French games group Ubisoft expects bookings to increase in second quarter
July 20 (Reuters) – French video game group Ubisoft (UBIP.PA) on Tuesday predicted an increase in net bookings for its second quarter as it expands its existing game franchises.
The creator of the hit franchise “Assassin’s Creed” expects net bookings of 340 million euros ($ 400.04 million) for the three months ending in September. This is an increase from 326 million last quarter, which was slightly ahead of its own forecast.
“This quarter, we continued to invest in our biggest brands and technologies with the goal of dramatically expanding reach and audience recurrence,” said Ubisoft co-founder and CEO Yves Guillemot, in a press release.
The pandemic boosted demand for games, boosting Ubisoft’s bookings as gamers stayed home under lockdown. But COVID-related restrictions have also slowed production across the industry, while console manufacturing has been curtailed due to a shortage of electronic components caused by the pandemic. Read more
The company said it plans to expand its brands and bring them to a wider audience through free games on consoles, PCs and mobile – including its Tom Clancy franchise and an unnamed mobile game set to launch. during the quarter ending next March.
On Monday, Ubisoft announced an upcoming free-to-play game – Tom Clancy’s XDefiant – after postponing the release of Tom Clancy’s Rainbow Six Extraction and Riders Republic to October and January, respectively, last week.
He also said he got official approval in China for three titles, including Mario + Rabbids: Kingdom Battle and Tom Clancy’s The Division 2.
“The approvals in China are good news,” said Charles-Louis Planade, analyst at Midcap. “China is by far the biggest market in the world, any success can be a big success for Ubisoft.”
($ 1 = 0.8499 euros)
Reporting by Sarah Morland and Enrico Sciacovelli in Gdansk. Editing by Jane Merriman
Our Standards: Thomson Reuters Trust Principles.