TIGA: British game studios express cautious optimism about the 2024
The market state is far from optimal, but studios are trying to be positive.
Hiring situation
73% of surveyed businesses plan to increase their workforce in 2024 (compared to 75% in 2023).
21% plan to maintain the same staffing levels.
6% of respondents plan layoffs.
33% of surveyed businesses state that a shortage of qualified employees is the main hindrance to company growth in 2024.
Business Investments
These are investments related to R&D, employee training, and the development of new projects.
44% of businesses are more optimistic about these costs than in 2023.
36% do not anticipate significant changes by 2023.
19% of respondents believe that the situation with internal investments will worsen.
Results
70% responded that their companies feel "good" or "very good," compared to 75% the previous year.
27% of businesses feel the same as the previous year.
3% reported that the situation is either bad or very bad.
Expectations
However, 46% of respondents note that they are optimistic about the coming year (compared to 40% the previous year).
54% expect an increase in net profit in the next 12 months.
But optimism about market conditions has fallen from 66% in 2023 to 46%.
Costs and Prices
77% of businesses expect an increase in spending on personnel and equipment this year, compared to 86% in the previous year.
35% of businesses plan to shift some of these expenses to customers; 56% do not plan to change pricing policies.