New Industry Report Shows Record Year For The Swedish Game Industry
Despite concerns about delays after the pandemic, the report shows an increase in revenue and the number of new companies and employees. In total, games made in Sweden have been downloaded nearly seven billion times, and major Swedish game titles regularly top the download and sales lists.
Swedish game companies increased revenue by 13% to EUR 3.1 billion and set new records in 2022. In total, including subsidiaries abroad, the Swedish industry generated a revenue of EUR 8.1 billion, an increase of 40% compared to the previous year.
A majority of the Swedish game companies are profitable and the industry contributes several billions to the Swedish public treasury. Together, the ten most profitable companies paid about EUR 250 million in corporate taxes on their profits in 2022.
Every fourth person has played a game created in Sweden
More than three billion people play some form of digital game in the world today, a number that has increased year after year – regardless of the world situation. In total, Swedish-developed games have been downloaded nearly seven billion times, and major Swedish game titles regularly top the download and sales lists. Our estimate, based on download data, is that at least every fourth person in the world has played a game created in Sweden.
"Swedish video games is an export industry that operates on a largely global market. Growth in the industry occurs both in established companies, in new businesses, and in creating new games and IP. This year's numbers show how well the Swedish industry is doing in this global economic situation," says Johanna Nylander, Head of Policy & Analytics at the Swedish Games Industry.
44% of new recruits were women
In 2012, a total of just under 300 women worked at game companies in Sweden. Ten years later, that number has increased to 1 977, which makes up a share of just over 23% of the entire industry. This year's statistics stand out, particularly about the gender distribution. Of the approximately 500 people who joined the industry, 44% were women. The year before, it was 26%. In a historically male-dominated industry, this proportion shows a trend of increasingly equal recruitment.
Skills supply continues to be a long-term challenge
The number of new companies is increasing in Sweden and in the long term, the supply of skills is the biggest challenge for the game industry. According to the authority for growth analysis (myndigheten för tillväxtpolitiska utvärderingar och analyser), the total number of new companies in Sweden decreased by 7% in 2022 compared to the previous year. However, within game development, 104 new companies started in 2022, which is an indication that the Swedish industry is growing stably. This results in the fact that in December 2022 there were 939 active companies within game development – including 50 older companies that changed operations to game development. This is an increase of 20% compared to 2021. The industry employed a total of 8,445 people in Sweden and approximately 16,500 people in Swedish-owned companies abroad.
"We have everything we need for a bright future, except one: supply of skills," says Per Strömbäck, Head of Secretariat at Swedish Game Industry. “The audience is growing globally, many want to play Swedish-made games, we have the channels to the audience and make games with high quality. But we need more employees, partly from specialized education, but it is also important to be able to bring in staff from other countries. With the right conditions, the industry can continue to grow.”
Game development is a global industry fit for the future
The game industry has not reached the ceiling in Sweden yet, there is more room to grow. Almost half of all companies that exist today have been registered in the last five years and 16 have existed since the 90s.
In the global competition, the Swedish companies have successfully taken market shares, attracted expertise, and not least, created game experiences for several hundred million players worldwide. There are Swedish game studios spread over five continents and 59 countries.
The 23 Swedish companies listed on the stock market had a total revenue of EUR 6 billion in 2022, a threefold increase since 2020 (EUR 2 billion) and almost twice as much as in 2021 (EUR 3.6 billion).
About the Swedish Games Industry 2023: Game Developer Index
The Swedish Game Industry 2023: Game Developer Index is an annual industry report that maps, reports, and analyzes Swedish game companies and international trends by compiling the companies' annual reports. It compiles the Swedish companies' most recently reported operating year (2022).
About the Swedish Games Industry (Dataspelsbranschen)
The Swedish Games Industry is Sweden’s trade association for video game companies. We represent the industry as a whole and act as its voice to the outside world.
Contact
Johanna Nylander, Head of Policy & Analytics, Swedish Games Industry
johanna.nylander@dataspelsbranschen.se
0709482988