Focus Entertainment reported a 43% decrease in its third-quarter earnings, attributing the decline in part to the absence of major releases during the three-month period ending December 31.
In addition to the financial update, the games company announced its rebranding to Pullup Entertainment, effective April 1.
Here are the key financial figures:
- Total revenue: €43.3 million (down 43% year-on-year)
- Catalog revenue: €9 million (down 84% year-on-year)
- Back catalogue revenue: €29.5 million (up 45% year-on-year)
The quarter’s revenue was primarily driven by popular titles such as Insurgency: Sandstorm, A Plague Tale: Requiem, SnowRunner, and Atomic Heart.
Focus Entertainment explained that the 43% decline in total revenue for Q3 was influenced by the release of A Plague Tale: Requiem and Evil West during the same period last year. Additionally, the company mentioned that the revenue for the quarter includes contributions from its newly established audiovisual production play by Scripteam.
“Like-for-like revenue, excluding the contributions of Dovetail and Scripteam, was €35.1 million. 84% of the Group’s sales were made via digital partners, with international sales accounting for 95% of the Group’s total revenue in the third quarter,” noted Focus.
Looking forward, the earnings report outlined that Pullup Entertainment will comprise three core business divisions: Focus Entertainment Publishing, the Arcade Crew, and its developer studios.
Focus Entertainment Publishing, a spin-off of the firm’s publishing operations, will be headed by deputy managing director John Bert. The publishing unit will focus on independent titles and retrogaming, with the CEO of Dotemy and deputy managing director Cyrille Imbert overseeing The Arcade Crew.
The Focus studio’s division encompasses Deck13, Streumon, Twelve Tenths, Leikir Studio, Blackmill, Dovetail, and Carpool Studio.
In terms of upcoming game launches, Banishers: Ghost of New Eden, developed by Don’t Nod, is scheduled for release in the fourth quarter on February 13.
