Group strategy

Empowering great people, great companies, and great ideas

Optimizing our model and strategy

Embracer Group is a global group of gaming and entertainment businesses. Its more than 11,000 passionate professionals deliver entertainment to gamers and value to customers around the globe supported by one of the industry’s largest and most exciting portfolios of intellectual property.

Embracer Group has a decentralized operating model where great entrepreneurs run operations through operative groups – each with their own distinctive heritage, branding, business strategy, and other characteristics – all within a shared framework of governance and accountability.

Group values

Embracer Group has come a long way on its journey to be a substantial, lasting, and sustainable Group. The long-term strategy is underpinned by its three Group values: trust, long-term mindset, and embracing. We empower great people to make the right decisions and pursue great ideas and reach their full potential, all within our common framework of governance and accountability.

The Embracer Ecosystem

Group Level

The Embracer Group head office hosts control and support functions, provides access to capital, shared knowledge, intra-Group synergies, and a solid governance framework. The organization is lean as the operative groups have significant responsibility for managing commercial operations and for implementing the governance framework including financial control, governance, compliance, human resources, and communication.

Operative Groups

The operative groups serve as primary ecosystem building blocks. They have financial and operational responsibility and accountability, and run the businesses largely independently from each other, based on Embracer Group’s values and governance model and with active support and coordination from Group-level functions.

Companies and Studios

Embracer Group adapts a multi-brand strategy where game and entertainment consumers meet Embracer through any of the numerous brands, each with its unique way, style, and spirit.

Operating model

Empowering entrepreneurs

Embracer Group comprises an ecosystem for studios, publishers, and other gaming and entertainment companies. The collaborations, empowerment, and business opportunities presented to companies are unique and provide a strong incentive to be part of Embracer Group. Embracer Group employs a decentralized operating model. The model provides operative group CEOs, founders, and studio heads with creative freedom based on accountability, while acting under our shared Group values and following Embracer Group’s framework for control, reporting, governance, and compliance. This approach fosters creativity, speed, and relevance.

Synergies are encouraged

While employing a decentralized operating model, the Group seeks to realize synergies between operative groups where possible and deemed appropriate. This may include collaboration, spread of best practices, as well as IP and talent sharing. Centrally mandated integration initiatives are also considered in order to foster win-win synergies, both in terms of revenue and cost-savings.

Capital allocation

Embracer Group management continuously evaluates the performance and outlook of the 11 operative groups. Capital allocation decisions above a certain level, including for example game development projects, must be approved by the parent company. The Group strives to create a more comprehensive, centralized process for game investment and progress review, while maintaining creative freedom for each operative group. Diversification between operating segments and operative groups increases capital allocation opportunities and flexibility with regard to project management and IP management, while the approval process aims to focus capital allocation where it is expected to deliver the best return on investment. Embracer employs a model based on risk-adjusted profit and cost of capital.

Operating segments

Embracer Group is organized in four operating segments: PC/Console Games, Mobile Games, Tabletop Games and Entertainment & Services.

Through these operating segments, Embracer Group has strong market positions in PC, console, VR, mobile, and tabletop games, as well as niche positions in film and comic book publishing, including attractive partner publishing. Together these operating segments form a growing ecosystem that is unique in the industry.

Market value chain

Embracer Group retains a strong position in all major value creating areas of the gaming market value chain.

The Group hosts an intellectual property portfolio consisting of more than 900 game titles, 106 internal development studios worldwide and a global capacity for online and physical retail publishing.

Growth model

At Embracer Group, building value through our IP is central. The Group strives to leverage its unique IP portfolio, structure, and development capacity as a basis for building a presence across key entertainment media formats. Over the past several years, the Group has invested significantly in building one of the largest providers of PC/Console content in the industry.

Organic growth is mainly driven by the release of new games, additional content and revitalized IPs, and increased investments in user acquisition activities and marketing. An additional important source of organic growth is catalog sales. Embracer Group’s diversification and capabilities within the ecosystem coupled with its vast IP portfolio, now consisting of over 900 IPs, including some of the most popular and iconic titles in gaming, comics, and other media gives a solid foundation for organic growth in the coming years.

Read more about our growth model in our latest annual report.

Embracer Group’s growth journey

Financial model

Embracer Group is run by entrepreneurs and owned by entrepreneurs. Our, broad, diverse group of businesses is our strength. Any approved individual game development project presents a considerable business opportunity, but there is also an inherent risk element. Therefore diversification really matters. As the group has grow from 1 to 11 operative groups since 2016, there is a limited dependency upon single titles. This results in an attractive risk profile, while enabling our studios to be creatively bold in their mindset when developing games.

Read more about our financial model in our latest annual report.

/ About


Embracer Group is a global group of creative and entrepreneurial businesses in PC/console, mobile and board games and other related media. The Group has an extensive catalog of over 900 owned or controlled franchises.

With its head office based in Karlstad, Sweden, Embracer Group has a global presence through its ten operative groups: THQ Nordic, PLAION, Coffee Stain, Amplifier Game Invest, DECA Games, Easybrain, Asmodee Group, Dark Horse Media, Freemode and Crystal Dynamics – Eidos. The Group has 106 internal game development studios and is engaging more than 11,000 employees in more than 40 countries.