Electronic Arts (EA) net bookings as of Q4 2024, by composition

In the fourth quarter of the fiscal year 2024, game publisher Electronic Arts (EA) generated over 1.4 billion U.S. dollars in net bookings via live services. Full game sales generated 259 million U.S. dollars in net bookings during the same period. Net bookings are defined as the net amount of products and services sold digitally or sold-in physically in the period. Net bookings are calculated by adding total net revenue to the change in deferred net revenue for online-enabled games.

Live services are EA’s revenue generator

Gaming companies have pivoted to monetizing their titles beyond the initial purchase and are constantly working on keeping online players engaged via new characters, battle seasons and other in-game content. EA’s portfolio of live service games includes sports franchises FIFA, and Madden NFL, as well as Battle Royale title Apex Legends, first-person shooter Battlefield V, and life simulation the Sims. All these titles are long-running series with new installments and downloadable content (DLC) being released regularly. On the flipside, the focus on live-service games means fewer big new releases, leading to a stagnation of the market in regard to new IPs (IP is short for intellectual property and a new IP refers to a new game which is not a spin-off or sequel of an existing game).

Sports gamers are likely to spend money

EA is constantly seeking to expand its EA Sports portfolio. In February 2021, EA announced a return to EA Sports College Football. This strategic decision is driven by several factors. First, sports gaming audiences are highly engaged and willing to spend money on additional gaming content. Second, any college football game will include rosters without names, images or likenesses or real college players to adhere to NCAA rules, which works in EA’s favor as the company as this keeps licensing costs low. And last, college football is a major pastime in EA’s biggest single market, the United States. All the pieces are lining up for EA to have another major moneymaker on their hands.