Nintendo (NTDOY) Q1 2024 Mobile and IP related revenue topped $220 million, up 190%

Nintendo's mobile and IP-related revenue has more than tripled year-over-year, thanks mainly to The Super Mario Bros. Movie.

Universal Pictures

Nintendo's financial quarters are usually analyzed by the number of games sold and the money made from those sales. This specific earnings report for Nintendo offers an interesting note regarding sales outside of hardware and software. Nintendo's Q1 2024 report also includes a note that mobile and IP-related revenue has topped $220 million USD, which is up 190 percent. That's mainly stemming from the release of box office juggernaut The Super Mario Bros. Movie.

The Super Mario Bros. Movie's effect on Nintendo's Q1 2024 earnings

Source: Nintendo

"In the first quarter of this fiscal year, both sales and profits were notably large for a first quarter mainly due to the concurrent releases of The Super Mario Bros. Movie and The Legend of Zelda: Tears of the Kingdom, and we made steady progress toward our full-year earnings forecast," reads the Nintendo Q1 2024 Financial Results Explanatory Material slides.

According to Nintendo's financial results, The Super Mario Bros. Movie has been viewed by 168.10 million people worldwide. The movie recorded $1.349 billion USD at the box office, which is the highest ever for an original movie based on a video game and the second-highest all-time for an animated film, period, behind only Disney's Frozen 2. In addition to its box office earnings, Nintendo has cited The Super Mario Bros. Movie as a primary catalyst for a recent boost in sales for Mario Kart 8 Deluxe and other Mario titles.

Nintendo's mobile and IP-related revenue as a whole is up 6.9 percent this year, which is up from 3.5 percent at this point in 2022. As a result of The Super Mario Bros. Movie's monetary intake and its effect on Nintendo's software sales, Nintendo notes that it will "continue our efforts towards visual content-related initiatives." Whether this means that a rumored Legend of Zelda movie comes to pass, despite Illumination's recent denial, remains to be seen. For sure, a Mario movie sequel will come eventually, at least that's according to star Chris Pratt. We'll continue watching for more news on The Super Mario Bros. Movie as it comes in, especially as we prepare to watch it on Peacock.

Senior Editor

Ozzie has been playing video games since picking up his first NES controller at age 5. He has been into games ever since, only briefly stepping away during his college years. But he was pulled back in after spending years in QA circles for both THQ and Activision, mostly spending time helping to push forward the Guitar Hero series at its peak. Ozzie has become a big fan of platformers, puzzle games, shooters, and RPGs, just to name a few genres, but he’s also a huge sucker for anything with a good, compelling narrative behind it. Because what are video games if you can't enjoy a good story with a fresh Cherry Coke?

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