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‘Lord of the Rings’ Owner Embracer Reports 10% Drop in Entertainment Sales, Blames Tolkien IP for ‘Lower Activity’
‘Lord of the Rings’ owner Embracer has reported 10% drop in their entertainment sales division, which they put down to 'lower activity’ of Tolkien IP.
While Middle-earth Enterprises had a “slow quarter” year-on-year due to a lack of new games releases, it did provide “higher film revenue than expected,” the company reported. After a rocky few years for the Swedish-headquartered conglomerate, which has undergone a vigorous restructuring and divestment program, it is set to split into three publicly traded companies by 2025. However, we acknowledge that parts of our PC/Console and Entertainment & Services segments are still underperforming due to delays and low ROI for primarily small and mid-sized releases.
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