167 games have been given the nod for Video Games Tax Relief in the year ending September 2016.
That's 117 per cent up on the previous year. UKIE added that the total UK/EEA spend on these projects hit 253.1m – that's a 686 per cent year-on-year increase. The budget for the selected games was up 933 per cent at 350.2m.
The trend looks likely to continue, too. Between Q1 and Q3 of 2016 there have been 128 successful applications. That's not far off to the 152 that were approved in the two years between April 2014 and May 2016.
These stats clearly show what a huge boost the Video Games Tax Relief is to the UK games sector,” UK CEO Jo Twist said. The incredible year-on-year increase in certifications proves that the support has become a critical driver for growth in the industry, and we are pleased to see the variety of budgets from big to small benefiting.
This is a clear signal to government that the continuation of the VGTR in a post-referendum world is critical to our sector in order to remain competitive globally.”