The number of active game development projects within Embracer Group $EMBRAC decreased from 237 to 224 between 30th September and 31st December.
— EmbracerInvestor (@EmbracerInvest) February 16, 2023
It's likely that there have been some cancellations, which may have contributed to the high amortisation in the PC/Console segment. pic.twitter.com/rCp9cPRWC3
13 Embracer games didn't release in the quarter, so it seems like there were some games cancelled thanks to the overall underperformance of the PC/console division. The number of active game development projects at Embracer has pretty much been continually increasing for years as Embracer acquired more and more studios on a regular basis, but this quarter the number went down for the first time in quite awhile.
Some other interesting tidbits from the financials:
- 94 projects currently scheduled to be released in the April 2023-March 2024 fiscal year, including 58 which haven't been announced yet
- 5 new Middle Earth games due to release in the April 2023-March 2024 fiscal year (Embracer acquired Middle Earth Enterprises last year)
- 19 AAA games due for release by March 31, 2026 (down from 25 on the previous quarter, meaning that 6 AAA games were either delayed past March 2026 or cancelled during the quarter)
- 31 AAA games due for release by March 31, 2028
- Goat Simulator 3 and Evil West sold within Embracer's projections, unlike Saints Row
- The top 10 back-catalog revenue drivers for Embracer in the quarter were Deep Rock Galactic, Hot Wheels: Unleashed, Welcome to Bloxburg, Insurgency: Sandstorm, Snowrunner, Star Trek Online, Neverwinter Online, Metro Exodus, Chivalry 2, and Borderlands 3. This means that Saints Row, which released the previous quarter, had already fallen out of Embracer's top 10 revenue drivers mere months after it released.
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