Gaming Revenue Increase For Australia: $345 Million Generated as 21% Increase Experienced

It is possible to argue that Australia’s gaming industry does not receive the same kind of attention or global respect and appreciation that it perhaps should. The industry is usually dominated by the US, China, Japan, and the UK, but recent results only highlight the impact that the Land Down Under has on the gaming world.

According to new findings and earnings reports, the Australian video game market had risen to $345.5 million, an increase of 21% on the results published for the financial year of 2022. This was data found from the Australian Game Developer Survey (AGDS), which has since been corroborated with the eighth survey that was completed by the Interactive Games & Entertainment Association (IGEA).

Australia’s Gaming Culture

The figures highlight its growth, but it isn’t something that is all too surprising. Australia has a gaming culture, with residents enjoying this pastime in the masses. According to reports, 81% of Australians play video games, with 94% of households nationwide having at least one gaming device. The number of female players is also up, as they account for 48% of the total market, while the average age of a gamer is 35 years old.

It is not just traditional video games that are enjoyed by Aussies, as they have an affinity for all types of games. Online and mobile gaming has taken off across Aus, which has led to a different type of experience for many, and one that they have continued to engage with. iGaming has been one niche that has benefited from this rise, with players now able to use their smartphone to enjoy these games when it is convenient.

They are able to search for terms that can bring up results providing them with a resource that has the sites offering the best online pokies in Australia for real money whenever they want. They can obtain bonuses and ensure a positive experience as the site has been tested and reviewed by trusted experts.

iGaming has enjoyed a solid position in the Australian gaming market, although it does not compete with the overall video game market. Despite the fact that it is only available to persons of a legal age, 73% of adults have participated in gambling activities at least once in the past year, with 6.8 million Aussies estimated to be regular gamblers.

What has helped Australia’s video game market grow exponentially?

Australia’s video game market has been able to grow due to a variety of different factors. As mentioned, there have been increases in certain figures, such as the number of households with gaming devices and female players, but there have been external influences that have helped increase the industry domestically.

The Digital Games Tax Offset scheme has seen a growth in the number of studios, with the government’s support helping these firms to get a stranglehold on the industry and give them the best opportunity to thrive in a competitive market. 51% of the 111 studios that were surveyed have been hoping to secure funding once they apply, while 49% are already receiving financial assistance.

There has been an upturn in the number of people employed in the sector, too. An increase of 17% has been obtained on the figures of last year in terms of full-time employees, with 2,458 people in roles. However, this number is expected to significantly increase over the next 12 months, as 63% of studios are expecting to hire more staff during the financial year of 2024. This would be an increase of more than 200 jobs.

Victoria is the state in which most are employed, with the region accounting for 41% of the national workforce. They account for almost a third (29%) of all game studios in the country. Queensland has 20% of game studios but also accounts for 25% of full-time employees, whereas New South Wales has 22% of game studios based in its region, but just 16% of the workforce.

What is more impressive about these numbers is that 79% of the game studios have fewer than 20 employees, while 45% of them have been in existence for less than five years. This helps to highlight the growth that the Australian market has experienced in terms of its video game output.

Challenges have been experienced but a positive outcome still expected

Australia’s gaming market has not been without its challenges. Funding and support can be difficult to access at times, which has led some studios to feel its impact. They also have challenges that can include accessing the right talent, technologies, and publishers to take their games into the global market.
However, there have been many other aspects that have ensured the games industry in Australia has a bright future. There has been a greater degree of equality and diversity being experienced in terms of hiring, which could help bring new ideas to the table and help the sector to thrive in the future. This has been something that has been widely criticised, with Geoff Keighley (Summer Game Fest creator) spoke about it recently at the latest edition of the festival.