Modern Times Group net sales double to $315.5m in Q3 2025
| Date | Type | Companies Involved | Key Datapoint |
|---|---|---|---|
| Nov 18, 2025 | report | Modern Times Group (MTG) Plarium | $315.5 million |
- Modern Times Group grew its Q3 net sales by 108% year-over-year, reaching $315.5m.
- Adjusted EBITDA grew 73% to $71.2m.
Modern Times Group has more than doubled its Q3 net sales year-over-year, reaching nearly SEK 3 billion ($315.5 million) in Q3 2025.
This marked growth of 108% over the SEK 1.4bn ($151.9m) recorded in Q3 2024.
Furthermore, the Swedish conglomerate saw 3% growth in net sales quarter-over-quarter, after Q2 2025 also doubled its 2024 forebear.
Adjusted EBITDA grew 73% Y/Y to SEK 675m ($71.2m).
Games, genres and growth
In its latest financials, Modern Times Group highlighted RAID: Shadow Legends for its "very strong Q3" driven by its live ops and a crossover with the Teenage Mutant Ninja Turtles IP.
The MMORPG was bought as part of a $620m deal for Plarium this February, and the acquired studio has since generated more revenue than any single genre in MTG’s wider portfolio during the third quarter, totalling SEK 1.4bn ($150.8m).
PlaySimple was noted for delivering double-digit growth, as the company finally began scaling new word and puzzle games. The word game genre was MTG’s most lucrative outside of Plarium’s business, with revenue up 11% Y/Y, and was followed by strategy and simulation, up 9% Y/Y.
Notably, tower defence revenue fell by 28% but racing revenue grew by 23%.
Another individual title, Warhammer 40,000: Tacticus, was highlighted for its third anniversary event which helped accelerate it to a monthly revenue record this September.
Overall, MTG’s top three games accounted for 51% of revenue during the quarter. 69% of all MTG’s revenue was generated on mobile, while a record 26% of revenue came from DTC platforms. President and CEO Maria Redin noted ongoing regulatory changes which have enabled this opportunity to grow DTC revenue, now "an important part" of the group’s business.
"We have transformed MTG again and again, acquiring exceptional gaming studios and divesting ESL Gaming. Today, we are the largest listed mobile-first gaming group in Europe," she added.
MTG’s Gaming Village will be split into two commercial divisions to bolster growth next year. The group recently ranked among our Top 50 Mobile Game Makers.
Companies
