Source: venturebeat.com - Thursday, January 29, 2015
Kabam set another company high for revenue in 2014 — its fifth consecutive year of growth. Earnings season EA has strong quarter Wall Street loves EA The studio reported revenue of $400 million for the year, which is a another record for the privately held free-to-play mobile-game publisher — although chief executive Kevin Chou admits this figure was still below Kabam’s original guidance. But it is still up from $360 million in 2013. This comes as it continues to find success with The Hobbit: Kingdoms of Middle-earth and as it finds new hits with releases like fighting game Marvel: Contest of Champions. Mobile gaming is worth around $25 billion worldwide, according to market researcher Newzoo, and Kabam represents a significant chunk of that by catering to an audience that loves games but doesn’t spend as much time with consoles or PCs as they used to. In a statement, Chou notes that one of Kabam’s new divisions “underperformed.” He also said that his company “intentionally dialed down other revenue-generating opportunities” to ensure Kabam’s future rather than trying to milk as much as possible from the present. Positioning Kabam for the future was a big part of 2014 for the company. It shook up its management team by appointing Nick Earl as its new president, Aaron Loeb as its new senior vice president, and TapZen’s Mike Verdu as another new senior vice president. Kabam’s leadership points out that the developer is now 10 times
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Kabam set another company high for revenue in 2014 — its fifth consecutive year of growth. Earnings season EA has strong quarter Wall Street loves EA The studio reported revenue of $400 million for the year, which is a another record for the privately held free-to-play mobile-game publisher — although chief executive Kevin Chou admits this figure was still below Kabam’s original guidance. But it is still up from $360 million in 2013. This comes as it continues to find success with The Hobbit: Kingdoms of Middle-earth and as it finds new hits with releases like fighting game Marvel: Contest of Champions. Mobile gaming is worth around $25 billion worldwide, according to market researcher Newzoo, and Kabam represents a significant chunk of that by catering to an audience that loves games but doesn’t spend as much time with consoles or PCs as they used to. In a statement, Chou notes that one of Kabam’s new divisions “underperformed.” He also said that his company “intentionally dialed down other revenue-generating opportunities” to ensure Kabam’s future rather than trying to milk as much as possible from the present. Positioning Kabam for the future was a big part of 2014 for the company. It shook up its management team by appointing Nick Earl as its new president, Aaron Loeb as its new senior vice president, and TapZen’s Mike Verdu as another new senior vice president. Kabam’s leadership points out that the developer is now 10 timesfrom Top News on RSS Feeds http://ift.tt/1z8D848
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