G5 Entertainment Report: Company revenue and profit fell, G5 Store revenue increased
G5 Entertainment has summarized the financial results of the third quarter of 2023. We have selected the main thing from the report.
In July-September, G5 earned 326.6 million Swedish kronor ($29.8 million), which is 9% less than in 2022.
Of this amount, 12% was brought by the G5 Store. It should be noted that last year its share in the company's revenue was much less — 4.9%. The store's revenue for the year jumped by 20%, if you count in Swedish kronor, and by 126%, if you count in dollars.
Gross profit of G5 fell by 9% to 222.3 million Swedish kronor ($20 million).
As G5 explains, the company's revenues have fallen due to the difficult situation in the gaming market and the lack of new releases.
The Hidden Epee puzzle released last year did not meet expectations, and G5 switched it to the "harvest" mode.
G5 is going to release a new game for global release before the end of the year. Also, 37 of the company's games are currently at the stage of checking the idea and testing, but not all of them will make it to release. In the report, G5 recalled that it intends to release five to six games annually in the softlonch, and one or two in the release.
In the third quarter, the average monthly active audience for G5 games was 4.9 million people, a decrease of 27% year-on-year. The average daily active audience fell by 17% to 1.5 million people, and the number of paying players fell by 15% to 154.4 thousand people.
