The European video‑game market posted a total turnover of roughly €24 billion in the fiscal year 2024, and the ecosystem now comprises more than 6,600 development studios that collectively employ upwards of 95,000 individuals. These figures stem 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 gathered throughout 2024, follows a structured methodology: each of the 28 EGDF member organisations first prepares a national‑level analysis, after which the EGDF consolidates the individual submissions into a comprehensive European overview. While the overall size of the talent pool across Europe appears to have plateaued—signalling the first noticeable stagnation in employment growth for the sector—the number of active studios continued to expand, registering an increase somewhere between five and ten percent over the previous year.
This modest but steady rise in studio count was evident in several key markets. Finland, Italy and the Czech Republic, for example, all reported incremental gains in the number of companies operating in game development and publishing, alongside slight upticks in staff levels.
Such growth, albeit modest, suggests that new entrants are still finding viable niches within the European gaming landscape, even as larger firms grapple with restructuring and workforce reductions. Poland emerged as the clear leader in terms of employment, hosting the largest concentration of game‑development and publishing professionals within the European Union.
Polish studios also led the continent in output, releasing a total of 450 new titles during the reporting period—a benchmark that underscores the country’s robust production capacity and its role as a hub for both indie and mid‑scale projects. The United Kingdom, another heavyweight in the sector, reported a workforce of 28,516 individuals, placing it among the top three EU nations by staff count despite the post‑Brexit adjustments that have reshaped its industry dynamics. The 2024 edition of the report marked the first appearance of two additional markets: Bulgaria and Cyprus. Cyprus, despite its relatively small size, generated €4.3 billion in revenue and was highlighted as the principal revenue‑driven hub in the region, indicating a high concentration of high‑value activity relative to its population.
Bulgaria, on the other hand, was described as an important regional node that benefits from proximity to talent pools in neighboring Romania and Turkey, positioning it as a strategic bridge between Western European production centers and emerging Eastern European talent. EGDF officials interpreted the data as evidence that, despite a challenging macro‑economic environment, several European countries managed to sustain growth on both the revenue and studio‑count fronts. "The report demonstrates that despite challenging times, industry growth continued in several countries, in both revenue and the number of studios, lifting both indicators at the European level," the association remarked. However, the same commentary also acknowledged the darker side of the picture: layoffs, corporate consolidations and a general decline in employment levels led to a stagnation—and in a few cases, a slight contraction—of the workforce.
This represents the first recorded dip in employment for the sector, signaling that while the number of studios may be rising, the average size of those studios is shrinking in certain markets. To put these numbers into perspective, the €24 billion turnover translates to an average revenue of roughly €3.6 million per studio, though the distribution is highly uneven. Flagship publishers and large multinational studios contribute a disproportionate share of the total, while a growing number of micro‑studios and indie developers operate on tight budgets but add diversity and innovation to the market.
The rise in studio numbers therefore reflects a diversification trend: more small‑scale teams are entering the field, often focusing on niche genres, experimental gameplay mechanics, or cross‑platform experiences that larger studios may overlook. The report also highlighted several structural trends shaping the European gaming ecosystem.
First, the increasing importance of remote work and distributed development teams has allowed studios in smaller economies—such as Cyprus and Bulgaria—to tap into talent pools across borders without the need for large physical offices. Second, government incentives, tax credits and funding schemes remain pivotal in attracting investment and fostering local talent, especially in countries that have recently introduced or expanded such programs. Third, the growing emphasis on sustainability and ethical production practices is prompting studios to adopt more responsible hiring and development models, which could influence future employment trends. Looking ahead, industry analysts caution that the sector must address the employment dip to avoid a longer‑term talent shortage.
Initiatives aimed at upskilling the existing workforce, expanding vocational training programs, and encouraging collaboration between academia and industry are seen as essential steps. Moreover, the continued success of emerging hubs like Cyprus and Bulgaria will likely depend on their ability to retain talent, foster a supportive business environment, and maintain strong links with the broader European market. In summary, the European games industry in 2024 showcased a mixed but overall positive picture: a solid €24 billion in turnover, a record number of studios surpassing 6,600, and a workforce that, while slightly stalled in growth, still numbers more than 95,000 professionals.
The data underscores both the resilience of the sector and the challenges it faces, offering a roadmap for policymakers, investors and developers who wish to sustain and accelerate growth across the continent.