Why is it necessary to adopt a strategy to finance your video game?
Determining the financing strategy for your video game from the idea phase is essential. The articulation of the different financing mechanisms allows you to anticipate the lack of money and to continue the production of the game serenely.
A good strategy also identifies different financing schemes. If the initial plan (plan "A") fails, a second plan can be immediately triggered (plan "B") without the need for an emergency dive into the various sources of funding available.
Video game developers are at a loss when it comes to funding options
Many funding mechanisms exist, both private and public. On the private side: love money, bank loans, crowdfunding, fundraising, loans of honour, business angels, publishers, early access, etc. On the public side: subsidies, loans of honour, tax relief, tax credits, etc.
To play with these funds, you first need to know the rules of the game for each. And the least we can say is that the gamedesign of funding is designed for hardcore gamers. However, knowing them well allows you to determine if they are adapted to your project and when to ask for them.
Understanding the intricacies of these financings requires long hours of research that usually ends with a "it depends". While this can be a frustrating conclusion, a good funding strategy is indeed dependent on the characteristics of your company.
BigWhoop determines the best possible strategy
The BigWhoop agency offers to help you establish a financing strategy for your video game project. Depending on your available resources, the characteristics of the project and the founders of the studio, the funding strategy will be different.
Funding levers will have a variable probability of being granted depending on whether the project is a mobile game or a PC / Console game. Monetisation is also a factor that should not be overlooked. The funding arguments for a GaaS (Game as a Service) or Premium game (purchase of the whole game) are different.
With the help of an experienced advisor (more than 10 years of experience in the video game industry), we help you understand the different financing levers and those adapted to your project. This first approach is completely free of charge and requires between one and two hours of exchange per video.
A summary with a timetable for triggering the different sources of funding can be produced on request (ask for a quote before the meeting). This summary is useful in order to change your strategy according to the events you will encounter. For example, rapid growth or, on the contrary, a longer than expected development.
We also advise you not to stop at establishing a financing strategy. Think about drawing up a business plan in order to evaluate the projected costs of your project (more about the business plan).
