STRONG SALES FOR TEAM 17 DURING PANDEMIC
17 June 2020
Listed game developer Team17 has recorded strong sales in the opening months of 2020 against the backdrop of the Covid-19 pandemic.
The Wakefield-based company reported above expected demand for its back catalogue, which has outperformed pre-Covid-19 expectations, particularly at the height of the lockdown during April and May.
Further sales traction and increased playtime was also generated across the developer's more socially orientated or multi-player co-op and online games, enhancing earnings on key franchise titles such as Worms, Overcooked and The Escapists, alongside 2019 new game IPs Golf with Your Friends, Hell Let Loose and the recently released Moving Out.
MediaCityUK-based Yippee Entertainment, which was acquired in January 2020, is now fully integrated and is actively recruiting as Team17 seeks to expand its second UK development studio location.
In a statement, the company said: "Despite the challenges generated by C-19 we are delighted with an excellent start to FY2020 and, as previously announced, we have a solid pipeline of new releases weighted towards the second half of 2020.
"We have more games in development across our label than at any time in our history, including owned IP and are engaging with more partners seeking to have their games be part of our label and continue to see more new gamers playing our games and franchises during C-19.
"Gaming has historically shown good resistance in uncertain economic situations; however, we are in unprecedented times. We have started to see the unusually high levels of demand during April and May returning to a more normal level. C-19 has proven the resilience of the business during this period, however, there clearly remains a degree of uncertainty as to the longevity and socio-economic effects of C-19 on our markets.
"This, combined with next generation consoles and new IP launches across H2, creates a more unpredictable backdrop to maximise the best commercial opportunities for each game both digitally and physically."
Team17 is headquartered in Wakefield with a commercial office in Nottingham.