The Australian Games Industry's Path to Recovery and Growth

The 2023 Melbourne International Games Week marked a significant milestone for the Australian games industry, with a record number of events and attendees. The event's success was fueled by a AU$2 million funding boost for the expansion of MIGW, as part of a larger AU$5.25 million investment in the state of Victoria's games industry. This investment has enabled the industry to grow, with over 405 companies now employing more than 2,100 full-time staff and generating AU$284 million in revenue last year. However, despite this growth, the industry still faces challenges such as funding, recruitment, and retention of top talent. The introduction of the Digital Games Tax Offset (DGTO) has provided a significant boost to the industry, but more work is needed to support small and large teams, as well as to address the skills gap and geographical location challenges. Industry experts believe that Australia's unique creative space, driven by its distance from major gaming hubs, has fostered a collaborative and innovative culture, with many successful titles emerging in recent years. As the industry continues to grow, it is likely to attract the attention of major investors, with opportunities for founder-led studios and overseas investment. With the right support and funding, the Australian games industry is poised to become a major player in the global market.