Starting a Game Studio
Väänänen, Samuel (2020)
Väänänen, Samuel
2020
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-202005098110
https://urn.fi/URN:NBN:fi:amk-202005098110
Tiivistelmä
The purpose of this thesis was to create a theoretical foundation for starting a game studio by researching the game industry and business planning, and to follow the process of starting a game studio in practice all the way from creating a business plan to starting the business.
At first, the global games market was overviewed along with game industry trends of today and tomorrow. Game market generates the biggest revenue in the entertainment industry, and all of its segments are growing. Important trends of the game industry include the rise of indie, games as a service, mobile gam-ing, customers’ role as co-creators of value, and immersive technologies.
Starting a business starts with planning. Business model is a conceptual tool for planning and analyzing businesses. It helps to consider all factors that affect success. Business plan is an all-encompassing plan for a business. An entrepreneur planning their business can ask themselves the following questions: What are we offering? Who are we seeking to serve? How will we interact with our customers? How will we survive against competition? How will we make profit?
Value proposition is the bundle of products and services that the company offers to its the customers. There is more than one way to create value for a game product. New product success depends on provid-ing unique value to customers. Customers are a specific group of people within a specific market that the company seeks to serve. In the game industry, customers can be segmented in many ways. Understanding the needs and wants of the chosen customer segment is vital. Channels are customer touch points for marketing, sales and distribution. Active and successful communication plays an important role in game business. The game industry is extremely competitive. A strategy is a plan that the company uses to create and achieve competitive advantage. Companies can experiment with different strategies and their combi-nations to maximize their business opportunities. The finances of a company should be planned in a way that the resources available can be directed to the critical factors that make success possible. Financial management of a company includes organizing accounting and taking care of funding. The sources of fund-ing in the game industry include cash-flow financing, entrepreneur’s own wealth, public and private fund-ing, early access and crowdfunding. Selecting the most suitable monetization model and optimal pricing are essential for success.
Finally, the thesis followed the process of starting a game studio step by step. It included getting to know the industry and the business world and orienting for entrepreneurship, brainstorming for ideas and cre-ating a business plan, registering the company and opening accounts for it. The conclusion of this thesis was starting a game studio, and the creation of a manual that others who wish to start a game studio can benefit from as well.
At first, the global games market was overviewed along with game industry trends of today and tomorrow. Game market generates the biggest revenue in the entertainment industry, and all of its segments are growing. Important trends of the game industry include the rise of indie, games as a service, mobile gam-ing, customers’ role as co-creators of value, and immersive technologies.
Starting a business starts with planning. Business model is a conceptual tool for planning and analyzing businesses. It helps to consider all factors that affect success. Business plan is an all-encompassing plan for a business. An entrepreneur planning their business can ask themselves the following questions: What are we offering? Who are we seeking to serve? How will we interact with our customers? How will we survive against competition? How will we make profit?
Value proposition is the bundle of products and services that the company offers to its the customers. There is more than one way to create value for a game product. New product success depends on provid-ing unique value to customers. Customers are a specific group of people within a specific market that the company seeks to serve. In the game industry, customers can be segmented in many ways. Understanding the needs and wants of the chosen customer segment is vital. Channels are customer touch points for marketing, sales and distribution. Active and successful communication plays an important role in game business. The game industry is extremely competitive. A strategy is a plan that the company uses to create and achieve competitive advantage. Companies can experiment with different strategies and their combi-nations to maximize their business opportunities. The finances of a company should be planned in a way that the resources available can be directed to the critical factors that make success possible. Financial management of a company includes organizing accounting and taking care of funding. The sources of fund-ing in the game industry include cash-flow financing, entrepreneur’s own wealth, public and private fund-ing, early access and crowdfunding. Selecting the most suitable monetization model and optimal pricing are essential for success.
Finally, the thesis followed the process of starting a game studio step by step. It included getting to know the industry and the business world and orienting for entrepreneurship, brainstorming for ideas and cre-ating a business plan, registering the company and opening accounts for it. The conclusion of this thesis was starting a game studio, and the creation of a manual that others who wish to start a game studio can benefit from as well.