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TIGA Research Reveals UK Video Games Industry Has Been Expanding At Fastest Rate Ever Recorded


News provided by

TIGA

18 Oct, 2020, 23:01 GMT

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LONDON, Oct. 19, 2020 /PRNewswire/ -- TIGA, the trade association representing the UK video games industry, released new research today which shows that the UK video games development sector not only grew to record levels in 2019-20, but did so at the fastest annualised rate since this research was first conducted in 2007/8. The UK's games developer headcount grew to 16,836 by April 2020, representing an annualised growth rate of 12.2 per cent. However, many studios still struggle to scale up, access finance and skilled staff. If the Government can address these challenges then the sector has the potential to grow even faster and support economic growth throughout the UK.

The findings come from TIGA's definitive forthcoming annual report into the state and health of the UK video games industry Making Games in the UK Today (TIGA, 2020). This report is based on an extensive survey of UK games businesses, with analysis by Games Investor Consulting.

TIGA's research shows that in the period from November 2018 to April 2020:

  • the number of creative staff in studios surged by an annualised rate of 12.2 per cent from 14,353 to 16,836 full-time and full-time equivalent staff. This is the fastest rate that the UK industry has experienced since this research programme began in 2007/8;
  • the total games development workforce, including contractors, grew from 16,532 to 18,279, a record high;
  • the number of jobs indirectly supported by studios rose from 26,241 to 30,781;
  • the total studio population grew from 812 to 1,041;
  • combined direct and indirect tax revenues generated by the sector for the Treasury are estimated to have increased from £747 million to £907 million;
  • annual investment by studios rose from £818 million to £993 million; and
  • the game development sector's annual contribution to UK Gross Domestic Product increased from £1.8 billion to £2.2 billion.

Dr Richard Wilson, OBE, TIGA CEO, commented:

"The UK video games development sector is growing at an annualised rate of 12.2 per cent. This is the fastest rate that the UK industry has experienced since our research began in 2007-08.

"A number of forces are driving growth in our industry. Firstly, the UK is one of the finest games development centres globally, with outstanding small, medium and large studios creating content that sell all over the world. The industry is supported by many excellent universities which educate and prepare highly skilled graduates for work in the sector.

"Secondly, the global market for video games is growing. There is strong consumer demand for mobile, PC and console games, which in turn is helping to drive growth in the UK video games sector. For example, research from Unity comparing global mobile and PC games usage for the period January-May 2020 with the equivalent period in 2019 showed a 46 per cent increase in daily PC gaming and a 17 per cent increase in daily mobile gaming during the lockdown.

"Thirdly, Video Games Tax Relief (VGTR) is enabling our sector to grow strongly. TIGA played a critical role in the long battle to win VGTR, which effectively reduces the cost and risk of games development and is incentivising investment and job creation in the games industry. There is a clear connection between the introduction of VGTR and employment growth in the UK games development sector. The UK games industry declined by an annual average of 3.1 per cent between 2008 and 2011, before VGTR existed. Since VGTR has been available, the average annual growth rate has been 8.9 per cent.

"The sector still faces significant challenges, particularly with respect in access to finance and in access to highly skilled people. Many studios continue to struggle to scale-up: 73 per cent of the UK's studio population are micro studios (i.e. studios with four or fewer full-time staff). Many studios close down: over the last ten years, 40 per cent of all the studios that existed have closed.

"We should retain and enhance Video Games Tax Relief to encourage investment into the sector. We should introduce a Video Games Investment Fund and strengthen the UK Games Fund to improve access to finance. We should continue to strengthen industry-university links, enhance skils and training and enable UK games companies to recruit highly skilled workers from the EU and beyond. This will enble our sector to increase employment, increase investment and increase exports."

Jason Kingsley OBE, TIGA Chairman and CEO and Creative Director at Rebellion, said:

"As our economy recovers, we need to play to our strengths and invest in those sectors of the economy where we have a comparative advantage like the video games industry. We can reinforce our success by retaining and enhancing Video Games Tax Relief, establishing a Video Games Investment Fund to improve studios' access to finance, continuing to strengthen education and skills and enabling studios to access highly skilled people from overseas."

Notes to editors

Research methodology

Games Investor Consulting in conjunction with TIGA and its partners conducted surveys concluding in July 2008, September 2010, November 2011, December 2012, December 2013, December 2014, March 2016, November 2017, November 2018 and April 2020 of all known British games companies involved in the creation of games (including developers, publishers, publisher studios, service companies and broadcasters with games divisions) The survey counts staff working in development and development support roles in games studios, games publishers, service companies, broadcasters, charities and grant schemes. A broad array of additional data is also captured including studio location, primary platform focus and company ownership structure as well as company start-ups and exits/closures.

Consumer demand

There is strong consumer demand for games. For example, NPD reported that May 2020 saw a 52 per cent year-on-year increase in retail games software and hardware sales in the USA, reaching a 12-year high of $977 million.

About TIGA

TIGA is the network for games developers and digital publishers and the trade association representing the video games industry. Since 2010, TIGA has won 28 business awards and commendations and has been successfully accredited as an Investors in People organisation four times. TIGA focuses on four sets of activities:

  1. Political representation
  2. Media representation
  3. University accreditation and recognising excellent employment practices via the TIGA STAR
  4. Membership services

This enhances the competitiveness of our members by providing benefits that make a material difference to their businesses, including a reduction in costs and improved commercial opportunities. It also means our members' voices are heard in the corridors of power and positively represented in national, broadcast and UK video games trade media.

Get in touch:
Tel: +44-(0)845-468-2330
Email: info@tiga.org 
Web: www.tiga.org
Twitter: www.twitter.com/tigamovement
Facebook: www.facebook.com/TIGAMovement
LinkedIn: http://www.linkedin.com/company/tiga 

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