Turkish Gaming Ecosystem in 2023: Strong Nevertheless
Invest in Türkiye recently unveiled its report, “The State of Turkish Gaming Ecosystem,” offering insights into the industry’s trends, challenges, and prospects. Despite certain setbacks in early 2022, like the pandemic’s end and global conflicts, the Turkish mobile gaming sector proved resilient, with significant acquisitions highlighting its strength.
Turkish mobile gaming landscape boasts 740 active studios, 12 incubation centers, 21 acceleration programs, 2 clusters, and 8 dedicated investment funds, positioning it as a European leader after the UK.
The Turkish mobile gaming’s evolution dates back to the 2010s, marked by the establishment of startup support mechanisms like the Venture Capital Investment Fund (VCIF), which saw significant changes in 2020. This shift, alongside success stories, spurred corporate interest, with 80 active Corporate Venture Capitalists participating in 37% of deals in the first nine months of 2023.
From Exits to Hubs: Turkey’s Gaming Startup Boom
Successes like Peak and Gram Games’ exits gave rise to gaming startup hubs. Both Peak Games and Gram Games were acquired by Zynga for $1.8b and $250m respectively. After which, former employees founded numerous ventures, many within the gaming sector. Another prominent Turkish developer Joygame’s acquisition by Netmarble led to the formation of Boğaziçi Ventures, a major gaming investment fund, showcasing the ecosystem’s rapid expansion and diversification.
The mobile gaming industry operates differently compared to other sectors. An example for this is the hyper-casual games, where rapid releases and market testing are key. With dedicated publishers handling marketing and feedback, numerous studios focus solely on game development, leading to a surge in game releases. Turkish game studios, often bootstrapped, have achieved impressive profitability within just a few years, surpassing $50 million annually.
Read the full report here to gain insight on the story, structures and challenges in the Turkish mobile gaming industry. The report also includes interviews from the sector’s leading figures.
If interesting, check Mobile App Trends of 2024: Adjust & AppLovin’s Report.
