19 December 2024 – Results released today show that reported revenue in the Australian video game industry remained steady in FY2024 at AUD$339.1 million. Reported revenue in 2023 was AUD$345.5 million. The results are part of the ninth annual Australian Game Developer Survey (AGDS) Snapshot, released by the Interactive Games & Entertainment Association (IGEA), the peak industry body representing the Australian video games industry.
2024 was a challenging year for game development globally, with local studios not immune from those challenges. Staff reductions locally were offset by medium to larger studios expanding their headcount. As a result, full-time employment at the 137 Australian video game studios surveyed was stable at 2,465 (+0.3% from 2023). Encouragingly, 61% of studios indicated they are planning to hire in 2025.
“This year has shown the local games sector continues to build capability in the face of global headwinds. 93% of the revenue generated in Australia comes from overseas sources, highlighting the popularity of Australian-made games to a global audience,” said Ron Curry, CEO of IGEA. “Generous and globally competitive tax rebates plus direct funding from the federal and state governments continues to ensure Australian game developers can deliver amazing game projects. 25% of our survey respondents accessed the Digital Games Tax Offset last year, and just under 40% intend to do so this financial year. We must maintain this level of support to ensure the local industry continues to grow and contribute to Australia’s creative and digital exports.”
The Australian games ecosystem is a fairly mature mix of different-sized businesses. Government support appears to be encouraging new studios to open, while also allowing established studios to grow. 56% of studios surveyed were less than five years old and 25% have been making games for ten or more years.
Victoria continues to be a popular hub for game development with 52% of game studio head offices located in the state. However, the distribution of employees shows many studios have a presence in more than one state and tend to follow talent and incentives across the country. 82% of workers are located on the east coast (36% Victoria, 27% Queensland, 18% New South Wales, 1% ACT), with WA seeing the highest employee growth, jumping from 3% to 6% this year.
“Many of the challenges facing Australian studios this year carried over from 2023,” said Curry. “Securing international and local publisher deals is proving difficult for developers, as is accessing early-stage funding. With that said, outlooks are positive for 2025. 81% of the studios we surveyed predicted income growth (53%) or stability (28%) in the new year.”
“The breadth of products showcased from across the country at the Australian Game Developer Awards in October celebrated the people and teams producing world-class games locally. IGEA will continue to support and advocate for Australian studios to ensure they’re equipped with the tools and resources to successfully deliver games projects in the future.”
About IGEA
IGEA (Interactive Games & Entertainment Association) is the peak industry association representing the voice of Australian and New Zealand companies in the computer and video games industry. IGEA supports the games industry’s business and public policy interests through advocacy, research and education programs. For more information, please visit https://igea.net/.
About Australian Game Developer Survey
Our FY2024 game development survey is based on financial year data from 1 July 2023 – 30 June 2024. The survey was conducted by Bond University which supplies responses in aggregate to IGEA. The survey opened in October 2024 and closed at the end of November 2024. Participation in the survey is voluntary, with 137 studios completing the survey and providing usable data, which is slightly higher than the participation rate last year of 111 studios.
