Worlds Publisher Neogames Finland ry (2019) 2.
Three ways to bring Finland to the forefront of the digital shift............. 3 More than half of Finns and nearly a third of the global population 4 play games actively............................................................................... The Finnish game industry 5 is the success story of the 21st century.....
• Ahlmannin koulun säätiö /Oriveden • Opisto • • Joutsenon Opisto • • Kauhajoen evankelinen opisto • • Laajasalon opisto • • Prakticum • • AEL Ammattienedistämislaitossäätiö • • Amiedu • • HEO Media • • Kouvolan seudun ammattiopisto • • Lybeckerin opisto ...
16 | The State of The Finnish Game Industry 22 | Location of Companies and Clusters 36 | Trends and Future / Platforms and Genres 43| Trends and Future / Industry Framework 48 | The Industry Support and Networks 49 | Suomen Pelinkehittäjät ry 55 | IGDA Finland ry 4 72 | Studio Profiles (separate file) ABOUT THIS REPORT Cities: Skylines have conquered the world, and well over a billion people FOR almost a decade, our game all over the globe...
17 | The Founding Years of Studios 29| Financial Outlook ob 40 | Finnish game developer studios assn. Fingersoft • Hill Climb Racing Rovio Entertainment • Angry Birds, Supercell • Clash of Clans, Hay Day Two Men and a Dog • Zombie Catchers THE OLDEST Finnish game companies still in existence are turning 20 this year (2015).