《大行報告》大摩:暴雪潛在回歸對網易(NTES.US)影響輕微正面
摩根士丹利發表研究報告指,微軟(MSFT.US)旗下動視暴雪潛在回歸對網易(NTES.US)的影響輕微正面。根據該行的了解,一直關閉的暴雪中國伺服器自11月24日起已恢復存取。
該行提到,一旦暴雪回歸,相信網易比其他公司有更大的機會與其重建合作關係,因為網易擁有2008年原版許可協議下所有遊戲的中國許可。此外,自2008年以來,網易已經掌握了暴雪中國玩家的所有用戶資料及支援遊戲的基礎設備。
該行表示,雖然網易的自主開發業務已佔其遊戲總收入的95%,但估計暴雪潛在回歸中國或意味著每年收入達到超過30億人民幣,即佔網易遊戲總收入約4%。然而,該行認為,由於過去一年許多中國的暴雪遊戲玩家已經轉向其他遊戲,導致出現用戶流失的情況,因此,數據或會打折。該行相信,潛在的回報可能會以對網易更有利的財務條款來實現,而更好的財務條款或為未來額外的遊戲授權開闢途徑。
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