Overview

• Games industry leaders predict 2024 will see widespread closures, following a year of layoffs in 2023.
• High interest rates, an oversaturated market, and cautious investors are cited as contributing factors to the industry's struggles.
• Around 10,500 games industry employees were laid off in 2023, with an estimated 3,000 job cuts already confirmed for 2024.
• Many businesses in the industry are unprofitable, with one CEO predicting up to two years of hardship.
• Despite the challenges, some industry leaders remain hopeful, suggesting the situation is temporary and that a more sustainable and wiser games industry will emerge.