TIGA Research Shows UK Video Games Industry on Course for Growth In 2021

TIGA Research Shows UK Video Games Industry on Course for Growth In 2021

PR Newswire

LONDON, Jan. 13, 2021

LONDON, Jan. 13, 2021 /PRNewswire/ -- TIGA, the trade association representing the video games industry, released a Business Opinion Survey (BOS) today which shows that while the industry is set for a year of growth, less than half of respondents consider that the UK remains a favourable environment for the games industry. 72 per cent of respondents plan to grow their organisation's workforce during 2021, but only 48 per cent believe that the UK's economic and business environment is favourable to the video games industry.

TIGA's research was carried out at the end of 2020. The survey is based upon a representative sample of 53 games businesses including small, medium and large firms, developing games across mobile/tablet, VR, PC and console.

TIGA's Business Opinion Survey 2020-21 includes the following key findings:

Dr Richard Wilson OBE, TIGA CEO, said:

"The UK video games industry is set for growth, with 72 per cent of respondents to our Business Opinion Survey expecting to increase employment over the coming year. However, just 48 per cent of games businesses in our survey believe that the UK's economic and business environment is favourable to the sector. This is down from 65 per cent in 2019 and represents the lowest proportion of games businesses viewing the UK's environment as favourable since 2015.

"The Government can strengthen the sector by taking three actions. Firstly, enhance Video Games Tax Relief (VGTR) by raising the rate of relief from 25 to 32 per cent to ensure a favourable tax environment that promotes growth in the sector. Secondly, introduce a Video Games Investment Fund (VGIF) to improve studios' access to finance. The VGIF would make grants or loans of between £75,000 to £500,000 available to games businesses on a matched funding basis. Thirdly, increase the supply of well-educated graduates who are able to work in the games industry and enable our employers to recruit highly skilled people from abroad."

About TIGA

TIGA is the network for games developers and digital publishers and the trade association representing the video games industry. For more information visit: www.tiga.org

Video Games Tax Relief, a measure TIGA was instrumental in achieving, has been available to UK games companies since August 2014 and has driven growth in the sector. See: https://tiga.org/policy-and-public-affairs/games-tax-relief

For more information on TIGA's proposal for a Video Games Investment Fund, see: https://tiga.org/policy-and-public-affairs/video-games-investment-fund

Percentages are rounded throughout this report and so do not always add up to 100 per cent.

Get in touch:

Tel: 0845 468 2330
Email: info@tiga.org
Web: www.tiga.org 
Twitter: www.twitter.com/tigamovement 
Facebook: www.facebook.com/TIGAMovement 
LinkedIn: http://www.linkedin.com/company/tiga

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