Adam Boyes: Navigating the Realities of the Gaming Industry

The gaming industry is currently facing a challenging period, with economic recession and layoffs affecting many studios. According to Adam Boyes, co-CEO of Iron Galaxy Studios, this is a daunting time for everyone involved. However, he believes that the industry has learned to be resilient, particularly during the COVID-19 pandemic, when many people turned to gaming for entertainment. Boyes notes that the current market conditions are a result of an overcorrection, which is negatively impacting many people. Despite this, he is determined to move forward and ensure the stability of Iron Galaxy. The studio's business model, which involves working on various franchises and products with different partners, helps to create a support system that provides stability. Boyes uses the example of Rumbleverse, a game that was shut down in 2023, to illustrate how the studio adapts to changes in the market. He explains that the studio has many partners and can redeploy developers to work on other projects. The demand for gaming is still high, and Boyes believes that the industry will bounce back. However, he acknowledges that the current economy presents challenges, and the studio must be prepared to navigate these conditions. Boyes regularly discusses the studio's position in the market with employees, providing transparency and addressing concerns. He believes that it is essential to be open and honest about the realities of the industry, rather than trying to hide from them. The studio's goal is to fulfill the needs of its partners and provide a safe and stable environment for its employees. Boyes notes that the current market conditions are affecting the entire industry, and many studios are facing similar challenges. He believes that it is essential to understand the reasons behind these challenges and to be prepared to adapt to changing circumstances. The studio's business model is designed to be flexible, and Boyes is confident that Iron Galaxy can navigate the current market conditions and emerge stronger. He acknowledges that the state of the economy and the resulting layoffs are points of contention, but he believes that the industry will recover. Boyes is committed to ensuring that Iron Galaxy remains a stable and secure place for its employees, and he is hopeful that the studio will continue to thrive in the future.