London is the biggest consumer market for games in Europe. With a new £10.7 million investment currently underway, it looks like it’s about to grow even more. Investments like this will help to put London on the map as a game development hub, while ensuring that there is a constant influx of new jobs for budding developers who want to enter the thriving sector.
The Gaming Sector Is Currently Experiencing Worldwide Growth
Revenue in the worldwide games market is projected to reach US$522.46bn in 2025. Although new games hitting the market have helped to contribute to this, franchises also have a big part to play, especially within the puzzle genre.
This trend is also evident in other subsectors, including iGaming. The sector is experiencing a CAGR rate of 3.64% right now, with successful games generating several sequels. Take Big Bass Day at the Races for example. This is one of 34 games within the franchise and combines the theme of horse racing with several elements from the other iconic games within the collection. It uses a tried-and-tested format, with a new and fresh approach. Examples like this show how much the gaming sector is growing, and for cities like London, there are a lot of opportunities to be had, as the city is quickly cementing itself as the gaming capital of the world.
A Huge Boost for the London Entertainment Sector
It’s not just gaming that stands to benefit from the new investment either. City Hall projects are going to leverage more than £2.5bn in film investments, as detailed by Screen Global Production, over the next four years. The package comes as London is looking to emerge as a cultural hub once more, after numerous economic setbacks. The Deputy Mayor has also released a statement that some tough choices had to be made, but at the same time, they are still doing what they can to show their commitment to the UK’s creative sectors, and how culture is not an optional extra for London’s economy. With one out of every five jobs being within the creative sector, investments like this are beneficial for the city.
London is also home to numerous music venues, as well as game development studios and film production centres. Places like this are going to benefit quite a lot from the investment, showcasing what potential there is within the city, and how committed the Mayor is to injecting money into the already thriving sector.
This investment isn’t just about supporting bigger companies either, it’s about nurturing independent developers who may be struggling to get off the ground. Moves like this could well help to support the next generation of game creators, giving them the tools they need to succeed in a competitive environment while solidifying London as a hub that attracts global talent.
The influx of extra capital is also helping to provide more resources to smaller studios, allowing them to grow beyond their current limitations, as well as bringing new and diverse ideas to the sector which will spur growth even more as time goes on.
