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‘Lord Of The Rings’ Owner Embracer Sees Full-Year Entertainment Sales Grow To $678M
Embracer Group's masterplan to build on its 'Lord of the Rings' IP is in its infancy, but the signs are good.
Embracer said “the strong adjusted EBIT growth and higher margins YoY is primarily explained by stronger-than-expected licensing revenue for The Lord of the Rings IP,” which sits in Middle-earth Enterprises unit within the Freemode operating group. Last month, Embracer group CEO Lars Wingefors said the Lord of the Rings universe could “become a key driver in the coming decades,” while playing up the potential of new new Tomb Raider streaming and film titles. In April, it was announced that Embracer would split its operations into three, with new unit Middle-earth Enterprises & Friends housing Lord of the Rings and Tomb Raider.
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