SGA: The Serbian gaming industry doubled its workforce in 2023
Serbia became a great spot for relocation.
The study covers 80% of association representatives. Financial indicators represent the status of the country's top 21 companies.
Overall figures
In 2023, the top 15 Serbian companies earned over €175 million in revenue (+17% YoY).
By the end of 2023, there were over 150 gaming companies and teams in the country.
Around 4300 gaming industry professionals reside in Serbia, with one-third of them being women. Moreover, half of the management in Serbian companies are female.
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In 2023, Serbian companies released 30 projects, with 81 in development. PC remains the primary revenue platform.
Revenue
The main markets for Serbian companies are the USA, Europe, and the UK.
46% of Serbian companies earn 100% of their revenue abroad, with 16% having no revenue sources outside Serbia.
34% of the total revenue volume comes from PC projects, 32% from the mobile segment, and 28% from various services.
Business in Serbia
Most gaming studios are located in Belgrade (75) and Novi Sad (27).
57% are developers working on their IP, 11% are outsourcers, 7% are art outsourcers, and 6% develop their own technological solutions.
33% of companies represented in Serbia have branches abroad.
82% of Serbian teams consist of up to 20 people.
Games from Serbian companies
In 2023, Serbian studios released 6 mobile and 24 PC/console games. Action, adventure, and RPG are the three most popular genres.
41% of projects are distributed with the B2P model, while 59% are F2P, with different monetization focuses.
47% of games are made in Unity, 28% in Unreal Engine.
51% of projects are planned for release on PC, 43% on mobile devices, 23% on consoles, 11% on VR/AR, 8% on the web, and 2% on social networks.
17% of projects have a budget exceeding $1M, while 80% have less than $500 thousand.
Talents in Serbia
The number of gaming industry workers in Serbia increased by 98% to 4300 people in 2023, mostly from Russia, Belarus, and Ukraine, influenced by the relocation of Wargaming, Sperasoft, Playrix, and other big Eastern European companies.
Currently, 48% of all employed industry workers in Serbia are foreigners.
Most people in Serbia are involved in programming, art, and QA.
60% of companies plan to expand their staff in Serbia in 2024.
Ecosystem in Serbia
76% of respondents are optimistic about the future of the gaming industry in Serbia.
However, only 21% are satisfied with the government support measures in Serbia. Tax incentives (78%) and improving education (55%) are the most required.
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