Activision still good to hold onto despite high PEG ratio
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Speaking to investors at the Goldman Sachs Technology Investment Symposium 2008 Conference, Activision CEO Bobby Kotick discussed all the reasons he believes his company is poised to succeed, especially on the heels of the much-vaunted Vivendi/Blizzard merger. Gamasutra has transcribed some of the most interesting comments from his speech, starting with why Kotick feels the strong online presence bodes well for Activision:
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Preliminary: Activision Posts Record Fiscal 07 Sales: Driven by Guitar Hero II, Call of Duty 3, Marvel: Ultimate Alliance and others, Activision has preliminarily reported record revenue for its 2007 fiscal year and fourth quarter. The publisher is anticipating even more growth for fiscal 2008.
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And the winner? Not a console at all. Blizzard's revenue from combined World of Warcraft subscriptions and boxed sales surpassed Activision's entire console revenue combined. As far as Activision go on the console side of things, you can see the Wii out in front, closely followed by the 360, with both Sony consoles bringing up the rear.
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Blizzard COO Paul Sams said that "Blizzard intends on delivering one frontline release per year. I think you can see in our numbers that that is contemplated." The company currently has StarCraft II and Diablo III in the works, as well as the guaranteed hit Whatever the Next World of WarCraft Expansion Is.
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FreeStyleGames has sold out to Activision, the publisher confirmed this morning. The UK studio developed B-Boy for PS2 and PSP. It is currently working on Guitar Hero content for Acti-Blizz. “Activision Publishing is the undisputed leader in the music-based games and we see tremendous opportunity for continued growth, particularly in Europe,” said Activision boss Mike Griffith.
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"Bond is one of the great videogame franchises of all time and that really was a result of Golden Eye," commented Kotick at a BMO Capital Markets conference. "I think the key to re-energising the Bond franchise is going to be ultimately the highest possible game quality." For Kotick, EA's Bond titles – which included GoldenEye: Rogue Agent and From Russia With Love – suffered because the publisher had too broad a portfolio, leaving the brand neglected.
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"Activision has announced that, based on better than expected consumer response to its holiday slate worldwide, it is raising its net revenue and earnings per diluted share outlook for the third quarter and for fiscal year 2008."
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Activision has announced that the James Bond series, starting with QoS, will be an annual occurrence, despite the lack of movies to base the games on. Speaking of Guitar Hero, Activision has also told analysts that they plan on increasing their game and content output for the series threefold by 2010. That means you can expect more subtitled Guitar Hero titles over the next couple of years. It also means that disc-based updates for the title are to be expected, rather than downloadable content.
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Activision pledges fresh innovation in the face of stiff competition from Skate. US publisher Activision has pledged to reassess its Tony Hawk’s franchise and introduce a number of new innovations into the next instalment, which is expected to hit shelves later this year. EA recently claimed that its new extreme-sports contender Skate had outsold Activision’s Tony Hawk’s Proving Ground by a ratio of 2-to-1.
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