Last year, $ 4 billion was spent on video games and consoles, according to a new report.
The latest data from the Interactive Gaming and Entertainment Association (IGEA) shows that Australians play more than ever.
Mobile games were the most popular, surpassing $ 1.5 billion in online sales nationwide.
Consumers, understandably, went crazy for video games during the COVID-19 blockades. While some of the data in the latest IGEA report reflects this, our portfolios are well on their way to working just as hard, if not harder, in 2022.
“We’d like a crystal ball,” IGEA CEO Ron Curry said.
“Newzoo (gaming market analysts) says the industry will have a (compound annual growth rate) of 8.7% by 2024, so if Australia follows global trends, our sales will also be on the rise .
“Playing games provided a continuing source of connection and entertainment for Australians for another year of the pandemic.”
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75 per cent of Australians play. Whether it’s on a game console, a computer, or a cell phone.
“All the data confirms that gaming is one of the most powerful means of entertainment in the world, and it looks like this will continue,” Curry said.
Most of the money invested in video games in Australia goes abroad.
Curry said Australian gaming studios, which are expected to benefit from a 30% tax cut on digital gaming, needed support to grow the Australian land economy.
“In addition, Screen Australia also offers grants to small studios,” he said.
“Most state governments have increased and offered discounts and subsidies to help create a thriving gaming development ecosystem.”
Ron Curry, CEO of IGEA (IGEA)
Curry said one of the biggest challenges facing gaming studios was finding experienced developers.
“The average talent … is in demand globally, not just in our industry, but also in technology as a whole,” he said.
The most anticipated video games of 2022 and later
“We need an agile and purposeful migration scheme for its purpose to complement local talent to encourage more income and local employment.”