Written by Paul Sulyok Green Man Gaming CEO - an article in Fortune
Here's a snippet of what Paul has to say about the Survive until 2025 mantra:
The gaming industry is no longer the niche playground of the stereotypical nerd; it’s a universal phenomenon with 3.3 billion gamers worldwide. Video games, from the action-packed Call of Duty to the cerebral Wordle, now engage diverse demographics across all regions and age groups. Yet, despite its booming popularity and projected anticipated $300 billion in revenue by 2028, the global gaming industry is in crisis. Over the past 18 months, more than 20,000 jobs have been lost and numerous studios have shut their doors. Venture capital investments plummeted from $14.6 billion in 2022 to a mere $4.1 billion in 2023. As we navigate through a tumultuous 2024, the industry is bracing itself, hoping to survive until 2025.
The U.K. gaming sector, a beacon of innovation, now grapples with severe challenges. British entrepreneurs lack sufficient support, with private equity and venture capital investments proving inadequate. This financial tightening impacts the entire ecosystem, forcing British gaming companies to look to the U.S. for recovery.
Green Man Gaming has weathered the storm by doubling down on innovation and expanding our social commerce platform to connect more gamers worldwide. Our success could be a blueprint for others. With the right strategy and support, U.K. gaming companies can thrive even in harsh economic climates.
Read the full article here