Activision's Destiny Generates First Day Sales of $500M - Analyst Blog
Activision Publishing Co., a wholly owned subsidiary of Activision Blizzard (ATVI), recently announced that its highly-anticipated shooter title, Destiny, has generated record sales of $500 million in the very first day of its launch.
Destiny is a science-fiction shooting game developed by Washington-based game developer Bungie and published by Activision as part of a 10-year publishing deal. Activision launched the game on Sony’s PlayStation 3 & PlayStation 4 consoles as well as on Microsoft’s (MSFT) Xbox 360 and Xbox One.
Per reports, Activision had invested $500 million in developing and marketing Destiny, a sum which the game managed to recover on the very first day itself. The company believes that Destiny is all set to become the new billion dollar worth franchise much like Call of Duty, Skylanders and World of Warcraft.
Nevertheless, Destiny seems to lag behind the latest version of Take Two Interactive’s (TTWO) Grand Theft Auto V, which managed to sell $800 million worth of copies on the first day of its launch in Sep 2013.
Activision is depending on its new titles to bolster its top line in the upcoming holiday season. The company intends to launch new games under its Skylanders and Call of Duty franchises in October and November, respectively. World of Warcraft: Warlords of Draenor, a new expansion set for the popular online role-playing game is set to arrive this fall.
Moreover, Electronic Arts and Take-Two Interactive have delayed their much anticipated games Battlefield and Evolve to 2015, which will benefit Activision.
However, Activision’s limited presence in the mobile gaming segment, higher adoption of free-to-play games and significant competition from the likes of Electronic Arts (EA) and Take-Two Interactive are the major headwinds in the near term.
Currently, Activision has a Zacks Rank # 3 (Hold).
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Source: http://www.zacks.com/stock/news/147004/activisions-destiny-generates-first-day-sales-of-%24500m
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