Canadian mobile game developer East Side Games has released its full-year financials for 2022, showing a growth of 25% in revenue to $116.3m CAD compared to 2021.
The company also touted adjusted EBITDA of $7.5m CAD, and noted their strong finish to the year in comparison with Q3 2022. As with previous financials, ESG attributed their success to a strong lineup of IP-driven games such as Star Trek: Lower Decks – The Badgey Directive and Doctor Who: Lost in Time. Their Q4 2022 revenue stood at $25.9m CAD compared to $18.9m CAD for Q3, indicating overall growth and health in the last part of the year.
CEO Jason Bailey, noted that the year had been broadly positive for the studio. “With the recent award nominations and success of our releases, in addition to a number of major IP and developer partnerships on the horizon, we expect great things for ESG. As fans first, we’re thrilled for these upcoming titles in large part because we know they’ll be fun to play.
“Moving forward, we will continue to focus on our goal of providing creators the tools to successfully deliver mobile gaming experiences that engage players every day,” he said.
East Side Games has been a mainstay of the Canadian mobile gaming market for many years now, and has featured strong revenue and a bevy of IP and franchise-driven games which have contributed to their growth. However, these titles are just as much a burden as they are a benefit, being a precious and highly valuable commodity for studios in the region.
As previously commented by talent manager at East Side Games, Rana Al-Badran, the potential talent loss is a factor even as the industry grows in prestige and size. “There’s a real risk – in fact, it’s happening right now – that as the Canadian industry becomes better-known that major international firms will start poaching skilled developers with unmatchable salaries.
“Canadian companies can try and meet them in areas like employee benefits and more acute awareness of the people in our industry’s needs, which we can do because we have a local and more insightful perspective.”
So all in all, it looks sunny for East Side Games going into 2023. But holding onto those IP and franchise rights will be a key factor in continuing their growth, but with a proven track record so far they could remain a safe bet for those wanting to push their franchise into the mobile gaming world.