Media and Games Invest: Spring cleaning

Research Update



Redeye updates its view on Media and Games Invest following its Q4 2022 report. The organic growth of 13% was a sign of strength in a harsh advertising environment. MGI strengthened the balance sheet, and the leverage ratio was reduced to 2.7x on a pro-forma basis. The quarter was characterized by the streamlining of the organization as MGI discontinued older, low-ROI PC MMO games and sold its stake in EG7. The focus ahead will be on games that are accretive to the media segment. Games with first-party data and ad inventories that could be sold through MGI’s ad tech platform.



Danesh Zare

Viktor Lindström

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