revenue decline Archives

AppWizard

March 1, 2025

Games revenue dipped 53% at Warner Bros during 2024

Warner Bros reported a 53% drop in revenue for its gaming division in 2024, as disclosed in its 10-K filing with the SEC. The overall content revenue declined by eight percent, primarily due to the decrease in gaming revenue, which saw a 29% year-on-year drop in the final quarter of 2024. The decline is attributed to underperforming titles in 2024, following the success of previous releases like Hogwarts Legacy and Mortal Kombat 1. The company plans to close several studios, including Monolith, Player First, and its San Diego studio, and will focus on four key franchises: Harry Potter, Game of Thrones, Mortal Kombat, and DC Comics. Warner Bros aims to restore profitability to its Games division by 2025 and enhance its contribution to the company's growth.

AppWizard

February 15, 2025

Epic Games Store hits nearly 300 million PC users in 2024

Epic Games' store has attracted 295 million users on PC and nearly 900 million cross-platform accounts, marking an increase of approximately 100 million users from the previous year, with an average of 67 million monthly active users (MAUs). However, revenue from third-party game sales on PC has declined by 18% year-over-year, dropping from 0 million to 5 million. Overall revenue has increased from 0 million to .09 billion, largely due to Epic's own titles. The top three titles on the platform are Free-to-Play games: Genshin Impact, Rocket League, and Honkai Star Rail, with Grand Theft Auto V being the first paid title on the list. Epic plans to enhance its mobile applications and add features like voice chat and out-of-game invites to the PC client. Concerns remain about the sustainability of third-party game sales as Epic's revenue increasingly relies on its own franchises.

AppWizard

February 5, 2025

Revenue and bookings dip at EA for Q3

Electronic Arts reported a year-on-year decline in revenue and net bookings for the quarter ending December 2024. The company generated .88 billion in revenue, a three percent decrease compared to the previous year, while net bookings fell six percent to .22 billion. CEO Andrew Wilson expressed disappointment over the financial outcomes, citing underwhelming performances from key titles like EA Sports FC 25 and Dragon Age: The Veilguard. He acknowledged that the results did not meet the company's aspirations.

AppWizard

August 9, 2024

Revenue down 16% for Unity’s Q2

Unity reported a 16% decline in revenue for its second quarter, generating 7 million for the three months ending June 30, which exceeded the company's guidance of 0 million to 0 million. The Create Solutions segment saw a 4% year-on-year increase, totaling 1 million, with the gaming sector growing by 14%. The Grow Solutions segment experienced a 9% decline, totaling 6 million. Unity reduced its net loss from million last year to million this quarter. CFO Luis Visoso is departing, with Mark Barrysmith serving as interim CFO. CEO Matthew Bromberg emphasized plans for product innovation and improving company culture.

AppWizard

August 9, 2024

Warner Bros execs pine for the Hogwarts Legacy glory days as games revenue plummets 41% thanks to Suicide Squad’s abysmal performance

Rocksteady's game, Suicide Squad: Kill The Justice League, has underperformed, leading to a 41% decline in games revenue for Warner Bros in Q2 2024 compared to the same quarter last year. The game cost Warner Bros 0 million to develop, exceeding the production budget of the 2016 film by 0 million. Despite plans for four seasons of content, the game has struggled to attract a substantial player base, raising concerns about its future. Warner Bros is committed to completing the game's roadmap, but the industry is known for its low tolerance for underperforming titles.

AppWizard

July 31, 2024

Net revenue down 17% for EA’s Q1

Electronic Arts (EA) reported a net revenue decline of 17% for the quarter ending June 30, with net revenue at .66 billion, down from .92 billion the previous year. Approximately .4 billion of this revenue came from live-service titles, while full game sales contributed [openai_gpt model="gpt-4o-mini" prompt="Summarize the content and extract only the fact described in the text bellow. The summary shall NOT include a title, introduction and conclusion. Text: In a recent financial update, Electronic Arts (EA), the renowned US publishing powerhouse, reported a net revenue decline of 17% for the quarter ending June 30. The company disclosed that its net revenue reached .66 billion, a decrease from .92 billion in the same period last year. A significant portion of this revenue, approximately .4 billion, was derived from live-service titles, while full game sales contributed 0 million. Performance Insights Despite the overall revenue dip, EA's net bookings stood at .26 billion, reflecting a 20% year-on-year decline, although it surpassed the company's own guidance. EA's CEO, Andrew Wilson, expressed optimism about the company's trajectory, stating, “EA delivered a strong start to FY25, beating net bookings guidance as we continue to execute across our business.” He emphasized the company’s commitment to creating “bigger, bolder, and more connected experiences” for players, highlighted by the record-breaking launch of EA Sports College Football 25. Adding to this positive outlook, EA's CFO, Stuart Canfield, remarked, “Strong execution, live events, and continued player engagement across our experiences delivered Q1 results above expectations.” He pointed to the impressive launch week for College Football and the anticipation surrounding upcoming titles such as EA Sports Madden NFL, EA Sports FC, and Dragon Age: The Veilguard as key drivers for momentum in FY25 and beyond. Canfield concluded that EA is well-positioned to achieve its multi-year financial objectives." max_tokens="3500" temperature="0.3" top_p="1.0" best_of="1" presence_penalty="0.1" frequency_penalty="frequency_penalty"] million. EA's net bookings were .26 billion, reflecting a 20% year-on-year decline, but exceeded the company's guidance. CEO Andrew Wilson noted a strong start to FY25, driven by the launch of EA Sports College Football 25, while CFO Stuart Canfield highlighted strong execution and player engagement as factors that delivered better-than-expected Q1 results. Upcoming titles like EA Sports Madden NFL, EA Sports FC, and Dragon Age: The Veilguard are anticipated to drive momentum for the company.