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Embracer Group today released their latest financial report, which showed the company had a relatively stable quarter. It reported that net sales had increased by 128%. In addition to its earnings, Embracer also announced how many games it currently plans to launch within the next few years — in particular, it plans to release 94 of its current projects before the end of the 2024 fiscal year (which would be the end of March 2024).
Embracer has spent most of the last few years acquiring companies and IP, with the latter including The Lord of the Rings and Tomb Raider. It already appears to be making use of those acquisitions, as it announced it currently has five Lord of the Rings titles in development. These likely include the upcoming Gollum title.
Out of the 94 games in question, Embracer defines 4 of them as triple-A titles. In its presentation, it listed several of the titles, including Dead Island 2, Remnant 2, Alone in the Dark and Payday 3. It also said later in the presentation that it plans to release 31 triple-A titles before fiscal year 27/28, which ends in March 2028. While it didn’t list all of the titles, it did specify how many projects each of its subsidiaries was working on. 11 games are in development at Saber Interactive and eight are in development at Gearbox.
Embracer mentioned in its report that, despite the apparently rosy sales outlook, not every game has performed well. According to one part of the report, “The profitability in PC/Console in Q3 is also impacted by the amortization of game development costs for titles released with a lower ROI in Q1 and Q2, including the Saints Row reboot. It is a fact that certain operative groups in our PC/Console Games segment have underperformed our expectations this year, largely driven by a sub-par ROI for its new game releases. Rather than a structural shift, we believe it is mainly an effect of mixed reception for several releases, combined with a more normalized market and softer consumer purchasing power this year.”
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There is no guarantee that all 94 of these games will launch by March 2024 — or at all. Game delays became very common during the pandemic, with titles getting pushed back months and even years. Other companies have also cancelled some games in response to economic conditions — Ubisoft recently revealed that it’d canceled three games in the last few months.
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