According to financial website Seeking Alpha, Apex Legends, an Electronic Arts’ battle royale game is not a significant competitor for Epic Games’ famous and best-sold “Fortnite”, and its worth is much less than its suggested stock value.
The website read that the interest in the battle game is declining, and the company is facing a significant decline since the game composes a considerable segment of EA’s stock valuation.
Apex Legends is created and developed by “Titanfall” developer Respawn Entertainment, and it was released on PC, Playstation 4, Xbox One. The game was launched on February 4 and made it to a number of 50 million players in less than 30 days. Comparatively, it took Fortnite 100 days to acquire a number of 45 million players, but the website Seeking Alpha claimed that much of Apex Legends’ initial traffic was not organic. EA has spent millions of dollars on well-known streamers such as Ninja, who played and advertised the game on his Twitch channel, but as soon as the streamers quit playing, the interest in Apex Legends immediately decreased.
StreamElements announced the number of hours gamers spent watching Apex Legends dropped from over 40 million in February to over 10 million in March. According to Seeking Alpha, Google searches and also Twitch viewer audience are considerably low as well. Streamers such as Ninja and Dr. Disrespect have returned to playing other games like Fortnite, and the latter even compared Apex Legends with the Daybreak’s failing battle royale title, “H1Z1”.
Seeking Alpha further declared that the opinions of these influencers are crucial and should be taken seriously as they have the power to gather and then cultivate more interest for a game. The website added that since they are experienced gamers, they have seen many titles live and die, and they know the market a lot much better than most investors.
Apex Legends is worth approximately $1.8 to $2.4 billion, Seeking Alpha believes, price much lower than the $7.4 billion and valuation given by the market after its launch.
Juana loves to cover the tech and gaming industry, she always stays on the first row of CES conference and reports live from there.