Apex Legends Becomes Eletronic Art's Main Source of Revenue
Eletronic Arts, the company behind Respawn Entertainment and titles like Apex Legends, has revealed big plans for the future of their franchises, including the titles that will receive financial boosts and the numbers behind their current IPs.
In its latest financial report for the fourth quarter and the end of the fiscal year, EA emphasized heavily the ongoing triumph of its live service games and offered a glimpse into the progression of the new Battlefield sequel.
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The live service portfolio of EA features Apex Legends very prominently, boasting a robust lifetime net booking of $3.4 billion. Signaling its presence in the gaming industry is the key factor behind EA’s new investments. Furthermore, The Sims 4 continues to thrive with an impressive 85 million-strong player base, recording double-digit annual growth over the last few months. Collectively, The Sims series has clocked over 500 million downloads across multiple platforms, with an ambitious plan to roll out 15 content updates for The Sims 4 within this year. |
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With The Sims and Apex Legends boosting EA's financial gains, the company now aims to thread unmarked territory as they intend to bring Battlefield back to the spotlight and start new projects, unlike what they've done so far.
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The CEO of EA expressed his enthusiasm for the advancements made by the teams involved in the Battlefield initiative, highlighting their commitment to crafting a game experience that resonates deeply with the player base. Financially speaking, EA's live services have experienced an annual surge in the upper teens, particularly in the international football franchise, thanks to popular games like FC Ultimate Team and FC Mobile. Nevertheless, there was a 2% decrease in net bookings, amounting to $5.43 billion year-over-year, mainly due to the phasing out of Apex Legends Mobile. |
Overall, EA's fiscal report for 2024 showed growth, with total net bookings reaching $7.43 billion, indicating a 1% year-over-year increase. Even though Q4 figures indicated a marginal decline in net bookings and net revenue compared to the previous year, EA remains confident about its new opportunities. Recent investments in live services like Apex Legends and the eagerly anticipated Battlefield project fuel this optimism. Apex recently joined the Esports World Cup, marking another achievement for the company.
On the bright side, full-game net bookings increased by 11% year over year, reaching a total of $2.01 billion. Blockbuster games like Star Wars Jedi: Survivor and other titles from the EA Sports catalog primarily drove this rise. Additionally, there was a mild, yet noticeable, 2% climb in net revenue year-on-year, totaling $7.56 billion.
On the flip side, the fourth quarter didn't fare as well. There was a 14% drop in total net bookings compared to the same period last year, resulting in a figure of $1.67 billion. The timing of game releases largely contributed to the downturn in full-game net bookings, which ended at $259 million. This quarter's live services contributed $1.41 billion, but the quarter's net revenue also experienced a 5% year-on-year dip, finishing at $1.78 billion.
EA considers this a growing year despite a few minor hiccups, but we can expect Apex Legends to continue carrying the organization over the next couple of years.
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