Fewest games released, highest revenue ever – read the new report on Serbian video game industry for 2025

In the latest report, you can gain detailed insight into where we were in 2025 and compare key indicators back to 2017.

These are the key figures from 2025:

• Free games created (i) in Serbia have been downloaded on platforms over 300 million times and, for the first time, we have separated them from premium titles, which have been purchased over 600,000 times;

• This year, it is estimated that 113 new positions will be opened (a record low for the second year in a row);

• 32% of all employees are women and they lead 42% of all teams;

• 63% of studios and teams are developing original IPs, which is 8% more than last year;

• The number of studios and teams has not changed: it is estimated that there were around 100 operating last year;

• Only 22 new titles have been released, a record low, but as many as 75 are currently in development;

• Mobile games are once again leading the way in terms of total revenue, even though more games are being made for PC;

• The largest 15 companies generated revenue of 222 million euros.

SEE THE WHOLE REPORT HERE

OTHER DATA

It is estimated that 4,200 game development professionals were employed in 2025, which is 300 fewer than in 2024. Given the record-low number of new positions planned for 2026, the last two years confirm that the period of rapid growth has come to an end and that the trend is now moving in the opposite direction.

In the report, you can see more detailed data on revenue, companies, employees, games, and the ecosystem. Most companies and studios are financed by the sale of their own games, which means they are successful enough to ensure the studio’s independence, expand the team and work on new projects.

In collaboration with the PwC Serbia team, we analyzed revenue and other performance information of the largest companies in our market. In addition, their team of experts wrote an article explaining all the information collected.

The main development centers are still Belgrade and Novi Sad, and in terms of employee count, Niš is also a center, although there are significantly fewer teams and companies there. The top three areas when it comes to the number of employees are programming, 3D art and animation, and production. The most difficult thing remains hiring seniors in any position, as confirmed by 60% of respondents.

Most companies have highlighted high taxes and inadequate tax incentives as key obstacles to their business. For the second year, we have been measuring the use of AI in business and we confirm that over three-quarters of studios continue to use these tools, and satisfaction with their use is growing. AI is most commonly used in programming, followed by business support, while in third place is shared among the use of AI for marketing, as well as in 2D art and animation.

Towards the end of last year, Lav Kozakijević compared two major global reports and concluded that the global video game industry was entering a phase of “calm growth.” Now we can confirm that the same trend in Serbia.

SEE THE WHOLE REPORT HERE.