Team17 sees 2020 revenues soar after record number of game launches

UK publisher released ten new games last year, with another busy schedule expected in 2021

Team17 had a very strong 2020, with significant boosts to revenue and profits and a record number of new releases.

In the year ending December 31, 2020, the UK-based publisher earned £83 million in revenue, up 34% over the previous year.

The firm's pre-tax profit was £26.2 million, a similar rise of 36% year-on-year.

Overall, Team17 released a record ten new games in the calendar year, and its first-party products contributed 21% of its total revenue.

The company has expanded its first-party capacity significantly, primarily with the acquisitions of Yippee Entertainment and -- in January this year -- the Golf With Your Friends IP.

At the end of 2020, Team17 had 250 employees -- 25% more than its 200-strong team at the end of 2019.

Looking ahead, the company expects another busy year for releases, among them Rogue Heroes, King of Seas, Narita Boy, Epic Chef, Super Magbot, Greak: Memories of Azur, Honey I Joined a Cult, and Hokko Life.

Team17's strong performance is reflected in its share price. At the start of 2020, its stock was trading at just under £3.90; at the end of the year, it was just above £7.90.

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