Ubisoft Reveals $324m Revenue Report For Q1 of 2022
Ubisoft, the video game titan behind the likes of Rainbow Six and Assassin’s Creed, has published a financial report covering its first fiscal quarter. In the three-month period that ended on June 30th, Ubisoft reported a net bookings figure totalling some $324.4 million, ahead of target but down 10% year-on-year. It was revealed in the report that this revenue was driven up by ‘better than expected’ performance of Assassin’s Creed and Rainbow Six Siege.
While Ubisoft has had a fairly strong start to 2022, drops were noticed across most areas of the business, ranging from back-catalogue bookings to digital sales. There are high expectations for the year ahead, however, with Ubisoft’s leadership expecting to secure around $414m in revenue for the full fiscal year that will end in March of 2023. At present, Ubisoft boasts an overall valuation of just over $5.2 billion, and while the organisation has had a rocky year or two, there’s still plenty in the pipeline.
What’s The Outlook For Ubisoft?
Recently, there have been whisperings on social media regarding a potential Ubisoft buyout. Following the slew of acquisitions by both Microsoft and Sony, it has been rumoured for some time now that Ubisoft might be bought out by Sony Interactive Entertainment, but there’s nothing concrete to back that up. In the last few years, Ubisoft has found itself amidst waves of controversy surrounding the operations within the company, a situation that led to share prices plummeting and stockholders wavering.
Furthermore, we’ve seen a number of projects either delayed or cancelled entirely by Ubisoft in recent weeks. For instance, the Avatar project, an ambitious title, was pushed back from 2022 to an undefined 2023 – 2024 launch window. In recent days, the French firm also confirmed the cancellation of four projects, including a Splinter Cell VR experiment and Ghost Recon: Frontlines.
With that being said, there is plenty in the pipeline for Ubisoft right now, including an expansion into mobile territories that is expected to produce remarkable results for the firm. At present, testing is underway for Rainbow Six and The Division mobile products, as well as for a free-to-play product named The Division: Heartland. This year, players are also set to receive Mario Rabbids: Sparks of Hope and Skull and Bones, both highly anticipated titles.
In the first quarter of 2022, Ubisoft reported that the Assassin’s Creed and Rainbow Six brands have driven growth much better than originally anticipated. As Rainbow Six Siege enters its seventh year of operation, it remains one of the most exciting esports products on the market. For Assassin’s Creed, several rumours concerning two upcoming titles are stoking the flames, and players are finding themselves revisiting back-catalogue titles like Origins, Odyssey, and Valhalla.
When this information was revealed on July 21st, Yves Guillemot, the CEO of Ubisoft, spoke highly of the upcoming content:
As our teams are intensely focused on delivering memorable experiences to players across platforms, business models and geographies, we continue to work on the richest pipeline in the Company’s history. We have an unprecedented opportunity to leverage the strength of our IPs to a significantly wider audience. The new high-value mobile partnership for one of our brands reflects the powerful appeal of our brands for the fast-growing AAA mobile segment. It also provides our teams with more time to fully realize their creative vision and deliver high-quality experiences for our fans, while at the same time increasing our visibility for both 2022-23 and 2023-24.
There’s likely a bright future in store for Ubisoft, provided the firm can deliver on its flagship titles. There’s a strong desire in the Assassin’s Creed community to receive a more traditional experience, and Skull and Bones has been a long-awaited, highly-anticipated title for several years. Should Ubisoft tick all the boxes with these impending launches, we could see considerable growth from the firm moving into Q2 and Q3.