Growth, challenges and future opportunities in the Nordic games market
- Discover key drivers of growth and challenges in the Nordic games industry, according to leading experts.
- “Strong talent pool, supportive ecosystem and public funding” are some of the factors making the Nordic region interesting to developers.
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Game sector sentiment has changed considerably during the 11 years in which the Pocket Gamer Connects Helsinki conference has been running.
Once dubbed a global leader, the Nordic games industry hasn’t been exempt from the worldwide trend of layoffs, studio shutdowns and lack of investor interest.
But if there’s something the region is known for, it’s resilience, creativity and its innovative spirit.
So ahead of PG Connects Helsinki’s 12th anniversary on October 7th-8th, we’ve asked a selection of industry experts, who are speaking at the event, to share their take on the state and significance of the Nordic games market.
The power of collaboration and innovation
Erla Gunnhildardóttir, the CEO at Figures – a company helping game studios align their financial strategy with growth targets – says that working with industry leaders like Iceland’s CCP Games and Finland’s Supercell has given her “a deep appreciation for the Nordic mindset and working culture”. She says their “collaborative and transparent business culture allows for rapid adaptation and the kind of strategic growth that is essential for success in a fast-paced industry”.
Veli-Pekka Piirainen, the founder chairman of the board of game studio Critical Force, describes the Nordic games market, and Finland in particular, as interesting due to its “strong talent pool, supportive ecosystem and public funding”.
“Nordic studios have always had an outsized impact. It’s a hub that has set many global trends and, in addition to amazing game studios, also houses world-class game tech and marketing companies.”
Henri Lindgren
Based in Helsinki and Kajaani, Critical Force was founded at the height of the free-to-play mobile games market in 2012, with the aim of creating multiplayer mobile shooter games. Similarly to Gunnhildardóttir, Piirainen thinks the Nordic game sector’s global influence comes down to “groundbreaking ideas and successful studios”, many of whom are born from local talent.
As for the impact of innovation, Henri Lindgren, the founder and CEO at Kokoon Games, thinks it’s one of the biggest opportunities and strengths, not just to his own studio, but to the entire region.
“Our strength isn’t about pushing another match-3 game out there – it’s about finding something new, something unique that would resonate with the target audience, and executing that with the highest quality,” he says.
“In general, I feel Nordic studios have always had an outsized impact. It’s a hub that has set many global trends and, in addition to amazing game studios, also houses world-class game tech and marketing companies – such as Metaplay and Geeklab here in Helsinki”.
Based in Helsinki, Kokoon Games makes multiplayer party games with the ambition of bringing people together. Lindgren regards Finland’s success as a result of the government’s “good support system to boost early stage companies,” in addition to its “talent pool, collaborative dev culture, innovation and a legacy of globally successful game companies”.
Challenges and opportunities
Past success aside, when it comes to identifying the main challenges in today’s game industry, Lindgren says it’s “obviously discoverability – cutting through noise in an increasingly saturated market”.
Piirainen also mentions market saturation, among other hurdles such as “high UA costs, consolidation of companies, and rising competition coming from China.” Add to that “platforms like TikTok” and large companies scaling up, “making it increasingly difficult for smaller developers to enter the market successfully”.
As the industry evolves, “the pressure to deliver innovative content while keeping a handle on financials is intensifying,” says Gunnhildardóttir. She pinpoints sustainability at scale – “growing quickly while maintaining high-quality gameplay, creative output, and a healthy company culture” – as a key challenge for many studios.
Looking forward, both Piirainen and Gunnhildardóttir consider AI the biggest opportunity for the industry.
More particularly, Piirainen highlights the potential to make “development more effective with AI, and enable new forms of in-game AI-driven features”. Meanwhile, Gunnhildardóttir foresees a rise in AI-powered tools. “Game studios that leverage data analytics to better understand player behaviour and operational efficiency are positioning themselves for long-term success,” she says.
Of course, the other crucial component for success is “integrating financial planning and strategy with game development”, which she says enables studios to “scale sustainably without sacrificing creativity”.
“The Nordic gaming community has always been an inspiration for me, and I look forward to connecting with fellow industry leaders, investors, and founders.”
Erla Gunnhildardóttir
Keen to share her insight to help game companies scale efficiently, Gunnhildardóttir says she is looking forward to connecting with fellow industry leaders, investors, and founders at this year’s PG Connects Helsinki. “The Nordic gaming community has always been an inspiration for me, and I look forward to connecting with fellow industry leaders, investors, and founders.”
Lindgren calls PG Connects Helsinki “the perfect sized event and a forum where the global meets the local.” To him personally, it also offers a chance to “learn and contribute to the conversation about what’s next in games and to share what we’ve done and learned so far building Kokoon.”
Tickets are now available for Pocket Gamer Connects Helsinki on October 7th to 8th. Book yours today.
