Frontier Developments shares plummeted amid low sales of F1 Manager 2022

Frontier Developments, located in the UK, has published a report for the current financial year — it led to a 40% drop in the company's shares.

This is due to the low sales of F1 Manager 2022, which amounted to 600 thousand copies.

The report says that at the time of the simulator's release in August, player engagement was high and in line with management expectations.

However, closer to the holiday season, the indicators began to fall. The situation was explained by the increased sensitivity of players to prices due to difficult economic conditions.

Other projects of the publishing house also performed worse than predicted. Frontier Developments CEO Johnny Watts said the company is reviewing its expectations for the next fiscal year.

She intends to expand the number of development teams to increase the frequency of release of new games.

The publisher is confident that it will be able to beat last year's revenue figure of 114 million pounds.