Ubisoft, the big name in French publishing, has announced a significant drop in their revenue for the last quarter of the year. Over the three months ending in December, they saw a 47.5% decline.
According to their Q3 financial figures, Ubisoft pulled in €318.1 million (that’s about $344.2 million), which is nearly half of what they made during the same period the previous year, when they recorded €606.4 million ($637 million). Their net bookings also took a hit, plummeting by 51.8% to €301.8 million.
Digging into those numbers further, their back catalogue accounted for €268 million ($281.6 million), making up 88% of total net bookings, but it’s showing a downward trend compared to last year.
Yves Guillemot, Ubisoft’s CEO and one of the co-founders, addressed investors, saying, “We’re laser-focused on the upcoming release of Assassin’s Creed Shadows, set to launch on March 20.” He mentioned that early feedback has been quite positive, especially praising the story and engaging experience, emphasizing the pivotal roles both main characters play. He also highlighted the solid and complementary gameplay stemming from the dual protagonist feature. Guillemot didn’t forget to shout out to the Assassin’s Creed team, acknowledging their hard work and determination in making Shadows the series’ most ambitious game to date.
On another note, Guillemot touched on the company’s cost-cutting efforts. With disciplined management, Ubisoft is ahead of schedule on their cost reduction goals and is set to surpass their targets by the end of fiscal year 2025. They plan to continue these efforts into fiscal year 2026, aiming to exceed the initial expectations significantly.
Lastly, there’s an ongoing formal review of their strategic options, which was announced earlier this year. The ultimate goal is to optimize the value of their assets for stakeholders while adapting to the rapidly changing market to create standout games. Ubisoft believes there are multiple pathways to achieve this vision.
