Earlier this week, Frontier Developments released its financial reports for fiscal year 22 ended May 31, 2022.
While F1 Manager 2022 is unlikely to be part of these figures as it was released after the fiscal year ended, the reports suggest the title is off to a good start.
“The reduction from last year reflects larger investments in significant game developments for release in future years, including F1 Manager 2022, which was successfully released in August 2022 (in fiscal year 23) and our real-time strategy game Warhammer Age of Sigmar for fiscal year 2022 24,” said Alex Bevis, Frontier Developments chief financial officer.
In general things seem to be improving. Currently, F1 Manager 2022 is trending up and ahead of what another Frontier product, Jurassic World Evolution 2, is chasing. Much like Assetto Corsa for the Digital Bros., we could see the launch of another racing juggernaut in terms of revenue that leads for a multi-genre gaming company.
“Our teams have already delivered other great content in FY23, with the expansion Jurassic World Evolution 2: Dominion Biosyn coming out in June 2022 alongside the film Jurassic World Dominion from Universal Pictures and Amblin Entertainment, another excellent PDLC pack for Planet Zoo and a major new game release through the launch of F1 Manager 2022 in late August 2022 (all after the end of FY22),” said David Braben, FY22 Chief Executive Officer, current President and Founder of Frontier.
“I’m particularly excited about initial player engagement with F1 Manager 2022 as this is an important new sports franchise for Frontier, with annual titles planned for at least the next three years (2023, 2024 and 2025),” added Braben added.
Source: Border Developments
Since its August 30 release, F1 Manager 2022 has seen huge success in the UK and Western Europe, but the US is certainly a place for the franchise to grow in the future.
“The outsourced work for our F1 Manager 2022 game was particularly important as we needed to deliver a large amount of assets to support the modeling of 22 racetracks and their surroundings,” said Bevis.
“We will be able to leverage this investment into our future F1 Manager titles.”
This may indicate high development costs for the initial release, with less research and development investment required per year as the franchise progresses.
The title saw itself at number four in the UK sales charts in its first week of existence. As it stands, the payout for Frontier Developments seems substantial right away, with work already underway for the 2023 title.
The forthcoming Frontier roadmap confirms this by stating that “initial sales for F1 Manager 2022, the first title in our annual Formula 1 management game series, have been strong and in line with our expectations, giving us further confidence as we develop F1 Manager Evolve 2023 (for release in FY24).”
Overall, the company reported very positive year-on-year growth with revenue up to £114m, up 26 per cent, while net cash was down from £42m to £39m.
With the last point above that net cash was down year-on-year, the company reports that figure now stands at £53m after the first quarter of fiscal 23.
1.7 UPDATE DELAYED
Frontier Community Manager Steve James posted an update on the upcoming update on the F1 Manager 2022 subreddit on Thursday. After the release of the financial reports the day before, Frontier’s Steve updated players on the upcoming 1.7 update of the title, originally scheduled for mid-September.
“Due to the many changes we are introducing with this patch, the team needs a little more time to test everything,” wrote Steve. “With that in mind, the patch will likely be ready to roll out next week for both PC and console versions of the game.”
The next update for F1 Manager 2022 is on the way, including several changes based on feedback from you, the players 💛
Listen to our recent Twitter Spaces chat to learn more 👇https://t.co/w1CCOTx18F
— F1® Manager 2022 | NOW OUTSIDE! 🏁 (@F1Manager) September 15, 2022
It may still land in September, but a little later than the hoped-for date of between September 19th and September 23rd that fans were told on Twitter Spaces. We will follow up when more information becomes available.
Source: Border Developments