Adding Ads to Candy Crush Could Spark Growth at Activision; Raising Fair Value Estimate to $39
As Activision searches for new avenues for growth, one possible path could come from further monetizing the user base at the recently acquired King Digital by inserting third-party ads in the company’s mobile games. While we think Activision can generate some additional revenue this way, we would caution that substantial revenue contribution could take until 2018 and beyond to appear. We are maintaining our narrow moat rating but raising our fair value estimate slightly to $39 from $36 to accoun...Activision Blizzard is a global developer and publisher of interactive entertainment content and services. The company's segments are: Activision Publishing, Inc., which is a global developer and publisher of interactive software products and entertainment content, particularly for the console platform; Blizzard Entertainment, Inc., which is a global developer and publisher of interactive software products and entertainment content, particularly for the personal computers platform; and King Digital Entertainment, which is a global developer and publisher of interactive entertainment content and services, particularly for the mobile platform, including for Google Inc.'s Android and Apple Inc.'s iOS.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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