Video game company Activision Blizzard reports massive revenue growth in 2020 after its Q4 earnings call showed $3.05 billion earned and over $8 billion across 2020. But despite increased earnings, the team states that Overwatch 2 will likely not release in 2021.
Activision Blizzard reporting just over $8 billion in revenue for 2020 with the success of all things Call of Duty leading the way. Bobby Kotick tells Yahoo Finance it's the best year in the company's 30 year history
— Rod Breslau (@Slasher) February 4, 2021
Activision Blizzard Earnings
With the quarterly earnings report, they were expected to earn $2.78 billion. Instead, the company surpassed expectations and shared Q4 earnings of $3.05 billion. In fact, Activision Blizzard ended its stock ($ATVI) 5% up at the end of Thursday.
“We had the best year in our 30-year history,” Activision Blizzard CEO Bobby Kotick said.
Many reasons came together to see the large growth of the company. The impacts of the global pandemic, in particular, led to many more people moving to video games. Activision Blizzard certainly saw this with the increased play on their titles. When looking at which titles performed the best, without a doubt the new Call of Duty title dominated sales.
Call of Duty Black Ops Cold War launched to great success and greatly helped the franchise. In less than three months, Activision Blizzard saw 128 million active users and over 100 million per month in 2020. Digital purchases increased by 40%, seeing tremendous gains in profit.
Overwatch 2 Delay
Unfortunately, Activision Blizzard revealed during its earnings call that Overwatch 2 will probably not launch in 2021. The announcement of the game excited many fans back in 2019 and despite updates on its development, fans will be disappointed at the news. The last update on the game’s progress came in December alongside the release of the Kanezaka map.
Based on the Q4 earnings report and 2020 revenue, Activision Blizzard gained a lot during this year. Although Call of Duty caused the most growth, World of Warcraft and Candy Crush came as other major contributors. The delay of Overwatch 2’s release is disappointing but fans must wait to see what other updates the company will share.
Written by Justin Amin
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