Ubisoft Q1 revenue falls 3.9% to $365m as publisher reorganises into ‘creative houses’

• Back-catalogue titles grew 4.4%, contributing €260.4 million in bookings.
• Ubisoft is restructuring into "Creative Houses" to enhance quality and player engagement.
• The first Creative House, overseeing Assassin’s Creed and Far Cry, now has its own leadership.

Ubisoft revenue declined by 3.9% year-over-year to €310.8 million ($365.6m) in Q1 as the company announced a reorganisation into new ‘creative houses’.

According to the company's latest financials, net bookings fell 2.9% to €281.6m ($331m) in the last quarter, with digital net bookings dropping 2.7% to €250.2m($294m). 

Mobile also accounted for 10% of net bookings to reach €29m ($33m), consistent with the same period last year. 

However, back-catalogue net bookings rose 4.4% to €260.4m ($306m), indicating ongoing strength in Ubisoft’s legacy titles despite a dip in overall performance.

Ubisoft reiterated during an investor call that both Rainbow Six Mobile and The Division Resurgence are still slated for release later this fiscal year.

New transformation 

Ubisoft is advancing its transformation by reorganising into "Creative Houses" - independent business units designed to boost quality, focus, autonomy, and player engagement. 

The new organisation will be announced by the end of the year. However, the first Creative House, announced in March, now has a dedicated leadership team. 

Meanwhile, the company said its transaction with Tencent is progressing smoothly and is still expected to close by the end of 2025, pending regulatory approval.

“Meaningful progress" 

"The first quarter delivered mixed results," said Ubisoft CEO and co-founder Yves Guillemot. “On the positive side, Assassin’s Creed Shadows delivered on its expectations, with now more than five million unique players since its launch."

He added: "We also continued to make meaningful progress on Ubisoft’s transformation by outlining a new operating model built around business units, called Creative Houses.

“These units will reflect our diverse types of games experiences and will allow for enhanced quality, focus, autonomy and accountability. Over time, each of these Creative Houses will boost creative vision and business performance.

"The new Subsidiary announced earlier this year and overseeing our flagship brands — Assassin’s Creed, Far Cry, and Rainbow Six — is the first of these Creative Houses. 

“The recent announcement of its leadership team marks an important milestone as we move toward a more agile and focused organisation while ensuring necessary long-term stability and creative vision."