Good news, Tolkien fans: Lord of the Rings is still bringing in the big bucks — and it’s got nothing to do with the much-hyped Prime Video series, surprisingly.
According to Embracer Group, which bought the Lord of the Rings property last summer in a deal worth roughly $395 million, the property is performing “well ahead of the business plan,” thanks primarily to its gaming licenses.
The success of LoTR — specifically the survival crafting game The Lord of the Rings: Return to Moria and the trading card game The Lord of the Rings: Tales of Middle-Earth, both of which were specifically called out by Embracer — was a significant factor in the growth of Embracer’s Entertainment & Services division, which grew 70% in the past quarter, according to the company. That’s good news, given that Embracer just announced a restructuring and lay-offs in June because of concerns over the company’s financial wellbeing.
During the earnings call, the company said that “good progress” is being made when it comes to that restructuring, which is expected to take nine months to roll out completely. “We now have increased confidence regarding earnings this year and we are on track to deliver on the restructuring program announced in June, with a series of initial actions now taken,” CEO Lars Wingefors explained, saying that he is “confident we will emerge a stronger company.”
One of the reasons for that confidence? The Swedish company said that it’s planning “many other exciting new products that will grow the [Lord of the Rings] IP further.” Smaug would be proud. Might we suggest a Lord of the Rings comics? After all, Embracer also owns Dark Horse Comics…
This might have you wanting to revisit Middle-Earth on film. We’ve got a guide for that.