Team17 sees sixth straight year of growth due to new releases

Team17 sees sixth straight year of growth due to new releases

Team17 experienced its sixth consecutive year of growth in 2020 with a 34 per cent revenue increase.

For the year ending December 31st 2020, the publisher generated £83 million ($115 million). Moreover, Team17's profit before tax grew 36 per cent last year to £26.2 million ($36.2 million).

The reason for such impressive growth comes down to the company's 10 new games releases, a record-breaking number for Team17. Overall, first-party titles accounted for 21 per cent of revenue.

Furthermore, the UK-based firm has expanded upon its first-party offerings, having snapped up Golf With Your Friends in a £12 million ($16.6 million) deal following Yippee Entertainment's acquisition last year.

Great year

"I am delighted that our Teamsters and the wider Team17 family have pulled together, in what has been a challenging 12 months for many," said Team17 CEO Debbie Bestwick.

"It is because of their hard work and creativity, alongside that of our brilliant label partners, that we can report yet another record year of profitability.

"Team17 has been able to offer gamers a means of escapism and a way to interact with their friends and family more than ever before, even when they were unable to meet face to face.

"The ability to enjoy interactive entertainment between multiple households is something that is almost unique to gaming, and we are pleased that our inclusive and family-oriented games have proven so popular."

To the future

Undoubtedly, Team17 will hope to see similar success this year, particularly as it has several games in the pipeline – Rogue Heroes, King of Seas, Epic Chef and more.

To top it off, a number of already released games will make their way to other platforms in 2021.

"2021 will be a very exciting and busy year for Team17, with more games signed to our label than any time in our history and new IP launches to look forward to, including Rogue Heroes, King of Seas, Narita Boy, Epic Chef, Super Magbot, Greak: Memories of Azur, Honey I Joined a Cult and Hokko Life with three new games still to be announced," said Bestwick.

"Alongside these, Hell Let Loose is due to exit Early Access and launch on PlayStation 5 and Xbox X/S, Overcooked! All You Can Eat will launch on Nintendo Switch, PlayStation 4, Xbox One & PC, and Worms Rumble will launch on Xbox X/S, Xbox One and Nintendo Switch. I look forward to updating our shareholders on our progress as the year goes on."

Staff Writer

Kayleigh is the Staff Writer for Besides PGbiz and PCGI she has written as a list writer for Game Rant, rambling about any and all things games related. You can also find her on Twitter talking utter nonsense.