Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Gaming Segment Grew By Almost 80% For Logitech In FY 2021 – $1.24B Revenue

Popular gaming brand, Logitech, grew impressively in its financial year ending in March 2021, benefitting from a spike in engagement felt by the entire gaming industry. According to data presented by Safe Betting Sites USA, Logitech’s revenue from gaming grew by 79.5% in FY 2021 to $1.24B.

Logitech’s Gaming Segment Earns More Than $1B in FY 2021

The gaming industry benefited from the lockdowns imposed in 2020 due to the Coronavirus pandemic. As people stayed indoors, video game engagement received a sustained boost throughout the year. As a result, Logitech’s gaming revenue grew by 79.5% in their financial year ending in March 2021 generating $1.24B.

From FY 2019 - FY 2021, Logitech’s gaming segment grew at an estimated compound annual growth rate of 38.33%. The strong uptick in gaming is also attributed to Logitech’s timely acquisition of live-streaming software, Streamlabs in Q3 of FY 2020 (Sep. 2019) for a reported $89M.

Streamlabs 2019 Acquisition Just In Time For 2020’s Pandemic

Streamlabs is software that streamers use to enhance the streaming experience that they provide their viewers. The 2019 acquisition of Streamlabs was just in time for Logitech to reap the benefits gained by the live-streaming industry in 2020. The video-game streaming industry experienced an enormous spike in the calendar year of 2020 as many found themselves seeking alternative forms of entertainment from the confines of their own homes.

Streaming itself also became a popular avenue for content creators making Streamlabs a valuable tool for streamers. In May 2021, Streamlabs mobile app revenue from iOS apps amounted to $30K and less than $5K from android apps. The Steamlabs: Live Streaming App was their most downloaded app in May 2021 with 90K downloads with all Streamlabs Apps totalling more than 100K downloads.

Rex Pascual, eSports editor at Safe Betting Sites USA, commented:

“Logitech’s purchase of Streamlabs could not have been more timely as just 6 months later the world was crippled by the Coronavirus pandemic. During the pandemic, video game streaming saw an enormous spike in engagement giving Logitech a significant boost in revenue. Expect Streamlabs to continue to give a strong return on Logitech’s investment as the gaming world builds on the momentum from 2020.”

You can read more about the story with more statistics and information at: https://www.safebettingsites.com/us/2021/06/21/gaming-segment-grew-by-almost-80-for-logitech-in-fy-2021-124b-revenue/

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


FIRST Union: Do Shareholders Realise Marsden Point Conversion Could Cost More Than Half A Billion Dollars?

FIRST Union, the union representing workers at Refining NZ, are querying whether shareholders voting on Friday on whether to convert the Marsden Point refinery to an import-only terminal realise the conversion could cost $650-700 million dollars... More>>



Civil Contractors: Massive Rebound In Civil Construction Business Confidence

New Zealand’s civil construction industry is riding a massive rebound in post-pandemic business confidence – but this may be undermined by skills shortages, which continue to be the industry’s number one challenge... More>>



Energy: Feeling Our Way Towards Hydrogen - Tina Schirr

Right now hydrogen is getting a lot of attention. Many countries are focusing on producing hydrogen for fuel, or procuring it, or planning for its future use... More>>


Transport: July 2021 New Vehicle Registrations Boosted By EV Rebate Scheme
Motor Industry Association Chief Executive David Crawford says that July 2021 sales of new vehicles were boosted by the recently introduced rebate scheme. July 2021 registrations were 15,053 units compared to 12,263 units for July 2020... More>>



ASB: New Support Finder Tool Helps Connect Customers With Thousands In Government Support

ASB research alongside benefit numbers from the Ministry of Social Development shows an increased number of Kiwis are struggling financially, and many may not be aware they’re eligible for government support... More>>


Housing: New Home Consents Continue To Break Records

A record 44,299 new homes were consented in the year ended June 2021, Stats NZ said today. “The annual number of new homes consented rose again in the June 2021 year, the fourth consecutive month of rises,” construction statistics manager Michael Heslop said... More>>