[ad_1]
Electronic Arts hosted its Investor Day event to share EA’s long-term growth strategy and provide an in-depth look at the initiatives driving its three strategic pillars: entertaining and engaging massive online communities, creating blockbuster interactive storytelling, and harnessing the power of community to accelerate growth in, around, and beyond our games.
“We are excited to unveil an in-depth look inside the growing scale and scope of our IP portfolio, as we accelerate engagement and social connection in and around our biggest franchises,” said Andrew Wilson, CEO of EA. “We are also introducing new experiences and leveraging innovative technology to serve our global communities and attract new audiences, as we continue to transform our business and shape the future of entertainment.”
“We are committed to growing our business at scale and expanding operating margins through a disciplined approach to capital allocation,” said Stuart Canfield, CFO of EA. “Our strategy gives us confidence we can significantly outpace market growth through fiscal 2027.”
Investor Day Highlights:
- EA shared an in-depth look at the initiatives and experiences driving its strategic pillars to accelerate growth in, around, and beyond gaming;
- Outlined how AI drives efficiency, expansion, and transformation to accelerate its business;
- Expects sustained growth in EA SPORTSTM and shared its aspiration to be the most valuable sports business;
- Announced a modern-day next-level Battlefield™ experience, with a community testing program coming in early 2025;
- Investing behind The Sims™ platform and expects to more than double The Sims annual net bookings1 over the next five years; announced partnership with Amazon MGM Studios on a movie based on The Sims;
- Outlined plans to unlock net-new business opportunities beyond gaming, starting with the EA SPORTS App – a socially-driven app, with sports content, live sports data, interactivity and gaming centered on global football;
- Updated that the company is on track towards the high end of the net bookings1 guidance, provided on July 30, 2024, for the second fiscal quarter ending September 30, 2024, and the fiscal year ending March 31, 2025.
During the event, Andrew Wilson, Chief Executive Officer, shared EA’s vision for shaping the future of entertainment and strategy to build connected platforms that deliver more value and less friction where fans can play, create, watch and connect. Laura Miele, President, EA Entertainment and Technology, detailed extraordinary, owned IP, including some of the world’s most beloved blockbuster franchises, as well as licensed IP through powerful collaborations. Cam Weber, President, EA SPORTS, shared the company’s aspiration to establish EA SPORTS as the most valuable sports business. David Tinson, Chief Experiences Officer, provided an overview of initiatives to engage and grow EA’s communities beyond the bounds of games. Mihir Vaidya, Chief Strategy Officer, shared more about the transformative potential the company sees in a future supercharged by AI. Stuart Canfield, Chief Financial Officer, provided EA’s financial framework for driving growth through the company’s strategic pillars and delivering long-term value.
The Investor Day webcast and accompanying presentations are available at EA’s IR Website at http://ir.ea.com.
Forward-Looking Statements
During the course of the presentation, Electronic Arts may make forward-looking statements regarding future events and the future financial performance of the company that are subject to change. Statements including words such as “anticipate,” “believe,” “expect,” “intend,” “estimate,” “plan,” “predict,” “seek,” “goal,” “will,” “may,” “likely,” “should,” “could” (and the negative of any of these terms), “future” and similar expressions also identify forward-looking statements. These forward-looking statements are not guarantees of future performance and reflect management’s current expectations. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that might cause or contribute to such differences include those discussed in Electronic Arts’ latest Quarterly Report on Form 10-Q for the fiscal quarter that ended June 30, 2024, under the heading “Risk Factors”, as well as in other documents we have filed with the Securities and Exchange Commission, including Electronic Arts’ Annual Report on Form 10-K for the fiscal year ended March 31, 2024. We assume no obligation to revise or update any forward-looking statement for any reason, except as required by law.
1 “Net bookings” is defined as the net amount of products and services sold digitally or sold-in physically in the period. “Net bookings” is calculated by adding total net revenue to the change in deferred net revenue for online-enabled games.
[ad_2]
Source link