Australian video game industry worth $1 billion.
The Australian gaming industry is now worth One Billion Dollars. In a press release from the IEAA recently, it has been announced that the Australian gaming industry passed the 1 billion dollar mark over the last year. In the last 6 months alone, GfK compiled statistics showing that 5.5 million games and over half a million consoles have been sold. Clearly, Australians do love their games and there is only more room for the industry to grow. Full press release inside>>
Australian gaming industry tops the billion dollar mark
Australias gaming industry has officially come of age, breaking the $1 billion sales mark over the past financial year, according to the Interactive Entertainment Association of Australia (IEAA). Compiled by GfK Australia, the latest statistics show an overall market increase of 30 per cent over the past six months, with over 5.5 million games and almost half a million gaming consoles sold since January 1 this year. This is a spectacular result for the Australian gaming industry. Breaking through the $1 billion mark highlights the seriousness and sheer scale of the industry in Australia, says Chris Hanlon, CEO of IEAA.
Australians are embracing interactive gaming as a preferred form of entertainment and the industry will continue to grow as the technology, games and equipment become even more sophisticated, says Hanlon. Interactive entertainment attracts people from all ages and walks of life who have significant disposable income. The stereotype of gaming as a childrens pursuit is simply wrong, with the average gamer age in Australia at 28. The figures indicate strong hardware sales, which generated almost $150 million in the last six months alone. Australians have also enjoyed the latest releases in games, spending almost $264 million over the same period.
Australia is growing in significance in the international gaming industry. There are 40 game development companies across the country, employing some 2,500 people that have produced 240 game titles, says Hanlon. By supporting the industry, Australian consumers are feeding the potential of the game creators and technology developers which will mean cutting edge gaming and a significant contribution to the economy over the years to come, Hanlon says.
GfK Australias Daniel Morse says the figures put the industry in a good position to break another record again this year, exceeding all expectations. All platforms performed extremely well considering the average platform lifecycle, which usually sees hardware sales decline a few years after launch as the market saturates and new technology is released.
