Embracer Group, which has been acquiring companies and significant IPs for the past couple of years, has released its most recent quarterly financial report, and it hints at some moves the company will be making after a profitable year.
On top of acquiring Middle-earth Enterprises, and full media rights to The Lord of the Rings and The Hobbit, as well as other Middle-earth related works by Tolkien for an undisclosed sum, Embracer also bought studios and IP rights previously owned by Square Enix this year. Those studios, including Eidos Montreal, Crystal Dynamics, and Square Enix Europe in addition to acquisitions like Perfect World Entertainment, have led to some significant increases. In the PC and console games field, the company saw a 107% increase in sales year over year, compared to the same period in 2021. Perfect World was a “substantial contributor” to growth.
The company alluded to its series of acquisitions with summaries and forward looking statements, as well as caution over the potential for a global recession. Even so, the growing catalog of IPs, and the fact that they “have invested significantly in creating one of the largest providers of PC/Console content in the industry” are standouts.
Games like Star Trek Online, Borderlands 3, Neverwinter, and Valheim were named as revenue drivers. Valheim was a winner for the company, which noted that the game had reached 10 million in sales and continued its success.
“The highly successful game Valheim, which has sold over 10 million units, was added to PC Game Pass in late September and had a notable contribution to back catalog sales. The game will be released on Xbox in early 2023.”
The company also announced some changes, including moving Deep Silver Volition under Gearbox, Crystal Dynamics getting out of mobile to focus on PC and console games exclusively.
Embracer has a company wide 10,000 developers.
Read more in the financial report over at Embracer Group.