Lockdowns boost Yorkshire video games developer

The Wakefield-based firm, best known for the Worms video game franchise, said revenue jumped 34 per cent and earnings rose 36 per cent in the year to December 31. The firm said 2020 was "an extraordinary and challenging year for many".

The group said its growing portfolio performed well in the second half of 2020, particularly over the peak Christmas trading period.

It launched nine titles in the second half, more than any previous year despite the impact of ever changing working restrictions as a result of the pandemic.

Additions to the Worms, Escapists and Overcooked franchises were part of the 12 titles launched in the year across a variety of platforms, strengthening its diverse gaming portfolio.

The group said it was particularly pleased with the performance in the peak November and December months and itmaintained strong retail pricing in the face of an aggressive competitive environment, which it said was a testament to both the quality of its portfolio and its talented commercial team.

Team17 is monitoring the potential headwind impacts of the prolonged pandemic, uncertain macro-economic and consumer environments alongside manufacturing and supply chain challenges facing next generation and existing gaming hardware. It expects these to be ongoing and key considerations in 2021.

The firm said it looks ahead to 2021 with confidence in its pipeline and its teams’ ability to continue to build the business.

New launches will include Worms Rumble and Overcooked: All You Can Eat on more platforms, Rogue Heroes, The Unliving, Epic Chef, Super Magbot, Greak: Memories of Azur, Honey I Joined a Cult and Hokko Life.

Team17 also announced the acquisition of Golf With Your Friends (GWYF) for £12m.

GWYF is a multiplayer golf video game created by Australian developer Blacklight Interactive and published by Team17.

The acquisition will enable Team17 to expand both its portfolio and franchise footprint, enabling the group to increase 1st party IP and create additional opportunities to extend the life cycle of the existing game. This will include further downloadable content as well as exploring potential sequels and other opportunities for the GWYF IP.

Debbie Bestwick, chief executive of Team17, said: “2020 is definitely a year we will not forget in a hurry and also provides insights into the challenges we can expect as a workforce in 2021.

"Whilst the board and I are very pleased with the financial results, we are even more pleased with the resilience and dedication shown by our teamsters and label partners to deliver, launch and sell the complex games we made in 2020."