Ubisoft nets solid third quarter growth with late 2023 releases

Ubisoft's 2023-2024 fiscal year isn't over yet, but it reported a stable third quarter in its new earnings report. That stability is owed to several late-2023 releases after an empty (but strong) first half.

The French studio didn't give hard numbers for new releases like Assassin's Creed Mirage. Instead, it pointed to the larger franchise's "over performance" thanks to that title's debut.

It was similarly vague on numbers for Avatar: Frontiers of Pandora and January's Prince of Persia: The Lost Crown. The former is eyed as a "long-term seller," and the latter was noted for "[showing] Ubisoft’s capacity to revive iconic brands."

In the quarter, Ubisoft saw net bookings of €626.2 million, slightly exceeding initial expectations. Due to a licensing deal with Tencent, revenue from Assassin's Creed Jade isn't included in this number.

Overall, third quarter bookings were up by 43.1 percent compared to last year. And within the nine month period of 2023-2024, bookings grew by 45.1 percent.

Sales still matter to Ubisoft. By instead highlighting their brand effect or strong critic and player reception, the developer is trying to make these titles more appealing with word-of-mouth.

Live service earners still a priority for Ubisoft

You can see that idea potentially work on the upcoming Skull & Bones or xDefiant. CEO Yves Guillemot hopes live service titles become solid revenue earners like Rainbow Six Siege.

Conversely, he said Ubisoft will keep VR at a distance. During the Q&A, he said Assassin's Creed Nexus VR only sold "okay," but it'll hold off on further VR games until the technology's interest "grows enough."

Per Guillemot, Ubisoft has other "significant partnerships" with unidentified studios. It also plans to take advantage of its cloud streaming rights to Activision Blizzard games through 2038.

Finally, he teased developments for two of Ubisoft's high-profile projects. Star Wars Outlaws, which he called the series' "first open-world game," is expected to release sometime this year.

As for Assassin's Creed Red, the Japan-set title will release by March 2025. Both are part of a "promising lineup" for 2024-2025 that we'll hear more about in May.