PETALING JAYA: Malaysia’s digital games industry recorded RM45 million in sales and exports between 2014 and 2024 through government funding support, demonstrating the potential for the industry to expand in market access, incubators, conferences, workshops, and upskilling and reskilling programmes, among others.
Digital Minister Gobind Singh Deo said Malaysia Digital Economy Corporation (MDEC) received an allocation of RM163 million from the Digital Content Fund between 2014 and 2024 to implement and manage financial assistance for the animation, digital games, digital comics and creative technology content industries.
“To date, MDEC has approved 60 projects, allocating RM36.7 million specifically for digital gaming development across computer, console, and mobile platforms. These projects have successfully created over 700 job opportunities,“ Gobind said in response to Syahredzan Johan (PH-Bangi) asking about local digital games that have received funding from MDEC.
According to Newzoo’s Global Games Market report, the global digital games market is estimated to reach US$187.7 billion (RM818 billion) in revenue by 2024. This figure is projected to rise to US$213.3 billion by 2027 with a compound annual growth rate of 3.1% (2022-2027).
MDEC has provided platforms and opportunities for companies to explore market access.
Key gaming markets frequently engaged include the Games Developer Conference in the United States, Tokyo Game Show in Japan, China Joy in China, and Gamescom in Europe.
Gobind noted that digital game companies have the opportunity to promote their products and build business relationships with digital game publishers and distributors regionally and internationally.
“Local digital games are also promoted at events such as the Saya Digital Roadshow, Malaysia Digital Content Festival, Comic Fiesta, and more. The Malaysia Digital Content Festival, encompassing Level Up KL, Kre8tif!, and IMMERSE KL, is a significant annual event for the digital content business network in Malaysia and Southeast Asia,“ he added.
Gobind said animation is also a vital component of digital game production, which the Digital Ministry supports through MDEC.
“Several animation companies have excelled in this field, including Kucingko Bhd, listed in the ACE Market of Bursa Malaysia in July 2024,” he noted.
Furthermore, he said, digital games industry stakeholders, including the government, telecommunication companies and other technology organisations, are taking initiatives to provide programmes to nurture gaming and esports talent.
Malaysian government agencies, particularly MDEC, have also provided incentives and support to game creators, encouraging more to start and grow game development companies. Programmes such as the Digital Content Grant, Digital Content Creators Challenge, and the Pemangkin IP360 Metaverse initiative are key examples of initiatives that encourage game development.
