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Finnish games industry slows after years of rapid growth

But still on the rise
Finnish games industry slows after years of rapid growth

Growth in the Finnish games industry has slowed following years of rapid expansion in the sector.

A new report from industry association Neogames found that turnover for the sector in 2016 was €2.5 billion, up €100 million from 2015.

This increase accounted for 4% compared to the 33% growth recorded between 2014 and 2015.

The number of new studios in the country has decreased. Once a hotbed of startup activity in the games space, last year saw just 16 new companies founded, the lowest number since 2009.

Since 2010, the number of new companies has ranged each year anywhere from 25 to 55.

Rise and maturity

The number of active studios also decreased for the first time. Around 20 studios were thought to have closed last year, bringing Finland’s total number of active game studios to 250.

Despite the slow in growth, 30 studios are still said to be making over €1 million annual turnover, with 10 employing more than 50 staff.

The total number of people employed by the Finnish games industry is now estimated at around 2,750, 50 more than in 2015.

280 new jobs are expected to be created this year, though the report notes it has become increasingly difficult for studios in the country to find and recruit local talent. 18% of employees in the sector come from abroad, with that number likely to grow.

You can view the full report here.

You can also find studio profiles on a number of Finnish games companies here.

Neogames’ 2016 report on the Finnish industry was said to be based on 140 company interviews, as well as data from other sources.