Revenues generated from UK games events and venues rose by 140% year-on-year to £10.3m in 2023, new data has shown.
This is up from £4.35m made from events in 2022, according to a games report from UK video game trade body Ukie.
The rise was ‘driven by notable events such as the Pokémon Go Fest and Apex Legends Global Series’, with the latter hosting two events in London and one in Birmingham across multiple days. These events also resulted in record ALGS Apex Legends esports viewership in 2023.
The data comes from Ukie’s 2023 Consumer Market Valuation Report, which also found that the UK video games consumer market was valued at £7.82bn in 2023 overall. That’s a 4.4% increase from the revised 2022 total of £7.49bn.
Elsewhere, money spent on streaming and game video content in the UK reached £62.8m in 2023.
Ukie said this declined by 5% year-on-year. However Ukie’s initial 2022 report published this time last year claimed that £47.4m was spent on streaming and game video content in 2022, which would result in a rise now. We’ve reached out to Ukie for clarification on this figure.
Revenue from film, TV, and soundtracks reached £124m, while toys and merchandise spend rose 3.8% to £207m, and money spent on books and magazine increased 2.5% to £14.1m.
Game software sales increased to a total of £5.18bn, a 4.1% increase from the previous year.Boxed software sales dipped 5%, amounting to £495m, while digital console software sales rose by 5.6% to £2.48bn and digital PC software sales rose 4.5%, reaching £684m.
Mobile game sales also contributed to the growth, witnessing a 4.5% increase to £1.52bn.
Nick Poole, Ukie CEO, said: “Once again, the report showcases the vitality of interactive entertainment in the UK in the face of significant challenges.
“The market valuation of £7.82bn in 2023, a 4.4% net increase on the previous year, underscores the enduring appeal and vitality of the UK’s interactive entertainment industry in today’s global marketplace.”
Nick Poole, Ukie
“While celebrating this positive trajectory, we also acknowledge the current market correction affecting some of our member companies, resulting in unfortunate [games and esports] staff layoffs. As an industry, we remain committed to supporting our workforce and games businesses through these transitions, fostering a resilient ecosystem that prioritises innovation and sustainability.
“The video game industry continues to evolve rapidly, presenting both challenges and opportunities. As we continue to see changing patterns of consumer behaviour in how people buy and play games, these figures give us real confidence that games will continue to pioneer tomorrow’s frontiers in entertainment, learning and participation.”
Ukie CEO Nick Poole also gave a talk to students about games careers at the 2024 Digital Schoolhouse Splatoon esports finals last week.
Dom is an award-winning writer and finalist of the Esports Journalist of the Year 2023 award. He graduated from Bournemouth University with a 2:1 degree in Multi-Media Journalism in 2007.
As a long-time gamer having first picked up the NES controller in the late ’80s, he has written for a range of publications including GamesTM, Nintendo Official Magazine, industry publication MCV and others. He worked as head of content for the British Esports Federation up until February 2021, when he stepped back to work full-time on Esports News UK and offer esports consultancy and freelance services. Note: Dom still produces the British Esports newsletter on a freelance basis, so our coverage of British Esports is always kept simple – usually just covering the occasional press release – because of this conflict of interest.
