Strategic Refocus, Record Net Bookings, a Thriving Back-Catalogue and 1,700 Job Cuts at Ubisoft
Ubisoft reports record net bookings of over 2.3 billion Euros last fiscal year. More than 1,700 jobs have been cut over the last 18 months. The Heartland Division has been cancelled. The company believes it is well positioned for the future and is increasing its focus on open-world adventures and games-as-a-service-native experiences.
Ubisoft has published its Annual Business Report for 2023-24, covering the period from April 2023 to the end of March 2024. Net bookings amounted to 2.3 billion Euros, an increase of 33.5 percent compared to the previous financial year. 85.6 per cent of net bookings were digital, of which 44 per cent were from the PRI segment. For Ubisoft, these are recurring payments from players for DLCs and/or microtransactions. The IFRS operating income is 313.6 million Euros and the non-IFRS operating income is 401.4 million Euros. Ubisoft said that these figures were in line with expectations. In the previous year, the IFRS operating loss was 585.8 million Euros.