Today, TIGA, a trade association representing UK's video game industry, released a Business Opinion Survey that shows that it's well on its way to growth.
The survey was done at the end of 2019, with 57 game businesses covered, ranging from small, medium, and large firms. The range of development also differs, going from mobile/tablet to VR (Virtual Reality), PC, and consoles. So, with that out of the way, let's get to those raw and juicy statistics:
Of these 57 businesses, 75% (down 2% from last year) of them plan on growing their organization's workforce, 21% plan on keeping their workforce the same, and 4% think that their workforce will diminish.
65% of respondents think that the overall economic and business environment within the UK is favorable to the games industry (up 62 percent from a year ago), while 25% are neutral and 11% feel that it is unfavorable.
29% of respondents feel more optimistic about investing in the industry (down 23% from a year ago), while 56% said their outlook was unchanged and 15% were less optimistic overall.
61% of respondents stated that their company was performing well (down 16% from a year ago), while 32% were neutral and 7% said that their company was performing badly.
37% of respondents are now more optimistic about their company's prospects (down 20% from a year ago), while 40% were neutral and 21% were less optimistic. 2% of respondents did not know.
39% of respondents stated that their limited monies were holding them back, 36% stated that discoverability was their main obstacle, 20% didn't like the skills shortages and gaps within their company, 2% pointed out that it's hard to stand out in a competitive market, 2% didn't like the UK's stance on future immigration policy, and 2% didn't like the slow growth in the VR market.
Jason Kingsley OBE, TIGA Chairman, and CEO and Creative Director at Rebellion had a lot to say on the results of the survey:
“2020 is set to be an encouraging year for our industry. We expect to see more start-ups, growth and innovation the sector. We can strengthen our industry still further by improving access to finance and skills and establishing a migration policy post-Brexit that is favourable to economic expansion. TIGA looks forward to working with the Government in 2020 to ensure our industry’s growth, success and prosperity.”
For more information on TIGA, be sure to go here.
What do you think of this survey? Let us know in the comments!