Zynga’s focus on growing its live services portfolio looks to be paying off, with the studio having just recorded its highest ever mobile revenue and bookings quarter.
According to the company’s financials for the first quarter ended March 31, 2019, revenues rose by 27 percent year-on-year to $265 million, while bookings increased by 64 percent to $359 million over the same period.
Breaking those figures down, Zynga witnessed record mobile online game revenues of $183 million, an increase of 31 percent year-on-year, with titles like Empires & Puzzles, Merge Dragons!, Words with Friends, and CSR2 performing strongly throughout the quarter
Mobile user pay bookings were also on the up, rising by 85 percent year-over-year to $278 million, while the studio also witnessing its highest ever Q1 mobile advertising quarter with advertising revenues of $63 million — an increase of 48 percent year-over-year.
Overall, Zynga delivered record mobile revenue and bookings performances, with mobile revenue rising by 35 percent year-on-year and mobile bookings jumping by 77 percent during that time.
Mobile now represents 93 percent of Zynga’s total revenue verses 88 percent a year ago, and 95 percent of total bookings compared with 88 percent in Q1 2018.
“We continue to grow our live services portfolio by delivering a steady cadence of innovative bold beats, new content and game play modes designed to engage and attract current, lapsed and new audiences,” commented Zynga, explaining its live service strategy.
“In any given year, we expect strong, predictable growth from this portfolio with live services accounting for the vast majority of our total revenue and bookings. The sustainable profitability generated by our live services enables us to invest in new game development, as well as emerging platforms, technologies and markets.”
Based on its better-than-expected Q1 performance, Zynga is raising its full-year 2019 guidance to $1.2 billion in revenue, a rise of 32 percent year-on-year, and $1.45 billion in bookings, a year-on-year increase of 50 percent.
“Our performance in 2019 will be primarily driven by our live services portfolio anchored by growth collectively across our five forever franchises,” continued to company.
“We have an exciting pipeline of new games under development and currently have two new games in soft launch. Our raised guidance now puts us on track to deliver our strongest annual revenue since 2012 and highest annual bookings in Zynga history.”