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Frontier Developments Set For Revenue Boost As Game Nears Launch

Tue, 04th Nov 2014 09:55

LONDON (Alliance News) - Frontier Developments PLC Tuesday said it is on track to release its Elite: Dangerous game in the current quarter of the year, after saying the Beta phase of the game's development will end on November 22.

In a statement, the video game developer said It will hold a worldwide premiere for the game at the Imperial War Museum in Duxford on the day the beta test ends.

Frontier added that it has now raised total funding via Kickstarter, the crowd-funding website, and its own site of over GBP7.5 million from over 140,000 backers in order to develop Elite: Dangerous.

"Development continues to track well for a 2014 launch, and the end of a successful Beta phase on the 22nd November means we expect to be able to recognize a substantial portion of the deferred revenue received before the end of the calendar year," Frontier Chief Executive David Braben said in a statement.

Frontier shares were up 0.9% at 270.00 pence Tuesday morning.

By Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1