Of all the listed UK video games companies, perhaps Team17 (LON:TM17) is the standout success in terms of both share price performance and sustained high levels of financial growth. Since being founded in 1990, the group has grown to a market cap of nearly three quarters of a billion pounds with annual sales of nearly £62m. We can see TM17 has outperformed the rest of the set I’m looking at over the past two years, with much of that outperformance coming in 2020. Team17 is a video games label and creative partner for indie developers – the group supports both owned first party IP and third party IP, and typically receives a fixed revenue share. After becoming too dependent on its flagship Worms IP, Team17 restructured and refocused a couple of years ago before listing in 2018. Today, its areas of expertise are: Product acquisition: identifying and partnering with highly creative indie developers to help create quality titles. IP amp; product incubation: a 100+ employee internal creative development studio has been established to build up TM17’s own-IP content library.Go-to-market execution: the group promotes its games on…
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