Keywords Studios had revenues of $441 million in 2020

"As we enter 2021, we are very confident in the Group's opportunity for growth"

Keywords Studios had revenues of $441 million in 2020

Keywords Studios' revenue grew 14.4 per cent to €373.5 million ($441 million) in 2020.

Moreover, the company's earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew 28.8 per cent year-on-year to €74.2 million ($87.6 million).

Overall, 21.4 per cent, €80 million ($94.5 million) of services provider's earnings came from games development, which is an increase of 20.7 per cent from 2019. Next, functional testing generated 21 per cent of total earnings with €78.5 million ($92.8 million).

Meanwhile, having grown 31.4 per cent year-on-year, art creation and marketing generated €57.3 million ($67.7 million), or rather 15.3 per cent of total revenue.

"The Group achieved a strong performance in a year that was heavily impacted by the global pandemic and, on behalf of the Board, we are prouder than ever of the dedication of all our talented Keywordians through this challenging year," said Keywords Studios interim CEO Jon Hauck.

"We reacted with agility to fundamental changes to our ways of working, whilst continuing to deliver the excellent service that our clients have come to expect. "

To the future

Hauck continued: "As we enter 2021, we are very confident in the Group's opportunity for growth due to the continued trend towards outsourcing and an increased focus on content creation in a growing video games market.

"This, combined with our ability to increase our market share and to selectively acquire high-quality businesses, will allow us to further cement our position as the 'go to' provider of technical and creative services to a global client base."

Recently, Keywords took its first steps into the Australian market as it invested in Tanalus Media.

Staff Writer

Kayleigh is the Staff Writer for Besides PGbiz and PCGI she has written as a list writer for Game Rant, rambling about any and all things games related. You can also find her on Twitter talking utter nonsense.