The SEA Group, the parent company of Shoppee, Garena, Airpay Limited among other brands, recently announced its final Q3, 2020 performance. Garena, among its other ventures, recorded a standout performance across all major key metrics. In this article, we will take a deeper look into the achievements made and how Garena, a leading mobile games publisher made an impact on the same in context with Free Fire. If you didn’t know Free Fire; is a massively popular survival-based Battle Royale mobile game available for PC, Android, and iOS. One of the key features of the game includes offering compatibility to lower-end devices.
Major highlights of Garena in Q3, 2020
1) Arrival of new players and a standard eSports environment
During the period of last quarter, Garena found itself welcoming more than Tens of Millions of people into its ever-expanding community. Free Fire along with its Esports scenario has been very successful, so far. The eSports covering Free Fire tournaments have managed to cross 150M+ online views to date. This further strengthens the prospects of growing even a larger player base hooked into playing the game competitively.
2) Sustaining Dominance in key regions
This isn’t all, Free Fire, as per official sources, continued to be the highest-grossing mobile game in Latin America and Southeast Asia in Q3, 2020. The game now boasts of 572.4 Million quarterly active users, which includes a 78.3% growth in Active Users. 65.3 Million quarterly users have been reported to be paying which is 123.6% more than Q3 of 2019.
3) Group Revenue highlights
- Total GAAP revenue was US$1.2 billion, up 98.7% year-on-year.
- Total gross profit was US$407.6 million, up 100.6% year-on-year.
- Total adjusted EBITDA1 was US$120.4 million compared to US$(30.8) million for the third quarter of 2019.
4) Digital Entertainment highlights
- Bookings were US$944.7 million, up 109.5% year-on-year.
- Adjusted EBITDA was US$584.5 million, up 119.8% year-on-year.
- Adjusted EBITDA represented 61.9% of bookings for the third quarter of 2020, compared to 59.0% for the third quarter of 2019.
- GAAP Revenue was US$569.0 million, up 72.9% year-on-year from US$329.1 million for the third quarter of 2019
What all of this implies and how it’s going to impact Free Fire
The Q3 performance this 2020 clearly reflects the commitment and sheer hard work the people over there in Garena are putting in. As a result, the player base of Free Fire has already seen a lot of new content in the form of collaborations and other interactive events.
The revenue generated in Q3 will surely be used, in parts, over enhancing the game even more. Players can expect more collaborations and events involving big brands in the near future. Garena is all set to step up the gear in the fourth quarter with Free Fire. This implies better servers, fewer hackers, and a classy rich gaming experience. New servers for several regions including South Africa are being introduced, already.
The esports scenario will also witness tremendous growth. Some aspects of this include having more official tournaments, a larger Prize Pool, better core management. This means making it viable for almost the entire player base to be able to participate in the official tournaments and all. So, now more players will truly feel like being part of the FF community. Many people will now seriously consider streaming Free Fire content on the Internet as a career option, as well. Thus, adding to the digital growth of individuals and nations.
All of this seems very promising and appealing to the player base but only time can answer how well the success achieved in Q3 will be sustained throughout the fourth quarter.
What do you think about Garena’s incredible performance in Q3 2020? Let us know in the comment section below!