In light of the news that Microsoft has taken over one of the largest and most famous video game development studios Activision Blizzard for the amount of 68.7 billion dollars, it is now clear to many about the potential of the gaming industry.
The gaming industry in Serbia is also growing fast, similar to global trends. It has an annual growth rate of about 20%. In 2020, it generated about 120 million euros in sales, with over 2,000 employees (almost 30% women) working for more than 120 companies.
Belgrade is still ahead in terms of the number of gaming companies in this sector, but Novi Sad is advancing too.
The number of employees in the Serbian gaming industry has been going up year on year. In 2018, 1,281 employees worked in game development in Serbia, including 56 foreigners. That is 200 people more than a year earlier, and a year later the number of employees recorded strong growth – about 2,000 people in 2020.
Game development studios work mainly in small teams, up to 5 people (47%) and 6 to 10 people (30%). They usually pay through premium monetization models (42%), although 26% also use free play models. For most companies, the main source of funding is direct sales (57%), followed by self-funding (15%).
Their main markets are the United States, Germany, the United Kingdom, France and China. Recently the most successful Serbian gaming company, Nordeus, was acquired by the American company Take-Two Interactive.
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