26 January 2021 – An EY&GESAC study maps the shock waves of the COVID-19 crisis in European creative and cultural industries. The video games industry seems to be the only one to hold up, with revenues expected to increase by 9% in 2020.
Already before the COVID 19 crisis, the video games markets experienced a growth of 5.8% per year between 2013 and 2019, thus more than doubling its turnover in six years. Contrary to many other creative and cultural industries, the sector has relied on the strong growth of its online activity, particularly in the main European markets (+155% in France, the UK, Germany and Spain combined).
“Games are the key cultural technique of our time. They are the leading architects of Europe’s digital cultural heritage and the pathfinder of humanity’s digital future. Step by step, the industry converges physical and virtual reality through mainstreaming novel technologies, innovative business models and groundbreaking artistic content that are and can be used across the European society from democracy building to education. By constantly experimenting with advanced remote working practices and fully digital distribution models, the industry is paving the way for pandemic resistant digital growth and jobs.”, commented Hendrik Lesser, president of EGDF.
EGDF has begun early in the pandemic to map its impact on game development studios in Europe. While specifically big and established companies with a focus on multiplayer and free-to-play titles and strong financial reserves have managed to benefit in the crisis, many micro, small and medium-sized enterprises are struggling. Canceled business events, missing funding opportunities, limited recruitment possibilities and unfavorable timing in production cycles have pushed many game development studios to the edge of bankruptcy. Therefore, well-directed and flexible public support schemes that enable sustainable growth are vital for the European games development industry and entrepreneurs alike.
“Currently, public support for video games productions is often insufficient, especially in many Central and Eastern European countries. We are now at a decisive point in history. When EU member states invest in rebuilding a more resilient economy after the pandemic, it is time for them to invest in building the future through utilizing the full potential of the games industry“, Lesser continued.
The full study can be downloaded from here: https://authorsocieties.eu/launch-of-rebuilding-europe-eyxgesac-study/
ABOUT EGDF – Uniting the European game dev industry
The European Games Developer Federation e.f. (EGDF) unites national trade associations representing game developer studios based in 19 European countries: Austria (PGDA), Belgium (FLEGA), Czechia (GDACZ), Denmark (Producentforeningen), Finland (Suomen pelinkehittäjät), France (SNJV), Germany (GAME), Italy (IIDEA), Malta (MVGSA), Netherlands (DGA), Norway (Produsentforeningen), Poland (PGA), Romania (RGDA), Serbia (SGA), Spain (DEV), Sweden (Spelplan-ASGD), Slovakia (SGDA), Turkey (TOGED) and the United Kingdom (TIGA). Altogether, through its members, EGDF represents more than 2 500 game developer studios, most of them SMEs, employing more than 35 000 people.
For more information, please contact:
Jari-Pekka Kaleva, Managing Director, European Games Developer Federation (EGDF)
+358 40 716 3640 | jari-pekka.kaleva(a)egdf.eu | www: www.egdf.eu