So much for the games industry being recession-proof.
If you’ve bought in to the idea that the video games industry is recession proof then prepare to be shocked: EA has posted a net loss of $1.088 billion (~£732 million) for the last year.
That’s a notable decline on last year when EA’s loss was a lesser $454 million. Revenue improved year on year, however, up 15 per cent from $3.665 billion to $4.212 billion suggesting the problem isn’t as simple as EA not selling enough games.
EA had 31 titles with over a million sales in 2009, which is four more than 2008 with Spore shifting two million copies and FIFA 09, Madden NFL 09 and Need for Speed Undercover breaking the five million sales mark. EA’s Digital Services revenue improved 27 per cent year-on-year and EA Mobile’s revenue improved 24 per cent year-on-year to $189 million.
EA sounds confident that is set up to see good performance this financial year, with several big titles coming, including EA Sports Active, with which EA will debut Wii Motion Plus.
EA Investor Relations.