In 2023, Swedish gaming companies earned a record $8.5 billion
The organization Dataspelsbranschen has released a report on the state of the Swedish gaming industry for 2023. Below are data on the industry's revenue, the most profitable companies, and the number of developers in the country.
Main findings from the report:
- last year, Swedish gaming companies generated 34.6 billion Swedish kronor ($3.25 billion) domestically, a 6.4% increase compared to 2022;
- revenue from foreign subsidiaries of Swedish companies rose by 3.3% to 55.8 billion Swedish kronor ($5.25 billion);
Revenue of Swedish gaming companies in Sweden and abroad from 2014-2023
- video games contributed 5.4 billion Swedish kronor ($508.8 million) in taxes to the Swedish treasury over the year;
- by the end of 2023, 23 gaming companies in Sweden were public. Their combined global revenue was 64 billion Swedish kronor ($6 billion), three times more than in 2020;
- the top 5 Swedish gaming companies by global revenue: King, Mojang, Paradox Interactive, Toca Boca, and EA DICE;
- by the end of 2023, there were 1,010 gaming companies in the country, but only 196 had at least five employees;
Distribution of Swedish gaming companies by number of employees
- the number of employees in gaming companies in Sweden is 9,089, an increase of 8%. In 2023, Swedish companies' foreign offices employed another 15,792 people, a 4% decrease from the previous year;
- Ubisoft remained the largest gaming employer in the country, with 765 people employed in its Swedish offices in 2023. The top five also included King (714 employees), EA DICE (677 employees), Embracer Group (538 employees), and Avalanche Studios (476 employees);
- Swedish companies conducted seven deals related to investments or acquisitions last year.
"The year 2023 was expected to be very challenging for Swedish gaming companies. Yet it turned out to be record-breaking. Employment grew. Revenue grew as well. The growth wasn't as significant as in previous years, but nevertheless, it's a record figure. However, not everything was rosy. Investments decreased, as did the number of employees abroad amidst Swedish companies selling off overseas subsidiary studios. But overall income still saw an increase," stated Per Strömbäck, Managing Director of Dataspelsbranschen.
