‘Lord of the Rings’ Owner Embracer Reports 10% Drop in Entertainment Sales, Blames Tolkien IP for ‘Lower Activity’
Embracer has reported disappointing results for the second quarter of 2024, reporting a large drop in net sales of 21% across the gaming group to SEK 8.6 billion ($782 million), with net sales of its entertainment and services also dropping by 10%.
In its entertainment and services division, which also includes comic book publisher Dark Horse Media, Embracer reported a 14% drop in organic growth, which it put down to “lower activity and tough comparison figures year on year” within subsidiary Middle-earth Enterprises, the holding company for “Lord of the Rings.” Related Stories VIP+ Web Traffic Patterns: Established News Brands Cede Ground to Partisan Political Upstarts Lady Gaga Sings 'God Bless America,' and Oprah Winfrey Pleads for 'Voting for Healing Over Hate,' to Close Out Kamala Harris' Final Campaign Rally
While Middle-earth Enterprises had a “slow quarter” year-on-year due to a lack of new games releases, it did provide “higher film revenue than expected,” the company reported. Popular on Variety
