The Australian government’s new “Games: Expansion Pack” is expected to provide a significant financial boost to the country’s video game developers.
The federal government announced today that it would provide more cash to assist Australia’s rapidly expanding video games sector. The new package is targeted at gaming firms with development costs of less than $500,000, with funding from Screen Australia of up to $150,000 available to help them get started. Games that cost more than this budget will still be eligible for the Digital Games Tax Offset introduced last year and will continue to be available.
Games: Expansion Pack will make it possible for Australian independent game production companies to get Screen Australia funding for the first time in eight years due to the release of the game. “This is a very welcome addition,” said Ron Curry, president, and CEO of the Interactive Games & Entertainment Association (IGEA), noting that the new plan demonstrated that video games are an essential component of the film and television industries.
According to Mr. Curry, “we anticipate rapid growth for highly creative and competent Australian games firms and practitioners.” “Having access to fair financing levers guarantees that Australian game makers can build their companies locally while also continuing to make their mark on the global stage,” says the report.