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Ubisoft posts record bookings for FY24 as mobile division shrinks

Mobile accounted for 4% of net bookings
Ubisoft posts record bookings for FY24 as mobile division shrinks
  • “Our upcoming Ubisoft Forward event on June 10th will further showcase our innovative games and our dedication to consistently creating and delivering high-quality, long-lasting experience for players," said CEO Yves Guillemot
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Net bookings for Ubisoft's mobile division shrank in FY24 as the company's PC and console business propelled it to a record year.

The company’s financials for FY24 showed that mobile made up just a 6% share of net bookings during the 12 months leading up to March 31st, 2024. During the year prior, it accounted for 31% of net bookings.

Meanwhile in Q4, mobile represented 4% of net bookings, a drop from 14% the year prior.

PC and console growth

The company’s PC and console business powered it to strong growth over the past year. Ubisoft's net bookings for the full year increased by 33.5% year-over-year to reach €2.3 billion ($2.5bn), while revenue rose by 26.8% Y/Y to €2.32 billion ($2.52bn).

Ubisoft generated €313.6m ($341m) in operating income, up significantly from a €585.8m ($634m) loss the year prior.

Console revenue as a share of net bookings grew to 56% during FY24, compared to 40% the previous year. PC, meanwhile, rose to 32%, up from 18%.

The company reported 138 million active users on console and PC, a rise of 4% Y/Y. Monthly active users rose slightly to 37m, while total hours played increased by 12%.

While Ubisoft posted record bookings and an increased player base, it still made the decision to end development on The Division: Heartland. It said this was part of efforts to streamline operations, adapt to evolving market trends, and be more selective with its investments.

The teams working on the title have been moved to XDefiant and Rainbow Six.

Future plans

Despite the falling influence of mobile in the company’s financials, Ubisoft did highlight the platform as part of its growth plans for the future.

It aims to pin its focus on two areas: open-world titles and games-as-a-service. It said these segments represented avenues for profitable growth and were an opportunity to build a “sustainable competitive advantage”.

It aims to achieve this by capitalising on its top IP - which includes Assassin’s Creed, Far Cry and Tom Clancy titles - and “grow with multiplayer and mobile”.

“Pursuing a pragmatic and selective organic investment approach, and in line with the strategic pillars announced last year, our strategic focus is on returning to leadership in the open world adventure segment and expanding our footprint in GaaS-native experiences,” said Ubisoft co-founder and CEO Yves Guillemot.

“With these core verticals, and leveraging ongoing investments in our technologies to reach and maintain a competitive advantage, we aim to drive growth and recurrence with the objective to gradually expand operating income and generate robust free cash flow.

“We are committed to continuing our turnaround in FY25 thanks to a very promising line-up that includes Assassin’s Creed Shadows, Rainbow Six Mobile, Star Wars Outlaws, The Division Resurgence, and XDefiant. Our upcoming Ubisoft Forward event on June 10th will further showcase our innovative games and our dedication to consistently creating and delivering high-quality, long-lasting experiences for players."