Lord of the Rings IP owner Embracer Group has seen net sales at its Entertainment & Services division fall by 15%, but is betting big on Middle-earth in coming years.
Entertainment sales for the fourth quarter of 2023 (covering January to March 2024) were SEK1.26B ($118M), down from SEK1.49B the previous year. Embracer noted the Middle-earth Enterprises unit that houses Lord of the Rings was likely to make a “somewhat lower expected contribution” year-on-year than expected.
Overall, Embracer’s net sales fell 5% to SEK8.88B, with the PC/Games and Tabletop Games units providing the lions’ share of revenue, and while there was a SEK20.38M Ebit loss, down from SEK95M a year ago. Adjusted Ebit was SEK1.3B, up 56%.
At the same time as unveiling the results, Embracer announced CFO and Deputy CEO Johan Ekström had decided to step down, with Phil Rogers, who is leading the new newly formed...
Entertainment sales for the fourth quarter of 2023 (covering January to March 2024) were SEK1.26B ($118M), down from SEK1.49B the previous year. Embracer noted the Middle-earth Enterprises unit that houses Lord of the Rings was likely to make a “somewhat lower expected contribution” year-on-year than expected.
Overall, Embracer’s net sales fell 5% to SEK8.88B, with the PC/Games and Tabletop Games units providing the lions’ share of revenue, and while there was a SEK20.38M Ebit loss, down from SEK95M a year ago. Adjusted Ebit was SEK1.3B, up 56%.
At the same time as unveiling the results, Embracer announced CFO and Deputy CEO Johan Ekström had decided to step down, with Phil Rogers, who is leading the new newly formed...
- 5/23/2024
- by Jesse Whittock
- Deadline Film + TV
“Lord of the Rings” owner Embracer Group delivered a mixed bag during its fourth-quarter 2024 earnings Thursday, revealing that while its adjusted operating profit had risen by 56% to 1.4 billion Swedish krona ($132 million), sales in its entertainment and services division – which currently houses its Tolkien and “Tomb Raider” IP – had dropped by 15%.
The Swedish-based gaming conglomerate also revealed CFO and deputy CEO Johan Ekström is set to step down after five years for personal reasons. He will stay with the company until next March although from Sept. 1 he will be focused on splitting Embracer into three companies.
Ekström will be replaced as CFO by current deputy CFO Müge Bouillon while Phil Rogers will take on the role of deputy CEO of Embracer in addition to his current roles as CEO of Crystal Dynamics-Eidos and leader of Middle-earth Enterprises & Friends, one of the three new companies that will emerge out of the shell of Embracer.
The Swedish-based gaming conglomerate also revealed CFO and deputy CEO Johan Ekström is set to step down after five years for personal reasons. He will stay with the company until next March although from Sept. 1 he will be focused on splitting Embracer into three companies.
Ekström will be replaced as CFO by current deputy CFO Müge Bouillon while Phil Rogers will take on the role of deputy CEO of Embracer in addition to his current roles as CEO of Crystal Dynamics-Eidos and leader of Middle-earth Enterprises & Friends, one of the three new companies that will emerge out of the shell of Embracer.
- 5/23/2024
- by K.J. Yossman
- Variety Film + TV
Following various cuts and divestments, troubled videogame firm Embracer Group is splitting into three separate companies.
In the latest shakeup at Embracer, the embattled Swedish holding company is to split into three separate entities. All three will be listed on the Swedish stock market, but none will carry the old Embracer name – and tellingly, none will be headed up by its CEO, Lars Wingefors.
The first of the three, called Middle-earth Enterprises & Friends, will be a “creative powerhouse of Aaa game development,” according to Embracer’s announcement, and will be the entity that holds the valuable rights to Tomb Raider and The Lord Of The Rings.
The second company, Coffee Stain & Friends, will focus on indie and mid-budget games for PC and mobile; the third, Asmodee, will concentrate on publishing tabletop games.
It’s a drastic-sounding move, and a sign of just how difficult the past year has been for the once industry-dominating firm.
In the latest shakeup at Embracer, the embattled Swedish holding company is to split into three separate entities. All three will be listed on the Swedish stock market, but none will carry the old Embracer name – and tellingly, none will be headed up by its CEO, Lars Wingefors.
The first of the three, called Middle-earth Enterprises & Friends, will be a “creative powerhouse of Aaa game development,” according to Embracer’s announcement, and will be the entity that holds the valuable rights to Tomb Raider and The Lord Of The Rings.
The second company, Coffee Stain & Friends, will focus on indie and mid-budget games for PC and mobile; the third, Asmodee, will concentrate on publishing tabletop games.
It’s a drastic-sounding move, and a sign of just how difficult the past year has been for the once industry-dominating firm.
- 4/22/2024
- by Ryan Lambie
- Film Stories
The company that owns IP rights to the Lord of the Rings franchise is dividing its business.
Embracer Group has unveiled plans to split into three operations: games publisher Asmodee Group, indie gaming label Coffee Stain & Friends and Middle-earth Enterprises & Friends, which will house the Lord of the Rings and Tomb Raider rights.
Each company will be publicly listed on the Nasdaq Stockholm exchange, but Middle-earth Enterprises & Friends will remain within the current listed Embracer Group, which will be renamed. Embracer has also entered into a €900M ($959M) financing agreement with Asmodee, which will partly go on repaying debts.
Embracer’s largest shareholder, CEO Lars Wingefors, is planning on a “new long-term ownership structure” and will remain “a long-term, active, committed and supportive owner of all three entities.” Shareholders representing more than 50% of the capital and votes are supporting the plan.
Embracer has been working on a restructuring program since June last year,...
Embracer Group has unveiled plans to split into three operations: games publisher Asmodee Group, indie gaming label Coffee Stain & Friends and Middle-earth Enterprises & Friends, which will house the Lord of the Rings and Tomb Raider rights.
Each company will be publicly listed on the Nasdaq Stockholm exchange, but Middle-earth Enterprises & Friends will remain within the current listed Embracer Group, which will be renamed. Embracer has also entered into a €900M ($959M) financing agreement with Asmodee, which will partly go on repaying debts.
Embracer’s largest shareholder, CEO Lars Wingefors, is planning on a “new long-term ownership structure” and will remain “a long-term, active, committed and supportive owner of all three entities.” Shareholders representing more than 50% of the capital and votes are supporting the plan.
Embracer has been working on a restructuring program since June last year,...
- 4/22/2024
- by Jesse Whittock
- Deadline Film + TV
There is one big corporation full of investors that has made a lot of acquisitions in the last couple of years: Embracer Group, which has bought studios like Thq Nordic, Crystal Dynamics, Gearbox, and many more. Unfortunately, all the games from these studios were not successful at all, so Embracer Group decided to start making some changes, which meant a lot of layoffs and even the complete closure of studios.
This was not well received by players, making this company one of the most hated in the industry, but the founder of one of its former studios, Saber Interactive, asked not to attack Embracer that much.
Saber Interactive’s founder really stands with Embracer Group, asking the community not to be so harsh on this company Embracer Group is defended by the founder of Saber Interactive.
Embracer Group has hundreds of studios and subsidiaries in gaming, including names like Thq Nordic,...
This was not well received by players, making this company one of the most hated in the industry, but the founder of one of its former studios, Saber Interactive, asked not to attack Embracer that much.
Saber Interactive’s founder really stands with Embracer Group, asking the community not to be so harsh on this company Embracer Group is defended by the founder of Saber Interactive.
Embracer Group has hundreds of studios and subsidiaries in gaming, including names like Thq Nordic,...
- 4/5/2024
- by Lucas Lapetina
- FandomWire
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