Ubisoft’s latest earnings report shows that the French mega-publisher makes significantly more money selling PS4 games than Xbox One games. That’s not surprising, given that the PS4 is handily outselling the Xbox One globally. What’s somewhat surprising is that Xbox One owners seem to be spending more on Ubisoft games per user (as VentureBeat pointed out).
Ubisoft didn’t break this stat by user in its most recent earnings report, but it did report that 41 percent of its 2015 holiday quarter revenue came from PS4 game sales versus 27 percent from Xbox One game revenue. So overall, the PS4 market is currently worth about 52 percent more to Ubisoft than the Xbox One market (all of Ubisoft’s recent games have been released for both platforms).
However, the best available estimates of hardware resale suggest that there were 35.9 million PS4s in homes worldwide at the end of 2015, compared to 19.1 million Xbox One units. Based on those numbers, the size of the PS4 market should be 88 percent larger than the Xbox One market, all things being equal (the ratio changes only slightly when you look at estimates for consoles coming to the market by the end of the year). the shops are shipped).
Put all those numbers together, and it suggests the average Xbox One user is worth about 24 percent more than the average PS4 user for Ubisoft’s last quarter ($7.94 or $8.93 per Xbox One user). versus €6.42 or $7.22 per PS4 user, to be exact). Extending the outlook to the past nine months of Ubisoft revenue, individual Xbox One users still look about 18 percent more valuable than PS4 users.
This is actually a reversal from the last time we looked directly at Ubisoft’s platform revenue breakdown. In the spring of 2015, Ubisoft’s quarterly sales of PS4 games were worth twice the sales of Xbox One games, surpassing relative hardware sales of the PS4 at the time. Even looking at Ubisoft’s lifetime earnings as of mid-2015, an individual Xbox One user was only worth about 5 percent more than an average PS4 user. In the intervening six months, Xbox One owners appear to have increased their relative spend rate, according to Ubisoft’s data and sales estimates.
Of course, this is just a single data point from one major cross-platform third-party publisher. It’s entirely possible that other game makers see different revenue splits or that Ubisoft’s games are simply more appealing to Xbox One owners.
Still, Ubisoft’s revenue breakdown suggests the Xbox One may be more attractive to publishers than raw hardware sales numbers indicate. It’s at least worth bearing in mind as we see if the PS4 continues to increase its relative share of the global console market.