Metacore \\ Merge Mansion
IN 2024, THE FINNISH GAME INDUSTRY EXPERIENCED A DECLINE IN TURNOVER, dropping from over €3 billion in 2022 to €2.85 billion. The decline is partially caused by non-industry-related factors like recession and inflation and partially by a general post-Covid slowdown particularly in mobile. Additionally, the absence of significant one-time deals, such as the Stumble Guys agreement from 2022, contributed to the downturn, as there were no similar deals in 2023 or 2024. The closure and write-off of the Seriously studio at the end of 2022 also impacted the industry's financial performance compared to previous reference year.
Despite these challenges, the overall performance of the Finnish Game Industry in 2024 remained reasonably strong. All in all, the Finnish Game Industry as a whole was still highly profitable, with estimated operating results of around €800 million in 2023 and approximately €400 million in 2024.
Over the last two years, the structure of the industry has changed. The number of big studios, generating more than €100 million in turnover per year, has remained the same as in the previous period (four). However, the number of studios with an annual turnover of €1 million has decreased from 45 to 37. This highlights the current state of the global game market. The mainstream game industry has matured; economies of scale and profitability are now key factors following a period of rapid growth.
Supercell \\ Brawl Stars
It is worth noting that during the last twelve years (2013–2023), the Finnish Game Industry has generated a cumulative turnover of €28 billion, with companies, shareholders, and employees contributing well over €3.5 billion in various tax payments to the Finnish government, thereby benefiting the national economy. According to Neogames' estimates and based on public sources, every euro of public money invested in the game industry has returned approximately 22 euros to the Finnish economy in tax revenue alone over the past twelve years.
Based on financial data, it is safe to say that the Finnish Game Industry has become a vital part of the national economy and is the best-performing creative/content industry in Finland, especially considering that well over 95% of the industry turnover comes from exports.
