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“Türkiye’s Gaming Revolution: Unveiling a New Powerhouse in the Industry”


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ISTANBUL

The gaming startup ecosystem of Türkiye has gained significance on the worldwide stage, propelled by a combination of high-profile exits, considerable investments, and inventive entrepreneurs.

The sector’s transformation from its modest origins highlights its extraordinary path to a flourishing ecosystem.

The origins of Türkiye’s gaming sector trace back to the early 2000s, when initial digital games such as Backgammon appeared on platforms.

Prior to 2010, Türkiye’s gaming ecosystem was largely constructed on self-funded initiatives, devoid of venture capital (VC) firms, angel investment networks, or institutional funding support, other than a single Fund of Funds (iVCi).

The situation changed with the emergence of external investments in 2009 and 2010, stimulating the growth of startups like Peak Games (subsequently acquired by Zynga), Markafoni (later acquired by Naspers), and Trendyol (ultimately acquired by Alibaba).

These triumphs established the groundwork for a vigorous VC-backed startup ecosystem.

Mobile gaming has become the primary platform in Türkiye, boasting 44 million players in 2023.

Dream Games, a leader in the field, captured the largest portion of investments in 2021 and 2022.

Burak Yılmaz, CEO of the Istanbul-based gaming firm Weplay Ventures, informed Anadolu Agency that Türkiye ranks among the top nations worldwide regarding mobile gaming.

Turkish firms are generating more revenue than American and Israeli companies in mobile gaming, Yılmaz stated.

“Particularly over the last decade, the mobile game ecosystem developed at an impressive pace. Currently, we have over 500 game companies in Türkiye,” remarked Barış Özistek, chairman of Istanbul-based gaming company Joygame.

In contrast to the mobile gaming industry, console and PC gaming have seen declines, with player counts decreasing to 11 million and 20 million, respectively.

Peak Games’ $1.8 billion acquisition by Zynga in 2020 marked a pivotal moment for Türkiye’s gaming sector as the nation’s first unicorn.

Yılmaz mentioned that 20 gaming companies emerged from Peak Games following the company’s exit in 2020, asserting that the development of this industry as a “stable” sector is a “process that might require some time.”

Özistek supported these views, reflecting on the industry’s growth since Joygame’s acquisition by South Korean giant Netmarble in 2013.

“That was the first occasion a game company successfully exited Türkiye. And it marked the initial time a global, multinational gaming company invested in that region, encompassing not just Türkiye but also Eastern Europe and the Middle East.”

Today, Istanbul serves as a driving force behind this swift growth, being Europe’s second-largest gaming hub by studio density, only behind London. This expansion is bolstered by 13 game-focused venture funds and accelerators that offer early-stage financing and strategic direction, enabling local talent to scale their businesses effectively.

Yılmaz remarked that the Turkish gaming market, estimated at around $1.5 billion, is on track to surpass $2 billion in the next two years.

“Türkiye will continue to expand,” Özistek asserted.

He noted that the country holds an increasing share of the global market, projected to total $205-210 billion in 2024, due to its “very successful companies that are growing significantly each year.”

economy,


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