Gaming Revenue Increase For Australia: $345 Million Generated as 21% Increase Experienced

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Australia’s Gaming Industry: A Hidden Gem in the Global Market

The Australian gaming industry may not receive the same level of international recognition as that of the US, China, Japan, and the UK. However, recent data and earnings reports have shed light on the significant impact of gaming in Australia.

Booming Australian Video Game Market

According to the Australian Game Developer Survey (AGDS) and the Interactive Games & Entertainment Association (IGEA), Australia’s video game market reached $345.5 million, representing a 21% increase compared to the previous financial year. With a gaming culture deeply rooted among Australians, it’s no surprise that 81% of the population plays video games, and 94% of households own at least one gaming device.

Growing Trends in Australian Gaming

Australians’ love for gaming extends beyond traditional video games. The emergence of iGaming has brought about new opportunities and experiences, making it increasingly popular among Aussies. Players can easily search for gaming sites, ensure a positive experience, and secure bonuses using trusted resources.

iGaming’s Influence on the Australian Market

iGaming has claimed a significant position in Australia, although it doesn’t directly compete with the overall video game market. Despite being available only to those of legal age, 73% of adults have engaged in gambling activities in the past year, with an estimated 6.8 million Aussies identified as regular gamblers.

Factors Driving the Growth of Australia’s Video Game Industry

A combination of internal and external factors has contributed to the growth of Australia’s gaming industry. The Digital Games Tax Offset scheme has led to an increase in studios, with 51% hoping for funding and 49% already receiving financial assistance. The number of employed individuals in the sector has also grown, with a projected increase of over 200 jobs expected within the next year.

Geographical Distribution and Small Studios in Australia

Most game studios are located in Victoria (41%), with 29% of all studios based in the region. Queensland has 20% of game studios and 25% of full-time employees, while New South Wales houses 22% of studios but only 16% of the workforce. Over three-quarters (79%) of game studios have fewer than 20 employees, and nearly half have been operational for less than five years.

Challenges Facing the Australian Gaming Industry

Despite its growth, Australia’s gaming industry faces challenges such as limited access to funding and support. Some studios have struggled with securing the right talent, technologies, and publishers needed to expand their reach in the global market.

Future Prospects for Australia’s Gaming Industry

The Australian gaming industry continues to thrive with greater equality and diversity in hiring practices, ensuring an influx of new ideas. This trend was recently discussed by Geoff Keighley (Summer Game Fest creator) during the latest festival edition.

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