Financial planning is important within the games industry as it will ensure that you can hire the correct amount of people with the right specialities to produce your game, and also makes sure that you won't end up wasting money in the long run as you will plan everything out carefully to ensure this. Planning will make your money spending more efficient, overall making the game creating process cheaper and easier. It is always a good thing to plan before you do anything, and financial planning is one of the more important topics you should plan for.
The gaming industry as a whole face many financial issues. To prevent yourself from facing these financial issues, you will need to prepare by creating a Financial plan and by identifying the many issues that you could come across.
Game design is a very expensive process overall. For example, it cost Bethesda around $100 million to develop The Elder Scrolls: Skyrim. Skyrim is a big open world game which is one of the reasons why it costs so much. You will need a lot of time to create all of the world and to design the game. This affects the overall cost of the game because time is money and the longer you work on a game, the more money it will cost to create. Thus the gaming industry has a high cost if something goes wrong with the process.
Market Trends
As shown by the pie chart above, mobile games are a huge part of the video game industry and are increasing in popularity much more than other platforms. PC and Console percentages are very similar. The casual web games section of the pie-chart is decreasing, probably because the mobile industry has similar and more accessible casual games.
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