According to Business Insider, the Gaming industry as a whole is anticipated to contribute upwards to $139 Billion by 2022 in global revenues. In Canada, there is a growing number of companies producing games, and the vast majority of those, over 80%, are small businesses. It’s clear that there are a lot of opportunities and the potential is enormous for the gaming entrepreneur to break into the international market.
The Global Canadian Business Forum had the pleasure of interviewing Jean Leggett with One More Story Games to get her advice to game developers about what they need to do to market their games to the world.
Recently, the Entertainment Software Association of Canada released its 2019 economic impact study – The Canadian Video Game Industry 2019, exploring industry growth and contributions to Canada’s economy.
The document looks at the industry through five lenses: economic impact, size and structure, geography, employment impact, and workforce. Canada’s video game industry is well-positioned for continued growth; in the last two years, the number of Canadian video game companies increased by 16%, to 692 active studios. The industry contributed $4.5 billion to Canada’s GDP in 2019; and, supports an estimated 48,000 Full-Time Equivalents (FTEs) of employment including 27,700 FTEs directly employed by video game companies.
As the gaming industry is, for all intents and purposes an international market, Global Affairs Canada has taken serious note of the industry. The Trade Commissioner Service participated in the latest Montreal International Gaming Summit (MIGS) last week to support Canadian studios wanting to launch their product to the world.
“While companies are thriving in Canada’s strong video game development sector, our industry continues to sit at the centre of an innovation ecosystem that is driving growth in Canada’s Digital Economy,” said Jayson Hilchie, President & CEO of ESAC. “With many of the world’s biggest franchises driving strong job growth in this country, our industry will continue to punch above its weight and lead the world in the development of exciting and innovative digital entertainment.”