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 upwards of 95,000 individuals. These figures come from the European Video Game Industry Insights Report, a joint publication by the European Games Development Association (EGDF) and Video Games Europe (VGA).
The report, which reflects data collected throughout 2024, is compiled through a two‑stage process: each of the 28 EGDF member organisations first produces a national‑level analysis, after which the EGDF aggregates the individual submissions into a comprehensive European overview. While the overall talent pool across the continent appears to have hit a plateau, the sector’s structural capacity continued to expand. The number of active studios grew by somewhere between five and ten percent during the year, indicating that new enterprises are still entering the market despite a slowdown in hiring. Countries such as Finland, Italy and the Czech Republic displayed modest but steady increases in their employment figures, suggesting that local ecosystems remain conducive to new studio formation and incremental job creation.
Poland emerged as the clear leader in terms of workforce size and output. Polish developers and publishers together accounted for the largest share of employment in the EU gaming sector, and the nation also produced the highest number of new titles—450 releases over the course of the year.
The United Kingdom, another major hub, reported a workforce of 28,516 people, underscoring its continued relevance as a centre for both development and publishing activities. The 2024 edition of the report also marked the first inclusion of two previously unreported markets: Bulgaria and Cyprus. Cyprus, despite its relatively small population, generated €4.3 billion in turnover, earning the description of the "main game industry hub in terms of combined revenue" within the region.
Bulgaria, meanwhile, was highlighted as an "important regional hub surrounded by key European game industry talent" thanks to its proximity to talent pools in Romania and Türkiye, and its growing reputation as a supportive environment for studios seeking cost‑effective production bases. Commentary from the EGDF emphasized the mixed nature of the year’s results.
On the one hand, the data demonstrates that, even in the face of economic headwinds, several countries managed to boost both revenue and the number of operational studios, thereby lifting the aggregate European indicators. On the other hand, the report also documented a rise in layoffs, corporate consolidations, and a modest decline in employment in a handful of nations. This represents the first recorded dip in employment for the sector, signalling that while the overall market remains robust, certain regions are feeling the strain of tighter budgets and shifting consumer preferences. To put the 2024 numbers into a broader context, it is useful to compare them with previous years.
The €24 billion turnover represents a slight increase over the €22.5 billion recorded in 2023, indicating that revenue growth, though present, is modest. The studio count, now above 6,600, reflects a continuation of a long‑term trend that began in the early 2010s, when the European industry moved from a handful of large, legacy developers to a more fragmented landscape populated by numerous mid‑size and indie studios.
This diversification has helped the sector absorb shocks, as the loss of a single large publisher no longer has the same systemic impact it once did. Employment figures also tell an important story.
Surpassing the 95,000‑person mark for the first time suggests that the industry continues to be a significant employer across the continent, providing a wide range of roles from programming and art design to marketing, localisation and community management. However, the stagnation in talent pool growth points to a potential bottleneck: universities and vocational schools may need to adjust curricula to better align with the evolving technical and creative demands of modern game development, such as expertise in artificial‑intelligence‑driven gameplay, cross‑platform optimisation, and live‑service monetisation models.
The inclusion of Bulgaria and Cyprus signals a geographic broadening of the European gaming map. Both countries are benefitting from favorable tax regimes, government incentives, and growing local expertise, which together make them attractive destinations for both domestic startups and foreign subsidiaries looking to establish a foothold in the EU market while keeping operational costs manageable. Looking ahead, industry observers caution that the sector must address the twin challenges of talent retention and sustainable growth. While studio formation remains healthy, the slowdown in hiring suggests that many firms are focusing on efficiency and automation rather than expanding headcount.
Initiatives aimed at upskilling existing workers, fostering cross‑border collaboration, and encouraging investment in emerging technologies could help mitigate the risk of future employment dips. In summary, the 2024 European Video Game Industry Insights Report paints a picture of a resilient yet evolving market. Revenue has edged upward to €24 billion, the number of studios has risen to over 6,600, and employment now exceeds 95,000. At the same time, the sector faces headwinds in talent growth, occasional layoffs, and the need for strategic adaptation to maintain its upward trajectory across the diverse economies of Europe.