Modern Times Group (or MTG), the media holdings company that owns and operates developers such as Ninja Kiwi and Inno Games, has released their Q3 financial data. Since MTG began releasing their esports holding and declared their intention to become a “pure play mobile gaming company”, many have been watching to see how their financials will turn out as it pivots more towards mobile gaming.
A major point in their reported financials was their decision to institute a 400m Krona share repurchase program. Typically done to boost financials and when markets are in an upswing in order to help consolidate control in the company, they have now reported organic growth of 4% and pro forma growth of 6%.
Show me the Krona
In mobile gaming terms, MTG looks at the expansion of their gaming franchises under their owned studios. Specifically pointing to Ninja Kiwi’s Bloons tower defence franchise and InnoGames Forge of Empires. Although MTG remains cautious of the effects a global recession may have, they’re also optimistic that the mobile gaming industry will remain strong in the face of this and continue to grow.
InnoGames’ success was placed squarely on the popularity of their seasonal events which has become a trend of late.
We have only recently reported on the success of seasonal events in titles like World of Tanks: Blitz. Meanwhile, Ninja Kiwi’s introduction of new updates and a price increase to their Bloons TD6 title was pointed to as a key benefactor.
MTG’s continued focus on mobile games comes in the wake of their selling many of their esports holdings such as the sale of ESL Gaming to Saudi Arabian Savvy Games Group. They’ve also made efforts to streamline operations across the company with their new “Flow Platform” system to simplify operations, as well as a Business Intelligence Framework to standardise data handling.
Overall – compared to companies like CyberAgent which have seen a dent in their revenue due to outside forces – MTG appears to be remaining steady in their growth. Their repurchase of shares also indicates a consolidation of their existing assets and control of the company, and may herald further big moves to come.