Aussie games industry to receive funding boost

The Australian Interactive Games Fund is ready to be restored as a part of the federal authorities’s new National Cultural Policy, setting Australia on a path in the direction of a “billion-dollar” gaming financial system.

The $286 million coverage, dubbed “Revive”, is ready to offer contemporary assist to the humanities throughout the nation.

The Interactive Games and Entertainment Association CEO Ron Curry welcomed the news with open arms, telling 9News the organisation had been pushing for the coverage to be reinstated because it was dropped in 2014.

“We have a rich history at creating great video games here in Australia,” he mentioned.

“What this will do is give support via direct funding, similar to what film and TV producers get.”

Small-to-medium unbiased recreation studios can count on to learn from a $12 million enhance, which will likely be accessible by way of Screen Australia.

“The idea here is that if you’re funding these businesses, they’re creating export dollars and they’re creating employment,” Curry mentioned.

The digital video games tax offset can be about to be handed by way of Parliament, providing gaming firms a 30 per cent refundable tax offset as much as $500,000 to assist their initiatives.

Curry mentioned the tax change, alongside small state authorities grants and now a brand new federal fund, would see Australia’s rising video games trade thrive even additional.

“They (game studios) can get the necessary financing they need, they can hire the talent they need, and then what we should be seeing is creating great content, which should lead to success,” he mentioned.

Curry mentioned it was vital to recollect the online game improvement cycle employed all varieties of creatives, not simply these seeking to make a brand new recreation.

“It employs the musicians, it employs the writers, it employs the artists, it employs the producers, so it’s an industry that kind of sweeps right across that whole cultural art sector,” he mentioned. 

The international video gaming trade is booming, he says. 

“If we look at the industry globally, there’s no argument that it’s thriving,” he mentioned.

According to IGEA, the worldwide video games trade is value about $250 billion, greater than movie and music mixed.

“But if we drill back and pull right back and have a look, well, what is Australia’s contribution to that? It’s about $285 million. Which sounds great until you compare it to $250 billion,” he mentioned.

Curry compares Australia’s gaming financial system to the likes of Canada, which houses near 17,000 gaming builders, in comparison with Australia’s 2100.

“The contribution in Canada, for example, is about $4 billion so there’s the potential. It’s a big industry, our contribution needs to be way bigger in Australia,” mentioned Curry.

“We look forward to reading more details on the fund and will work with the great team at Screen Australia to educate the industry on accessing the support.”