Ubisoft Experiences 9% Decline in Q1

Ubisoft's Q1 results have exceeded expectations despite a 9% year-over-year decrease in net sales. The company behind Assassin's Creed has released its latest financial report, which highlights a decline in net bookings by 8% overall, although Tom Clancy Rainbow Six Siege performed strongly during this period. Key figures for the three months ending June 30 include: net sales of €289 million ($321.6 million), down 9% from the previous year, and net bookings of €268 million ($298 million), representing an 8.7% decrease. The success of Tom Clancy's Rainbow Six can be attributed to its new seasonal content, resulting in growth in net bookings and daily active users. The Crew 2 also saw an increase in monthly active users during June. Ubisoft conducted test phases for its free-to-play initiatives, including beta tests for Tom Clancy's The Division Resurgence, Tom Clancy's Rainbow Six Mobile, and Tom Clancy's The Division Heartland. The company's Ubisoft Forward Event in June experienced a 64% increase in live viewers, featuring trailers for upcoming titles such as Assassin's Creed Mirage, Avatar: Frontiers of Pandora, and Star Wars Outlaws. According to CEO Yves Guillemot, "The quarter saw us deliver better-than-expected results and make progress on our strategy to reach a broader audience and increase recurring revenues." He also noted that Ubisoft Forward was a significant event, with increased player engagement and positive sentiment, while test phases for free-to-play titles provided valuable data for the development teams. Additionally, Ubisoft's board has proposed the nomination of independent directors Katherine Hays and Olfa Zorgati, to be voted on at the September annual general meeting. The company projects €350 million ($389.5 million) in net bookings for Q2.