Electronic Arts released its Q4 and fiscal year-end financials, showcasing continued strength in its live service offerings and some color on developing the next Battlefield game.
With its live service games, Apex Legends leads the charge with $3.4 billion in lifetime net bookings. The Sims 4 also remains a powerhouse, boasting a player base of 85 million and experiencing double-digit year-over-year (yoy) growth in FY24. The Sims franchise, as a whole, has surpassed 500 million downloads across various platforms, and The Sims 4 players can anticipate 15 content updates planned for this year.
In a call to investors, EA CEO Andrew Wilson reaffirmed the company’s commitment to the Battlefield series, noting that it has assembled the “largest Battlefield development team in franchise history.” This group includes seasoned studios like DICE and Motive, promising to mix the former’s Frostbite technology with the latter’s storytelling expertise to craft a sprawling Battlefield experience with innovative multiplayer and single-player adventures.
“Our teams have listened to the community, have learned valuable lessons, and are driving to the future,” said Wilson. “Motive, armed with cutting-edge frostbite technology and compelling storytelling, is joining DICE, Criterion, and Ripple Effect to build a Battlefield universe across connected multiplayer and single-player experiences. This is the largest Battlefield team in franchise history.
“A few weeks ago, I was visiting with the teams and I couldn’t be more excited about what they showed and able to play.”
Turning to financials, live services saw yoy growth in the high teens in the global football franchise, fueled by titles like FC Ultimate Team and FC Mobile, offset by declines in Apex Legends. There was a 2% decline in net bookings to $5.43 billion yoy mainly due to the sunset of Apex Mobile.
Overall, EA’s FY2024 financials were rather flat with total net bookings reaching $7.43 billion, a 1% yoy increase. Q4 results showed a dip in net bookings and net revenue compared to the previous year, but the future seems bright for EA with its continued investment in live services and the upcoming Battlefield project.
But on the brighter side, full game net bookings were up 11% yoy to $2.01 billion, driven by the release of Star Wars Jedi: Survivor and the EA Sports portfolio. Net revenue climbed 2% yoy to $7.56 billion.
For Q4, total net bookings declined 14% yoy to $1.67 billion, and full-game net bookings were $259 million, driven by slate timing, and live services for the quarter came in at $1.41 billion. Net revenue for the quarter was down 5% yoy to $1.78 billion.