The amount of guarantees that game publisher/developer Glu Mobile pays to licensors will drop sharply this year as it focuses on a narrower assortment of licensed mobile titles including Major League Baseball, World Wrestling Entertainment (WWE) and Disney/Pixar, Chief Financial Officer Eric Ludwig told analysts.

The WWE game was released in beta in February and will launch mid-year, while the Disney title, which will include Disney and Pixar characters, is expected to be released in 2019.  MLB Tap Sports Baseball launched on March 27 and generated revenue of $1.2 million in Q2, Ludwig said.

Glu Mobile expects revenue from new titles this year to account for 10% of total company revenue 9down from 15% forecast earlier). “Going from 15% to 10% is really about being conservative and building on what we learned from out our legacy and history” with licensed celebrity-based games, Ludwig said.

The company’s Q1 net loss narrowed to $7.2 million from $22.8 million a year ago as revenue rose 43.3% to $81.4 million.

Contact:

Glu Mobile, Eric Ludwig, CFO, 415-800-6100, eric.ludwig@glu.com