72% of survey respondents plan to grow their workforce in 2016
LONDON, January 5, 2016 /PRNewswire/ — TIGA, the network for games developers and digital publishers and the trade association representing the games industry, said today that the UK video games industry was set to increase investment and expand employment in 2016. TIGA made the comments in its latest Business Opinion Survey 2015/16. The report was based on a survey of 52 games businesses including small, medium and large firms, developing games across mobile/tablet, PC and console.
TIGA’s Business Opinion Survey 2015/16 includes the following key findings:
- 60% of respondents plan to grow their organisation’s workforce a little over the next year. 12 per cent expect their workforce to grow a lot.
- 54% of respondents to the TIGA survey said that the outlook for investment in their business (for example, in R&D, training, new games development, etc) was more optimistic than compared to 12 months ago.
- 66% of respondents to the TIGA survey forecast that the trend in their company’s net profits over the next 12 months would be up.
- 67% of respondents reported that their company was performing either ‘very well’ or ‘well’.
- 46% of the respondents to the TIGA survey said that the principal obstacle holding back their businesses was limited access to finance.
- 56% of respondents anticipate that their company’s costs are likely to increase over the next 12 months.
- 38% of games businesses in our survey expect that their prices will increase over the next 12 months.
- 63% of respondents to the TIGA survey believe that the economic and business environment in the UK is favourable to the video games industry.
Dr Richard Wilson, TIGA CEO, said:
“The UK video games development and digital publishing sector is set to grow in 2016. Our survey shows that games businesses are planning to increase investment and employment. This growth is being driven by three factors.
Firstly, the consumer market for games is significant and growing. Already games are played in 70% of households, and over 50% of all UK adults are mobile gamers.
Secondly, the increasing prevalence of mobile and tablet devices, the new console generation, and the advent of Virtual Reality and Augmented Reality are stimulating investment in games.
Thirdly, Video Games Tax Relief, which TIGA played a critical role in achieving, is fuelling growth. Games Tax Relief effectively reduces the cost and risk of games development and it incentivises investment and job creation in the games industry. Games Tax Relief is predicted to create 2,700 new development jobs and £320 million in investment over the next five years.”
Jason Kingsley OBE, TIGA Chairman and CEO and Creative Director at Rebellion, said:
“2016 is set to be another good year for the UK video games industry. There are new start-ups, existing firms are expanding and new technologies are boosting innovation and growth in the sector. I am particularly pleased that Video Games Tax Relief, a measure that TIGA consistently campaigned for over many years, is having a positive impact on growth in our sector.”
TIGA is 90% funded by independent UK businesses. 80% of our board members are developers and/or from UK owned businesses, and 50% of our board are UK business owners themselves. Since 2010, TIGA has won 24 business awards and commendations.
TIGA focuses on three sets of activities:
- Political representation
- Media representation
- Business services
This enhances the competitiveness of our members by providing benefits that make a material difference to their businesses, including a reduction in costs and improved commercial opportunities. It also means our members’ voices are heard in the corridors of power and positively represented in national, broadcast and UK video game trade media.