Ubisoft has announced financial results for the first nine months of fiscal year 2024 ended December 31, as well as separately for the last quarter. During this period, the company's revenues decreased by 31.4% compared to the same period last year, GameIndustry.biz reports.
Ubisoft's revenue for the first nine months of 2024 amounted to €990 million, down 31.4% compared to 2023. Net bookings, which include monetary amounts and order units minus cancellations and deletions, reached €944 million, down 34.8%.
In Q3 2024, Ubisoft's bookings fell by 51.8% to €301.8 million. Although this is twice the result compared to the same period in 2023, the company notes that these figures are in line with forecasts. Ubisoft is optimistic about Q4 and has high hopes for Assassin's Creed Shadows, whose pre-orders have reached the level of Odyssey.
"Early previews have been positive, praising its narrative and immersive experience, with both characters playing critical roles in the game's storyline, as well as the quality and complementarity of the gameplay provided by the dual protagonist approach," said Yves Guillemot, CEO and co-founder of Ubisoft.
Ubisoft also reported that in the first nine months of fiscal year 2024, the company had 36 million active monthly players on PC and consoles. The total playing time and the number of game sessions in the company's projects per day increased by 4% and 7%, respectively.
The company noted that Rainbow Six Siege demonstrated excellent results in Q3 and the game is expected to continue to grow, in particular due to the relaunch of Rainbow Six Siege X. At the end of the third quarter, the project reached its highest average monthly revenue since its release in 2015. Another successful Ubisoft game in Q3 was The Crew Motorfest, which reached its highest monthly player count ever.
One of the most important parts of the financial statements was the announcement of further cost reductions: in December, Ubisoft closed its London studio and laid off about 185 employees. The company notes that the cost reduction is faster than expected, and the entire process is expected to be completed by the end of fiscal year 2025, although the restructuring is ongoing.