Australian games industry delivers 29 percent revenue growth despite COVID-19

The Australian games industry generated an estimated $184.6 million in revenue during the 2019-2020 fiscal year, delivering growth of 29 percent.

The Australian games industry generated an estimated $184.6 million ($141.9 million USD) in revenue during the 2019-2020 fiscal year (ended June 30, 2020), delivering growth of 29 percent year-over-year.

That's according to a developer survey conducted by the Interactive Games & Entertainment Association (IGEA), which was completed by 97 studios based in the region. 

The IGEA claims those numbers highlight the "resilience of the Australian video games industry," which seemed to not only weather the initial COVID-19 storm, but actually deliver significant revenue growth. 

"While the pandemic disrupted much of Australia’s workforce, the game development industry proved resilient by adapting easily to flexible and remote work environments and achieving positive financial results," wrote the IGEA. 

"The local industry employs at least 1,245 workers and contractors. 76 percent of survey respondents reported stable or increased revenue with 87 percent of the industry’s revenue coming from overseas markets, bringing in valuable export dollars."

The IGEA also highlighted the value of the games industry in creating and maintaining jobs, with 76 percent of respondents explaining they had no plans to take staff cutbacks, and 67 percent stating they intended to hire more staff in 2021. 

Despite those apparent successes, the IGEA called for the Australian government to deliver more funding and support to help unlock the "exponential growth" of the industry. 

"There is an immediate opportunity to create a $1 billion video game development industry in Australia and play an important part in reviving the Australian economy,” said IGEA chief exec, Ron Curry. 

"The Australian game development survey shows industry growth is much larger in states with government funding, like Victoria and South Australia, and these states are likely to see further expansion due to the increased support announced recently.

"The Australian government has an immediate opportunity to embrace video games as they drive growth and fuel our economy, by supporting an industry that has already delivered results and offers boundless creative and high-tech opportunities."

You can check out the full results of the survey right here.

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