Ubisoft Reports 31.4% Revenue Drop, Totaling €990 Million
The agency also encountered a 51.8% decrease in salvage bookings throughout its third quarter.
Ubisoft has published its financial results for the 9 months concluding December 31, 2024, showing significant reductions in revenue and salvage bookings.
Nonetheless, the company remains hopeful with the forthcoming launch of Assassin’s Creed Shadows. Pre-sales for the game are reportedly “tracking well” and align with the franchise’s second-best performer, Odyssey.
Here’s what you need to be aware of:
The figures:
For the 9 months ending December 31, 2024
- Revenue: €990 million (down 31.4% year-on-year)
- Net bookings: €944 million (down 34.8%)
- Digital net bookings: €784 million (down 33.8%)
- Back-catalogue net bookings: €762.3 million (down 27.7%)
For the three months ending December 31, 2024
- Net bookings: €301.8 million
- Digital net bookings: €257.4 million
The highlights:
Despite a substantial 51.8% year-on-year reduction in salvage bookings for Q3, Ubisoft pointed out that this aligned with its adjusted forecast of €300 million for the period.
Ubisoft maintains a positive outlook for its next quarter and anticipates a rise in salvage bookings following the release of Assassin’s Creed Shadows on March 20.
Pre-sales of the title are “tracking well,” with CFO Frederick Duguet mentioning in a financial briefing (via PC Gamer) that sales conditions mirror those of Odyssey.
While the company emphasized it has a “strong back catalogue and promising partnerships” to drive growth in Q4, the increase in revenue will depend on the launch of Shadows.
“Early reviews have been encouraging, highlighting its narrative and immersive experience, with both protagonists playing pivotal roles in the game’s storyline, alongside the quality and collaboration of the gameplay provided by the dual protagonist approach,” stated Ubisoft co-founder and CEO Yves Guillemot.
“I want to commend the incredible talent and unwavering commitment of the entire Assassin’s Creed team, who are working diligently to ensure that Shadows fulfills the expectations of what is the franchise’s most ambitious entry to date.”
Looking back at the first 9 months of the fiscal year, Ubisoft recorded 36 million monthly active users across console and PC. Additionally, playtime and session days per player rose by 4% and 7%, respectively.
Ubisoft noted that its online tactical shooter Rainbow Six Siege demonstrated a “resilient performance” throughout Q3 and witnessed an increase in session days per player.
By the end of the quarter, the title achieved its highest monthly revenue per paying user since its launch in 2015.
The Crew Motorfest also recorded its highest monthly player count during the quarter, with session days increasing by 38% year-on-year. The company stated that its “retention and monetization metrics continue to significantly exceed those of The Crew 2 since its launch.”
Regarding its ongoing cost reduction strategy, the company claims it is “ahead of schedule” following recent layoffs at two UK studios – Leamington and Reflections – in addition to Ubisoft Dü.