UK videogame market strikes record £5.7bn valuation

The dominant video game market is now worth more than music and film combined

The British videogame sector has surged to another record valuation of £5.7bn in the wake of the runaway success of hit online titles such as Fortnite and Battlegrounds.

Figures compiled by industry trade body Ukie highlight the viral success of both titles, published by PlayerUnknown in 2018, has lifted all boats - with software revenues alone now at £2bn.

A further boost was provided courtesy of high-profile crossover brands between film and games such as Rampage and Tomb Raider, which between them helped to lift revenues from game-related films up 34% to £23m.

The direction of travel hasn’t been uniform however with the virtual reality acting as a drag on the wider industry, with sales falling 20% since 2017, although this wasn’t enough to prevent hardware sales growing 10% over the period.

Ukie chief executive Dr Jo Twist said: “The UK games industry is a cornerstone of the country's cultural landscape and continues to work hard to create new, innovative and exciting content that consumers want to experience, and that helps to drive the industry forward year-on-year.”

The dominant video game market is now worth more than music and film combined, with global demand now such that Singaporeans spend more time watching eSports than traditional TV.

Join us, it's free.

Become a member to get access to:

  • Exclusive Content
  • Daily and specialised newsletters
  • Research and analysis

Join us, it’s free.

Want to read this article and others just like it? All you need to do is become a member of The Drum. Basic membership is quick, free and you will be able to receive daily news updates.