Ubisoft First-Quarter 2020-21 Sales

Key insights

6 takeaways

01
Ubisoft reported Q1 2020-21 net bookings of €410.0 million, marking a 30.5% year-on-year increase that significantly exceeded internal targets.See it on page 1
02
Digital sales accounted for 86.7% of total net bookings, with Player Recurring Investment (PRI) contributing 48.4%.See it on page 6
03
Growth was driven by strong back-catalog performance, specifically a 60% increase in Assassin’s Creed net bookings and a 500% surge in Just Dance.See it on page 2
04
North America remains the primary market at 52% of net bookings, followed by Europe at 32%.See it on page 7
05
The company confirmed full-year 2020-21 net booking targets between €2,350 million and €2,650 million.See it on page 3
06
In response to workplace misconduct allegations, leadership initiated a corporate culture transformation, including new diversity roles and independent HR audits.See it on page 4

Summary

Ubisoft achieved record financial performance for the first quarter of the 2020-21 fiscal year, significantly outperforming internal targets. The company reported net bookings of €410.0 million, a 30.5% increase compared to the same period in the previous fiscal year. This growth was primarily driven by high player engagement, the strength of the company’s back-catalog, and the successful performance of live services. Key franchises contributed substantially to these results, with Assassin’s Creed net bookings rising over 60% and Just Dance experiencing a 500% increase year-on-year.

Geographically, North America remained the company's largest market, accounting for 52% of net bookings, followed by Europe at 32%. Digital net bookings represented 86.7% of the total, while Player Recurring Investment (PRI) accounted for 48.4%. Despite the strong financial results, the company faced significant internal challenges regarding allegations of workplace misconduct. In response, leadership initiated a comprehensive transformation of corporate culture, including the appointment of a Head of Workplace Culture, the creation of a Diversity and Inclusion role, and the implementation of rigorous HR audits and independent investigations.

Looking ahead, the company confirmed its full-year 2020-21 financial targets, projecting net bookings between €2,350 million and €2,650 million. Management remains confident in the upcoming release schedule, which features a mix of premium and free-to-play titles. The company continues to prioritize long-term value creation through a focus on sustainable, inclusive business practices and the continued development of its core intellectual properties across console, PC, and mobile platforms.