Direct and indirect tax revenues generated by industry also on the rise

UK game industry employment at record high

The number of creative staff employed at studios across the UK reached a record high of 10,869 in 2014, according to new research.

The TIGA survey, with analysis by Games Investor Consulting, shows the total studio headcount across the country rose by nearly ten per cent from 9,896 the year prior.

The number of jobs indirectly supported by studios also rose from 18,093 to 19,872, another record.

Combined direct and indirect tax revenues generated tax revenues generated by the games industry increased to an all-time high of £460m. Annual investment by studios also rose from £458m to £503m.

The sector’s contribution to UK GDP meanwhile increased from £1bn to just over £1.1bn.

“The industry’s growth over the last year has been driven by three factors," said TIGA CEO Richard Wilson.

"Firstly, the increasing prevalence of mobile and tablet devices, the growth of PC gaming and the new console generation have combined to stimulate investment and job creation. Secondly, a rise in start-ups has been mirrored by an expansion amongst many existing studios. Thirdly, games tax relief (GTR), which TIGA played a critical role in achieving, is fuelling growth. GTR effectively reduces the cost and risk of games development and it incentivises investment and job creation in the games industry. GTR will create more jobs, more investment and more culturally British video games in the years ahead.”

“Our industry still faces challenges. Ten per cent of all studios closed down in 2014. Yet the UK games industry is growing. We now need to capitalise on this success by improving studios’ access to finance, promoting regional games clusters and continuing to enhance education and skills.”

About MCV Staff

Check Also

Immersive Arcade launches in September – looks to improve diversity in the sector – see it at our IRL event!

Free tour and online experience throughout September