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Revenue generated by Australian studios has doubled since 2016

Revenue generated by Australian studios has doubled since 2016

The amount of revenue generated by Australian game developers has doubled in the last five years.

That's according to research released by the region's Interactive Games and Entertainment Association (IGEA) trade body, which reports that the country's studios have generated AU$226.5 million ($160.9 million) during 2021. Back in 2016, this figure was just AU$114 million ($81.2 million).

For the last three years, revenue generated by Australian studios has grown 20 per cent each year; between 2020 and 2021, the industry saw a 23 per cent growth. The number of people employed by the region's games industry also increased by seven per cent year-on-year and by more than 50 per cent since 2016.

IGEA also reports that 23 per cent of employees were cis female while 10 per cent were transgender, non-binary or gender diverse.

Earlier this year, Australia's government approved tax breaks for the country's games industry, something that IGEA CEO Ron Curry will help grow the sector. 

“The support from the Federal Government is the engine that will drive Australian video game development to become a billion-dollar industry,” he said.

“The local industry is poised to take advantage of the global growth in playing games and the realisation that games have provided a vital source of connection, enjoyment, education and wellbeing during the pandemic. We at the IGEA expect to see the video game industry contribute further to the Australian economy with the commitment to the provision of appropriate funding levers provided by all levels of government.

“While we congratulate the Government for introducing the DGTO, we continue to work with them to see the return of a fund similar to the cancelled Australian Game Development Fund, to garner support for our high potential independent development sector.”


PCGamesInsider Contributing Editor

Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site PCGamesInsider.biz. In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for GamesIndustry.biz, VGC, Games London, The Observer/Guardian and Esquire UK.

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