New Zealand ‘ s game development industry has achieved its annual revenue target of $1 billion two years ahead of schedule, which confirms its growing role as a contributor to the New Zealand economy. At the same time, New Zealand ‘ s combined GDP contribution in the creative, digital and technological sectors is expected to outpace the primary sector for the first time.
According to the New Zealand Game Developers Association (NZGDA), the Game Development Industry Subsidy (GDSR) and support from the Digital Centre of Excellence helped accelerate the industry ‘ s growth this year, helping to reach a $1 billion mark in production. Based on the estimated income of the studio and the tax paid by the employer, the New Zealand Government estimates that the return on each dollar invested under both schemes would be 8 to 1.
NZGDA initially projected that, with the introduction of GDSR in 2023, annual revenue for the industry would reach $1 billion by 2028. This milestone was achieved after the industry achieved $758.9 million in income and more than 29 per cent growth in its workforce. Comprehensive industry statistics for the current year will be published in the annual industry report of September by NZGDA.
Joy Keene, Executive Director of the New Zealand Association for the Development of Games, said, “We are witnessing a truly inspiring industry success story — – Our local game development industry is growing 20 times faster than the global average. This is the result of a joint effort by the Government and industry to promote the innovation and development of the workroom, and directly to the country’s economic development.”
She added: “Our focus now is to ensure that educational and vocational pathways are in place to ensure that the industry can continue to grow. Growth means employment, and as a relatively independent export industry, game development offers New Zealand a real opportunity to withstand the turmoil in the wider world economy.”