Playdigious’ growth pace increased with eight game titles signed
Playdigious SAS (“Playdigious”), a wholly-owned subsidiary of Fragbite Group AB (publ) (“Fragbite Group”), has signed eight additional game titles for porting and publishing to mobile platforms. With expanded production capabilities, Playdigious will from 2024 increase the pace of new game releases as well as updates and launches of existing titles onto new platforms and markets.
As previously communicated, Playdigious has been in multiple negotiations since the beginning of the year. Eight game titles, not yet named, have been signed for porting and publishing to mobile platforms. These new game titles are expected be released over a period starting in the fourth quarter 2023, with the eighth title expected to be released in the second quarter 2025. These are in addition to previously announced upcoming titles Little Nightmares on mobile and Fretless – The Wrath of Riffson on PC, the first game to be published under the Playdigious Originals label. Playdigious is also in several ongoing negotiations for other game titles as well as evaluating potential game releases in China.
ESTIMATED NET REVENUE FOR CURRENT PIPELINE
Fragbite Group will henceforth communicate financial estimates of the Playdigious pipeline of new game releases in revenue categories. Estimated net revenue equals the total revenue for a game, three years from release, before the expense of licensing costs and platform fees.
Estimated net revenue the first three years from release
Category A: 0 – 1 MEUR
Category B: 1 – 2 MEUR
Category C: 2+ MEUR
For the current pipeline of ten upcoming releases, including the eight new signed titles as well as the two already announced titles, the following net revenue distribution is estimated:
Category A: Six games
Category B: Two games
Category C: Two games
RELEASES IN 2024
Playdigious is now increasing its production and release pace. In 2024 the aim is to release six to eight new games, including games released under the Playdigious Originals label. In 2024, Playdigious also aims to increase the pace of activities for existing games with launches onto new platforms and/or geographic markets, as well as the release of downloadable content updates (DLC:s) for purchase.
“Fragbite Group has since the end of 2022 focused on growing the Playdigious business, which has allowed for an intense period of negotiations. The signing of eight new contracts for already commercially tested games, with more in progress, is a strong indication of Playdigious’ upgraded capacity. Historically, we have averaged four new game releases per year and are now planning for six to eight new games in 2024. This significant increase in both scope and pace means that we have established a format for communicating the estimated value of upcoming game releases, a format which we will fine-tune over the course of the coming quarters,” says Marcus Teilman, President and CEO, Fragbite Group.
“I'd like to thank all team members for pushing Playdigious to new heights. With these new projects signed, we are accelerating our growth in order to deliver a pipeline that will be enriched over the coming years. We still have some great opportunities to seize in the gaming market, which remains as dynamic as ever, so we can approach this new growth cycle with confidence.” says Abrial Da Costa, CEO, Playdigious.