Major titles now eclipse blockbuster Hollywood films both in terms of production costs and profits. At the same time, new models have emerged, with social games and the freemium models becoming the default model for many publishers.
The industry has also been massively energised by the rapid growth of app, clouds, streaming platforms, stores and mobiles with a convenient functionality generally providing players with 24/7 service driving new revenue models. Concurrently, in-game purchases and the growth of in-game virtual currencies, immersive technologies and NFTs, have brought new and exciting opportunities for publishers and developers.
The global gaming industry has experienced significant growth over the past years, and it is forecasted that its worth could reach $321 billion by 2026.
In sync with the exponential growth prospective, Malta is well-placed to act as the jurisdiction of choice to address all facets of the digital gaming market. As this prosperous industry continues to pick up at a steady pace, Malta is embracing this new reality by strategically designing and planning to cater for the required workforce. Government’s strategic forward-looking approach is intertwined with the provision of an array of tax incentives and schemes that address the needs of digital gaming companies during initial conceptual stages, R&D and the internationalisation and marketing of the digital gaming product.
As part of the government initiatives to accelerate growth in video gaming, digital media, and immersive technology sectors in Malta, and following the launch of the basecamp incubator space, GamingMalta signed a partnership with Unity, one of the largest real-time 3D platforms in the industry, to launch a Centre of Excellence. The aim of such Centre of Excellence is to offer highly relevant training and certification programs to students and ensure that Malta grows into a talent hub for these sectors.
