Embracer Group saw 19% drop in revenue compared to last year
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Key points
- The total revenue for the Embracer Group dropped 19% compared to last year, amounting to roughly $407.4 million.
- PC and console games revenue dropped 13% to $196 million.
- Mobile gaming revenue dropped 61% to $56.6 million.
Embracer Group published its financial report, indicating a sharp 19% decline in total revenue when compared to last year, bringing in a total of roughly $407.4 million. The PC and console games revenue dropped 13% to $196 million, while the mobile gaming revenue plummeted 61% to $56.6 million.
Several games released between July and September showed weak results, according to Embracer Group. Examples of such titles are Frosthaven, Echoes of the End, and Metal Eden. Even Killing Floor 3 sales were below expectations.
The non-gaming entertainment and services segment is the only area to see revenue growth, increasing 17% to $154.7 million. The company saw staff reductions this year, losing 293 employees, with 6,935 total employees.
Embracer Group is known for numerous AAA franchises, including Kingdom Come: Deliverance, Tomb Raider, Deus Ex, and more. The media holding company is one of the largest and most diversified entities in the global gaming industry, and was organized into a number of operative groups, including THQ Nordic, Plaion, Coffee Stain Studios, Dark Horse Media, and more.
