Thanks to the support activities for the Italian videogame industry, from Red Bull Indie Forge until the Tax Credit Videogamesil video game market in Italy continues to grow more and more. Let’s find out all the details together.
The video game market in Italy is becoming increasingly solid
In Italy video game development studios are more than 160 and take more than 1600 peoplea sector that is taking shape growing compared to the latest surveys, with a turnover of 2.179 billion. Italian studies have then shown a innovative approach, becoming one of the few industries in the country to benefit young people; 79% of the employees have in fact under the age of 36.
It is a set of features that should have made them a fundamental piece for the economic recovery of recent years. In fact, according to the forecasts of the Censusby investing 45 million euros in gaming over five years, the turnover of Italian companies in the sector would rise to 357 million euros in 2026; consequently they would be created 1000 jobs, 360 million euros in private investments e 81 million euros in tax revenues.
Despite these forecasts, the institutions and other funding bodies have only recently begun to actively and concretely support this reality. Approximately 93% of developers, in fact, recur at least at first to their savings to finance themselves. In recent times, however, the trend is reversing with one growth of 18% of people who rely on public funding compared to 2018 to support their project.
And based on these needs of the sector, they are taking action increasingly important realities and institutional to also allow the Italian market to field all its excellence on a level technological e artistic.
Tax Credit Videogames and Red Bull Indie Forge
In 2022, for example, the Ministry of Culture renewed the Tax Credit Videogames. It is a measure that recognizes a tax credit equal to 25% of the eligible costs of production of a video game, up to the maximum annual amount of 1 million euros per company or for group of businesses.
It is a measure that facilitates development studies, also providing them with institutional support. It is essential that activities of this kind continue and are replicated throughout Italy. The long-term goal is to bring foreign investors to our country and to make gaming a new spokesperson for Made in Italy. At the moment, in fact, the perception among those who work in the sector is that the most attractive countries for video games are Great Britain; United States e Germania.
But it is not only the institutions that deal with the financing of the Italian videogame sector: large companies are also part of this important process. A virtuous example of this type of support is Red Bull Indie Forgethe innovative project dedicated to independent Italian development studios.
Among a shortlist of previously unpublished candidates, a jury of professionals in the sector will choose a winner who can rely on Red Bull’s firepower for the promotion of his video game. Red Bull Indie Forge wants to create one support network that allows the studio to obtain greater visibility. The success of the last edition also pushed the company to make the project even more impressive. The winner of the new edition will also be able to collaborate with BigRockthe largest reality in education for the Computer Graphics in Italy.