Zynga Inc (NASDAQ:ZNGA) along with its quarterly results made several other important updates related to sports segment. The company posted bookings of $175 million, an increase of 9% sequentially; Adjusted EBITDA came in at $14 million.
Mobile growth, enters sports segment
On mobile bookings and audience growth the performance was good with mobile booking superseding the web booking for the first time. Mobile audiences grew by double digits in MAU, an increase of 34% Year over year and 22% quarter over quarter. The social game maker revised its previous full-year guidance, estimating annual bookings to come in the range of $695 to $725 million and Adjusted EBITDA to be in the range of $40 to $60 million.
Since the financial crisis, Warren Buffett's Berkshire Hathaway has had significant exposure to financial stocks in its portfolio. Q1 2021 hedge fund letters, conferences and more At the end of March this year, Bank of America accounted for nearly 15% of the conglomerate's vast equity portfolio. Until very recently, Wells Fargo was also a prominent Read More
Also, the company entered into the Sports category with football and golf games through a new franchisee brand named as Zynga Sports 365. It entered into a licensing agreement with National Football league, NFL players Inc. and Tiger Woods to design new games for in Mobile football segment and golf games. The company launched its first football game dubbed as NFL showdown, which entered into geo-lock in the selected markets, and will be followed by a global launch across all other mobile platforms soon.
Zynga spread out in the runner category by striking a multi-year exclusive agreement with Warner Bros. Interactive Entertainment to license the Looney Tunes brand.
Zynga Orlando Studio to handle new projects
Zynga COO Clive Downie in a blog exhibited his excitement over the recent developments announcing the new ventures of Zynga. Downie said that the company is excited to team up with Golf Icon Tiger Woods, who is one of the most recognised and gifted athletes in the world and has influenced the Golf Sports since he joined in 1996.
COO, further said that the Golf’s worldwide recognition of the sports, as well as its instinctive social nature, makes it perfect for the mobile games. He added that combining the skills of Woods to develop a connection with the player, will give a unique Golf experience.
Downie, also, announced that the new ventures are taken care by Zynga Orlando Studio. The team consists of many coveted gaming veterans such as Mike Taramykin, Jason Shenkman, Jeff Luhr, Ian Cummings and Michael Cayado; everyone is a known name to create innovative AAA sports games. Downie praised the team saying that from gameplay simulation to visual fidelity, the team is capable of understanding, “the art of delivering sports fans transformative, authentic entertainment experiences that feel as real as the sport itself.”