The United Kingdom has a long gaming heritage. From groundbreaking titles like Grand Theft Auto, developed in Scotland, to the charming puzzle classic Lemmings, which originated in England, British studios have consistently delivered innovative and entertaining games for decades.
But how is this vital industry performing in 2024?
As technology has evolved, more ways to play games have been created. Today, Brits can enjoy their favourite titles from a console, computer, smartphone, tablet, VR headset, or on a myriad of other devices that allow them to stream using services like Xbox Cloud Gaming.
But other areas of entertainment and technology are beginning to reach a temporary plateau with companies like Netflix putting up prices and Apple’s new AR headset struggling to captivate audiences.
With this in mind, how is gaming faring in 2024?
British Gaming Companies See Continued Growth
The good news is that British video game companies are experiencing continued growth. A recent industry survey revealed positive financial performance in 2023, with 41% of respondents reporting an increase in their company’s net profits compared to the previous year.
This upward trend is further bolstered by the fact that nearly two-thirds of companies surveyed increased their workforce size in 2023. This expansion reflects a thriving industry with a strong demand for skilled professionals.
However, this growth might come with a future hurdle. The same survey highlighted concerns about staff recruitment. As companies scale up and demand for talent intensifies, finding individuals with the necessary skills to fill these new positions may become a challenge. This potential talent shortage could hinder future commercial performance if companies are unable to secure the workforce they need to keep pace with the industry’s momentum.
UK Gaming Market Poised for Expansion
The growth isn’t limited to just the companies themselves, who can also benefit from export revenues. The UK consumer gaming market is projected to experience significant expansion in the coming years. Market analysts forecast a growth rate of 9.57% per year between 2024 and 2027, a clear indication of the continued popularity of video games within the UK.
This ongoing growth suggests a strong and engaged player base that’s ready to invest in the latest titles, new content, and online gaming services.
Rather than coming solely from more people taking up the hobby, a large portion of this growth comes from the amount of time individuals spend playing games, with 10% of gamers spending more than 11 hours a week competing online and a further 19% doing so for at least six hours.
We can also see a lot of competition in individual areas of the gaming industry, demonstrating the sustained high demand for content. Online casinos, for example, continue to enjoy booming demand amongst British players. In their quest to capture these new players and entice others away from competitors, most brands offer bonuses for customers who sign up for a new account.
Tech-savvy gamers are using this to their advantage with companies like Oddschecker creating resources to help players learn how to claim a Betfred casino promo code, for example, with details on what’s available and a step-by-step guide on how to do it.
Similar marketing techniques can be seen elsewhere with sites like the Mail Online providing gamers with resources to find discounts on Xbox gaming hardware and content such as free games and 20% off wireless controllers.
The Silver Gamers
One of the most interesting recent trends within the UK gaming industry is the changing demographics of players.
Gone are the days when gaming was solely associated with younger men. Recent data reveals a significant rise in older demographics embracing video games. Between 2019 and 2021, the number of gamers aged 55-64 nearly doubled, jumping from 24% to a staggering 43%.
Similar increases were observed in the 35-44 and 45-54 age groups, demonstrating a clear shift towards a more inclusive gaming audience. Importantly, this trend hasn’t reversed in 2024, suggesting a lasting cultural shift where video games are enjoyed by people of all ages.
A Bright Future for UK Gaming
Despite some wider economic challenges, the UK gaming industry in 2024 is a picture of health and growth. British companies are experiencing financial success and expansion, the market is poised for further expansion, and the player base is becoming more diverse and inclusive.
