Vivid Games generated PLN 5 million in revenue in Q3. The business partnerships concluded in Q3 are a good omen for the future.
17.10.2023
Vivid Games generated PLN 5 million in revenue in Q3.
The business partnerships concluded in Q3 are a good omen for the future.
The past quarter was full of new contracts. Vivid Games entered into a partnership with BoomBit S.A., which will result in the casual title Boxing ring - Clash of Warriors. Following the successful July release of the port of the game Eroblast for the Japanese Nintendo Switch console, the Company also strengthened its cooperation with QubicGames, signing an agreement for the development and release of a dedicated PC version on Steam. In early October, a Polish FMCG company joined the studio's partners. The subject of the agreement is the production and distribution by the Company of an endless runner free-to-play game, using IP related to the partner's products.
The preliminary result for September was PLN -170k, with revenues of PLN 1,5 million. The Company's results for the entire third quarter were affected by several factors. The mobile market experienced a seasonal decline in player engagement, which translated into lower profitability of user acquisition (UA) campaigns. The NCBiR's withdrawal of funding for the Blast technology project was also not insignificant. However, management remains focused on diversifying revenue sources and executing the strategy. "We are successively implementing the next steps of the strategy presented in April. We are very pleased with the business partnerships we have acquired in recent months, but we absolutely do not intend to stop there" - emphasizes Piotr Gamracy, CEO of Vivid Games. "In addition to acquiring more business partners, the development of Real Boxing 3 and the entire universe around the game remains crucial. I know that this will be a title whose results can multiply what Real Boxing 2 has achieved, and with the experience we will gain working on the game for an FMCG partner, it will be easier for us to go beyond the digital world with Real Boxing 3 as well. The game's release will take place as planned" - Gamracy adds.