Why Activision Blizzard Is on Top Again
Activision Blizzard Inc. (NASDAQ: ATVI) is known as one of the biggest and most well-known game producers in the world, and Friday morning it continued to add to its legacy. The company announced its top-selling games of the year, along with the fact that it topped the charts on sales yet again.
The most recent installment in the Call of Duty series, Call of Duty: Advanced Warfare, claimed the top spot for best-selling console game of 2014, globally. This marked the sixth year running that the franchise had taken the top spot for sales in the United States based on revenue.
Coming in at second place for 2014 sales in the United States was Destiny, based on revenues. Destiny is also the top-selling new video game intellectual property (IP) of 2014 and it had the biggest launch of a new video game franchise in history, based on physical game unit sell-through data.
Eric Hirshberg, CEO of Activision Publishing, commented on the sales:
We’d like to thank our fans for making Call of Duty: Advanced Warfare the #1 top-selling video game in the world, Skylanders Trap Team the top-selling kids game in the world and Destiny the #1 new video game IP of 2014. As much fun as we had making these games, we’ve had even more fun playing alongside you. Stay tuned. We have more exciting games in store for fans this year.
Skylanders Trap Team was the top-selling kids’ game globally as well as in the United States for the third year in a row. This was based on retail sell-through, including toys and accessories.
Eric Hirshberg commented on Skylanders:
Skylanders continues its leadership position as the #1 kids video game franchise globally as well as in the U.S. by wide margins. As a global franchise in 2014, Skylanders is 30% bigger than its nearest competitor. And Skylanders Trap Team outsold its nearest competitor globally by 17%. As the creators of the ‘Toys to Life’ category, we are thrilled to continue to lead it for the third consecutive year.
Shares of Activision were up 6.5% at $19.75 shortly after the opening bell on Friday, and trading volume was already 2.4 million shares after only the first 15 minutes of trading. The stock has a consensus analyst price target of $25.91 and a 52-week trading range of $16.55 to $24.18.