Codemasters releases F1® 2020 after revealing revenue rise

Codemasters F1® 2020

Codemasters, the award-winning British video game developer and publisher headquartered near Leamington Spa, has released its F1® 2020 for PlayStation®4 computer entertainment system, the Xbox One family of devices including the Xbox One X, Windows PC (DVD and via Steam), and, for the first time, Google Stadia. 

Last month, the company reported a rise in revenue of 6.8 per cent to £76.0 million with gross profit  increased 4.5 per cent to £65.2 million.

Commenting on the results last month, Frank Sagnier, CEO of Codemasters, said: “Our first full financial year since admission to AIM has been a period of significant progress across the Group. Despite only having two game launches we have delivered further growth in revenues, gross profit and digital sales increasing over the period. We have also continued to strengthen our leadership in the racing genre, achieved against the key strategic objectives that were set out at the time of IPO.

“The acquisition of Slightly Mad Studios in November 2019 created diversified revenue streams, through two highly rated franchises, and added over 150 product developers, and we expect it to be earnings enhancing in FY21.

According to Ukie, (UK Interactive Entertainment), the trade body for the UK’s games and interactive entertainment industry, games companies in the West Midlands contributed £130.9 million in gross value added (GVA) in 2016. While Birmingham and Leamington Spa have around the same number of active companies, Birmingham is mostly home to smaller, newer businesses, whereas major studios such as Codemasters in the longer-established Leamington Spa games hub generated more than ten times the economic impact. At £101 million in GVA, Leamington was the largest single economic contribution outside London and the Slough/Harrow area.

The company’s latest game, F1® 2020, is one of the highest-scoring games of 2020 according to aggregator site Metacritic, averaging 91% on Xbox, 89% on PC and 86% on PlayStation 4. 

Frank added: “We have been overwhelmed with the response from both the media and our players. My Team has been 10 years in the making, and it’s been worth the wait. With the revised F1® 2020 season starting last weekend, the stars have aligned, and both the sport and videogame are back in the spotlight where they belong.”