The European video‑game market posted a combined revenue of €24 billion in 2024, supported by more than 6,600 development studios that together employ over 95,000 individuals. These figures come from the European Video Game Industry Insights Report, a collaborative publication by the European Games Development Association (EGDF) and Video Games Europe (VGA). The report captures the state of the industry for the calendar year 2024, reflecting data that were compiled after each of the 28 EGDF member organisations submitted their national statistics, which were then merged into a single European overview. While the overall talent pool across Europe has shown signs of stagnation – the rate of new hires and the expansion of the workforce has essentially flat‑lined – the number of active studios has continued to rise.
According to the report, the total count of game‑making companies grew by between five and ten percent during 2024. This modest yet steady increase suggests that, despite a tougher hiring environment, entrepreneurs and investors remain confident enough to launch new ventures or expand existing ones. Countries such as Finland, Italy, and the Czech Republic exemplified this trend, each reporting incremental growth in the number of people employed within their domestic game sectors. Poland emerged as the clear leader in terms of sheer employment numbers.
Polish studios collectively employed the largest share of the European game‑development workforce, and the country also topped the list for the number of new titles released, with 450 fresh releases recorded over the year. The United Kingdom, another heavyweight in the market, reported a workforce of 28,516 professionals, underscoring its continued relevance as a hub for both development and publishing activities. The 2024 edition of the report also marked the first inclusion of two smaller markets: Bulgaria and Cyprus. Cyprus, despite its relatively modest size, generated €4.3 billion in turnover, a figure that positioned it as the primary revenue hub among the newly added economies.
The report described Cyprus as the "main game industry hub in terms of combined revenue," highlighting its outsized contribution relative to its population. Bulgaria, on the other hand, was recognised for its strategic location and talent pool, being labelled an "important regional hub surrounded by key European game industry talent" from neighbouring Romania and Türkiye. This acknowledgement points to Bulgaria’s growing role as a conduit for cross‑border collaboration and talent exchange within the region. The EGDF emphasized that the data illustrate a nuanced picture of resilience and challenge.
On the one hand, several nations recorded growth in both revenue and the number of operational studios, indicating that the sector is still capable of expanding its economic footprint even under uncertain macro‑economic conditions. On the other hand, the report also documented a wave of layoffs, corporate consolidations, and a slight decline in employment figures in certain markets. For the first time since systematic tracking began, some countries experienced a marginal dip in the total number of people employed in game development and publishing. This contraction reflects broader industry pressures, such as rising development costs, shifting consumer preferences, and the impact of global economic headwinds.
In addition to the headline numbers, the report provides deeper insight into the structural shifts shaping the European landscape. The rise in studio count, despite a flattening talent base, suggests that many companies are opting for leaner, more specialised teams, often leveraging remote work, outsourcing, and cross‑border partnerships to access the expertise they need without expanding permanent headcount. Moreover, the emergence of new regional hubs like Cyprus and Bulgaria indicates that investment is diffusing beyond the traditional powerhouses of the UK, France, and Germany, creating a more geographically diverse ecosystem.
Looking ahead, industry observers note that the sector’s future will likely hinge on how effectively it can balance the need for talent acquisition with the realities of a tightening labour market. Initiatives aimed at upskilling, education, and cross‑industry mobility will be crucial to sustain growth. At the same time, policy makers across Europe are being called upon to consider supportive measures—such as tax incentives, funding programmes, and regulatory frameworks—that can help mitigate the impact of layoffs and encourage sustainable studio formation.
Overall, the 2024 European Video Game Industry Insights Report paints a picture of an industry that, while confronting notable headwinds, continues to generate significant economic value and to expand its creative footprint across the continent. The combination of robust revenue, a growing number of studios, and the emergence of new regional hubs underscores the sector’s adaptability and its potential for continued contribution to Europe’s digital economy.