Study Gamescom: European market for virtual goods in games is growing rapidly

Posted on by
  • Virtual goods market to triple in size across Europe to €1.9 billion by 2014
  • UK virtual goods expected to double to £180.5 million by 2014
  • UK has second largest virtual goods market in Europe

London, 18 August 2011. The virtual goods market is expected to double in the UK, and triple across Europe, by 2014 according to the findings of a study* by the online payment service Skrill (Moneybookers), conducted by the research institute SuperData Research.

In 2010 the virtual goods market in the UK was worth £93.1 million and across Europe it amounted to £627 million. By 2014 this is forecast to increase to €180.5 million in the UK and triple across Europe as a whole to be worth £1.9 billion.

Currently the UK has the second highest sales of virtual goods in Europe, behind Germany. Based on the size of the market for virtual goods the top 10 countries in Europe are (in £ and € millions):

1       Germany £139.3  (€159.8)
2       Great Britain   £93.1   (€106.8)
3       France  £91.1   (€104.5)
4       Italy   £53.0   (€60.8)
5       Russia  £51.6   (€59.2)
6       Spain   £48.2   (€55.3)
7       Turkey  £30.2   (€34.6)
8       Netherlands     £12.3   (€14.1)
9    Norway     £9.7     (€11.1)
10    Belgium    £9.3     (€10.7)

The study also determined the average transaction value per purchase for selected countries. In 2010 the UK had the sixth largest average transaction values in Europe at £19.34. December saw the highest transaction values in the UK at £21.00.

France has the highest average transaction values in Europe at £28.48, followed by Turkey (£27.03) and Spain (£26.68).

“As this study shows, as we move towards 2014 in-game purchases will rise sharply. Despite the economic crisis the virtual goods market offers enormous potential for game providers. Especially for those who want to exploit it using virtual objects or clever game subscriptions” explains Martin Ott, Co-CEO of Skrill Holdings.

“However, how to monetize internationally is the biggest challenge they will face. Skrill offers an online payment service that offers over 100 payment options in over 200 countries and territories.”

For more information about Skrill Holdings please visit http://www.skrill.com.