Ubisoft surpasses expectations with growth in back-catalogue sales, digital revenue, and bookings during the first quarter of FY 24-25
Ubisoft's financial report for the first quarter reveals substantial growth, highlighting a 15% increase in game session days on consoles and PCs, with a significant push from games-as-a-service models (GaaS).
The publisher noted a promising start for XDefiant, achieving 10 million players, and a robust performance from Rainbow Six Siege, propelling a 7% rise in monthly active users (MAU) to 38 million compared to the previous year.
Q1 results were further buoyed by the success of Assassin's Creed Shadows pre-orders and renewed interest in older franchise titles. Meanwhile, The Crew Motorfest maintained strong engagement, contributing to a 24.6% rise in player recurring investment (PRI), reaching 158.7 million.
Key figures for the quarter ending June 30, 2024 include:
The numbers
- Sales: €323.5 million (a 12.0% increase year-on-year)
- Net bookings: €290.0 million (an 8.3% rise)
- Digital net bookings: €257.2 million (up 6.6%)
- Back-catalogue net bookings: €249.5 million (a 1.5% increase)
The highlights
Console-based game bookings held steady at 50% of Ubisoft's total net bookings, while the share from PC games declined from 31% to 27%. Mobile game bookings remained unchanged year-on-year, although other revenue streams, including ancillary sales, rose from 9% to 13%.
Regional breakdowns showed stable performance, with Europe, North America, and other regions contributing 32%, 53%, and 15% of net bookings, respectively.
Upcoming releases in the second quarter (July-September 2024) feature expansion packs such as Avatar: Frontiers of Pandora: The Sky Breaker Story Pack and Prince of Persia: The Lost Crown Mask of Darkness DLC.
Full game releases expected include Monopoly 2024 and Star Wars Outlaws. Additionally, new seasons are planned for Riders Republic, For Honor, The Crew Motorfest, Skull and Bones, Rainbow Six Siege, and XDefiant.
Second-quarter net bookings are forecasted at approximately €500 million, with major titles like Assassin's Creed Shadows and Star Wars Outlaws on the roster for 2024-25.
However, Rainbow Six Mobile and The Division Resurgence will not launch in FY25 as more development time is required to meet market expectations and optimize key performance indicators (KPIs).
Yves Guillemot, Ubisoft's co-founder and CEO, commented, "We started the year strong with net bookings surpassing targets, affirming our strategic direction. The launch of XDefiant has shown potential, with a continuous growth strategy and a planned content roadmap to solidify its long-term success. Our Ubisoft Forward event showcased content aligning with our focus on Open World Adventures and GaaS-native experiences."
He added, "Presentations of our upcoming titles, Star Wars Outlaws and Assassin’s Creed Shadows, received praise for their gameplay and highlighted the advanced capabilities of our game engines. As we move forward in FY25, our priority is on the successful launch of these new promising titles, aiming to establish them as enduring value drivers for Ubisoft while continuing organizational transformation. We are optimistic about the future and confident in our steady progress this year."
