Good news for game makers: Global investment in games has returned to 2010 levels.
Investment in the industry grew 16 percent in 2013, according to a report by Digi-Capital, a London-based investment bank that serves the gaming and digital media industries. Total investments hit $1 billion for the year, and the average investment increased by 14.8 percent to $6 million, the report found.
Games dominated mobile device displays in 2013, accounting for 32 percent of all app usage. Games were responsible for a whopping 72 percent of mobile app revenue for the year, even though they represented just 40 percent of mobile app downloads.
The report estimated that by 2017, mobile and online games could total $60 billion in global revenue and account for 60 percent of the game software market.
It appears the game investment market has finally recovered after Zynga’s lackluster IPO in December 2011, which was followed by a significant drop in activity. King, the London-based game maker behind Candy Crush Saga, which was reported to generate daily revenue of $632,867, has the next notable IPO in the works in the industry.