Reflecting on 2024: A Year of Challenges, Resilience, and Growth

This year has been the toughest year yet for Iron Fox Games. If you had asked me this time last year, I would have told you 2024 was shaping up to be incredible.

• We had a major contract signed and were scaling up our team.

• A significant live ops contract with great friends was underway.

• Our second web game was thriving, with thousands of players logging in daily.

These wins gave us a huge sense of relief as we embarked on one of the hardest travel periods of my life—attending three game shows in vastly different parts of the world within just 10 weeks. By the end of Q1, everything still looked rosy.But then Q2 hit.

• Our major project was canceled.

• Our live ops contract came to an end.

• We had to say goodbye to some amazing team members just to survive the summer.

Through a combination of support from friends, surprise opportunities, and relentless hustle, we made it through. By fall, things began to stabilize:

• A new large project is now underway and nearing shipment.

• Our web games are performing fantastically.

• We’re in deep discussions about several exciting opportunities.

As we close out 2024, I’m proud to share that we’ve slightly exceeded last year’s revenue while keeping operational costs flat. This even allowed us to give our employees a small bonus before Christmas—a gesture that means the world after such a challenging year. Looking Ahead: My Predictions for 2025

1. More Devs Will Pivot to HTML5

   • In 2024, 90% of our revenue came from web games or similar projects. I see this trend continuing in 2025, with more studios gravitating toward this space.

2. The Bottom is In, but Pain Isn’t Over

   • Interest rates are coming down, YoY numbers are improving, and acquisitions are picking up again (including some big ones). However, studio closures and layoffs will continue for those who haven’t adapted their strategies. That said, hiring will soon outpace layoffs as the industry stabilizes.

3. Small Teams Will Move Mountains

   • With AI tools improving rapidly and smaller projects like Ballatro succeeding, small teams will have an outsized impact in 2025. We’ll see more indie games shine compared to big-budget blockbusters.

I’ve attached a version of the deck we shared with our team that highlights our journey this year, our plans for the future, and what we’re looking for as we move into 2025.Here’s to resilience, growth, and new opportunities in the year ahead! 🚀

Iron Fox Games - Jingle Jam - 2024 - Public (2).pdf

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