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Classified in: Science and technology
Subject: SVY

TIGA Research Shows UK Games Developers Investing in Employment Despite Rising Costs

LONDON, Jan. 31, 2023 /PRNewswire/ -- TIGA, the trade association representing the video games industry, released a Business Opinion Survey (BOS) today which shows that while 86 per cent of respondents expect that their costs will rise in 2023, 75 per cent plan to grow their organisation's workforce over the year.  TIGA's research was carried out in December 2022 and January 2023. The survey is based upon a sample of 36 games businesses including small, medium and large firms, developing games across mobile/tablet, VR, PC and console. 

TIGA's Business Opinion Survey 2022-23 includes the following key findings:

Dr Richard Wilson OBE, TIGA CEO, said:

"The UK video games development and digital publishing sector is operating in an inflationary environment which is increasing businesses' costs and dampening both consumers' and businesses' discretionary expenditure.  86 per cent of respondents to our survey expect that their costs will rise in 2023. Only 40 per cent of respondents are more optimistic about the outlook for investment in their business compared to 12 months ago, while 30 per cent are less optimistic.

"Nevertheless, 75 per cent of respondents to our survey plan to increase employment over the coming year and 75 per cent report that their company is performing either 'very well' or 'well'.

"The Government can reinforce the sector's growth by taking three actions. Firstly, enhance Video Games Tax Relief (VGTR) to encourage investment in the industry. Secondly, introduce a Video Games Investment Fund (VGIF) to improve studios' access to finance. The VGIF would provide funding of up to £500,000 available to games businesses on a matched funding basis. Thirdly, promote training in the sector via a Skills Investment Fund and introduce an Industrial Secondments Programme to strengthen skills development in video games education."

About TIGA:

TIGA is the trade association for the UK video games industry.  Our vision is to make the UK the best place in the world to develop video games. Our core purpose is to strengthen the games development and digital publishing sector. To this end, we focus on three strategic objectives:

For more information contact TIGA:

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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News published on 31 january 2023 at 10:58 and distributed by: