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New contracts and updated net revenue estimates for Playdigious’ pipeline

29 April, 2024 at 08:30

Fragbite Group AB (publ) (“Fragbite Group” or “the Company”) hereby updates net revenue estimates for the pipeline of upcoming new game releases of the Company’s porting and publishing business under wholly-owned subsidiary Playdigious. The total estimated net revenue of the current pipeline of upcoming game releases has significantly increased since estimates were last communicated in August 2023.

Since the communication of estimates for the Playdigious pipeline in August 2023, an additional four game titles have been signed, and several more are in late stages of negotiation. These are new game releases meaning either an existing IP being ported and published to mobile platforms by Playdigious, or a first-time release published on PC under the Playdigious Originals brand. This does not include estimates for extended distribution of the existing portfolio of game titles to new platforms and/or geographic markets.

Fragbite Group communicates estimated net revenue of the Playdigious pipeline of new game releases in revenue categories. Estimated net revenue equals the total revenue for the game, during a three year period 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

The current pipeline of upcoming releases consists of:

  • Two announced titles releasing on mobile platforms: Loop Hero, Skul
  • Two announced titles releasing on PC: Fretless – The Wrath of Riffson, Linkito
  • Six not yet announced titles releasing on mobile platforms
  • One not yet announced title releasing on PC

For the current pipeline of eleven upcoming releases, the following net revenue distribution is estimated:

Category A: five games
Category B: two games
Category C: four games

The total estimated net revenue of the current pipeline of upcoming game releases is between 10 and 17+ MEUR, compared to a total estimated net revenue of between 6 and 14+ MEUR when the previous estimates were published in August 2023.

These new game titles are expected be released over a period starting with Loop Hero on 30 April, with the eleventh title expected to be released by the end of 2025. The previously communicated estimate for 2024 of 6 to 8 new game releases during the year remains unchanged.

“2023 was a year during which we focused heavily on investing in the growth of Playdigious’ capacity in order to take on more and bigger game titles. I am very happy to see that these investments have already started to generate a new, higher level of output and a pipeline of titles with higher estimates as well as increased the strength of the Playdigious brand in the industry,” says Marcus Teilman, President and CEO, Fragbite Group.
“Thanks to the dedication and hard work of our team, Playdigious is fully on track to deliver on previous estimates and have now expanded the pipeline further. We have a number of very interesting announcements ahead of us and I look forward to providing new updates later this year,” says Abrial Da Costa, CEO, Playdigious.

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