Ubisoft Reports Weaker Performance in Mobile Gaming Sector
In their recent financial report, Ubisoft reveals that their mobile gaming division has experienced a decline in performance compared to the previous year. Despite generating a net booking of €267.7 million ($298 million) in Q1 of the 2023-2024 fiscal year, mobile gaming only accounted for 10% of the company’s portfolio, equivalent to $29.8 million. This represents a slight decrease from the 12% share it held in Q1 2022.
Although mobile gaming plays a smaller role within Ubisoft’s overall ecosystem, it has garnered significant attention due to the company’s partnership with Tencent. The Chinese tech giant acquired a 49.9% stake in Ubisoft’s parent company, Guillemot Bros, last year.
Yves Guillemot, the CEO and co-founder of Ubisoft, acknowledges the potential of mobile gaming and highlights the progress made during the quarter. He states, “Our test phases for our free-to-play titles provided valuable data to our teams as they prepare for their release. We also announced that Level Infinite will be publishing Assassin’s Creed Codename Jade on mobile. This partnership demonstrates the strong appeal of our brands and the significant value created through our collaboration with Tencent. It expands our mobile presence in the medium term and generates financial benefits for both Ubisoft and our shareholders.”
The Bright Future of Mobile Gaming
Assassin’s Creed Codename Jade represents a major milestone for Ubisoft’s mobile gaming division. The collaboration with Level Infinite is considered one of the industry’s most significant publishing deals, reflecting the strength of Ubisoft’s brands in a market with a scarcity of high-quality IPs. Additionally, Tencent’s position as a leader in the mobile gaming segment further confirms the potential of Ubisoft’s IPs in the free-to-play market.
As one of the top 50 mobile game makers of 2022, Tencent continues to exert its influence in the industry. Stay tuned for our upcoming list of the top mobile game makers of 2023.