Smaller game titles stretched by delays in crowded market, Embracer CEO says [Yahoo! Finance]
UBISOFT ENTMT UNSP/ADR (UBSFY)
NASDAQ:AMEX Investor Relations:
ubisoft.com/en-us/company/investor_center/index.aspx
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Source: Yahoo! Finance
said on Thursday, as publishers face mounting costs and fewer new releases amid market saturation. Embracer, a major force in the gaming industry, owns more than a hundred studios worldwide and is known for popular game franchises like Tomb Raider, The Lord of the Rings and Kingdom Come: Deliverance. "Games development have been taking longer time for most companies in the industry to complete to the quality needed," CEO Lars Wingefors told Reuters, adding that particularly small and mid-sized titles were struggling with delays and underperformance. This trend puts pressure on companies' fixed cost bases, resulting in narrower or negative profit margins if new content fails to fill the pipeline. Embracer, like other gaming groups, benefited from growing demand for video games during COVID-19 lockdowns, but has since been hit by development delays, falling demand and poor reception for some of its new titles. It confirmed on Thursday that some of its releases would move past
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