The release of EA Sports FC 24 marked a turning point in the world of football video games, symbolizing more than just a new title on the shelf. This change represented a significant shift in Electronic Arts’ strategy, as they transitioned away from the well-established FIFA series to introduce something entirely different.
While EA Sports FC 24 and FIFA 23 shared the same digital pitch, their journey in the market tells a story of contrast and evolution following the unveiling of EA’s Q3 financial results.
EA’s Q3 Financial Highlights
The third quarter of FY24 was a period of notable achievement for EA, with net bookings reaching $2.366 billion, marking a 1% year-over-year increase. A standout aspect of this financial prosperity was the record $1.712 billion in live services and other net bookings, a figure that not only represents a 3% year-over-year growth but also highlights the increasing importance of live services in EA’s business model. Net revenue was $1.945 billion for the quarter, up 42% year-over-year.
On a trailing twelve-month basis, live services like Ultimate Team have come to constitute a substantial 73% of EA’s total business, underlining a strategic shift towards more continuously engaging gaming experiences.
Spotlight on EA SPORTS FC 24
At the heart of EA’s triumphant Q3 report lies the remarkable performance of EA SPORTS FC 24. This franchise, transitioning seamlessly into the FC brand, has outperformed expectations, delivering a 7% growth in net bookings compared to the previous year.
This growth is particularly noteworthy as it comes against the backdrop of a prior year that included the buzz and excitement of the World Cup, a global event that traditionally boosts sports game sales.
Another factor for this impressive growth has been the Ultimate Team mode, especially during the highly anticipated Team of the Year promotion. This event, known for releasing special high-rated player cards, has traditionally been a major revenue driver, and this year was no exception. It played a key role in the spike in Q3 revenue for live services, attracting both long-time players and new enthusiasts, thereby contributing massively to the franchise’s success.
Future Outlook
Looking ahead, EA’s outlook for the fourth quarter of FY24 and the overall fiscal year remains optimistic. The company expects net revenue to range between $1.625 billion and $1.925 billion for the fourth quarter, with net bookings predicted to mirror these figures.
This optimism comes from how well games like EA SPORTS FC 24 are doing, and how much players are spending on Ultimate Team. EA’s success in this last quarter shows they know how to keep up with the fast-changing world of gaming and continue to be a leader in the industry.
