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14
the Asia Pacific region. The increase in consolidated net revenues from North America and Asia Pacific was partially offset by
lower subscriptions revenues from World of Warcraft, lower catalog sales of Call of Duty titles as well as other titles, and lower
catalog revenues generated from World of Warcraft: Cataclysm and StarCraft II: Wings of Liberty, which were released in 2010.
Consolidated net revenues from Europe decreased slightly in 2012, as compared to 2011, primarily due to lower
subscription revenues from World of Warcraft, lower catalog sales of Call of Duty titles as well as other titles, lower catalog
revenues generated from World of Warcraft: Cataclysm and from StarCraft II: Wings of Liberty, which were released in 2010,
and lower revenues from our Distribution segment. The decrease was partially offset by sales from the Skylanders franchise
(both from the launch of Skylanders Giants in the fourth quarter of 2012 and the full-year revenues from Skylanders Spyro’s
Adventure, which was launched in the fourth quarter of 2011), Diablo III and World of Warcraft: Mists of Pandaria. Further, in
Europe and certain countries in Asia Pacific, net revenues were also negatively impacted due to the fact that we published titles
for Lucas Arts in 2011, such as Lego Star Wars III, while no comparable title was published in 2012.
The decrease in deferred revenues recognized in all regions for the year ended December 31, 2012, as compared to
2011 was primarily attributable to lower World of Warcraft subscription revenues, lower sales of Call of Duty digital
downloadable content packs and catalogs titles, and lower catalog sales of World of Warcraft: Cataclysm and StarCraft II:
Wings of Liberty, as well as an increase in revenues deferred due to the launch of both Diablo III and World of Warcraft: Mists
of Pandaria. The decrease was partially offset by the recognition of the deferred revenues from Call of Duty: Modern Warfare 3.
Foreign Exchange Impact
Changes in foreign exchange rates had a positive impact of $33 million, a negative impact of $114 million, and a
positive impact of $100 million on Activision Blizzard’s consolidated net revenues in 2013, 2012, and 2011, respectively, as
compared to the same periods in the previous year. The changes are primarily due to changes in the value of the U.S. dollar
relative to the Euro.
Net Revenues by Platform
The following table details our net revenues by platform and as a percentage of total consolidated net revenues for the
years ended December 31, 2013, 2012, and 2011 (amounts in millions):
Year Ended
December 31,
2013
% of total(5)
consolidated
net revs.
Year Ended
December 31,
2012
% of total(5)
consolidated
net revs.
Year Ended
December 31,
2011
% of total(5)
consolidated
net revs.
Increase/
(decrease)
2013 v
2012
Increase/
(decrease)
2012 v
2011
Platform net revenues:
Online subscriptions(1) .........................
.
$ 912 20% $ 986 20% $ 1,357 29% $ (74) $ (371)
PC ........................................................
.
340 7 675 14 282 6 (335) 393
Console
Sony PlayStation(3) .........................
.
963 21 876 18 948 20 87 (72)
Microsoft Xbox(4) ...........................
.
1,198 26 1,019 21 1,140 24 179 (121)
Nintendo Wii and Wii U ................
.
218 5291 6351 7 (73) (60)
Total console .......................................
.
2,379 52 2,186 45 2,439 51 193 (253)
Other(2) .................................................
.
629 14 703 14 259 5 (74) 444
Total platform net revenues .....................
.
4,260 93 4,550 94 4,337 91 (290) 213
Distribution ..........................................
.
323 7306 6418 9 17 (112)
Total consolidated net revenues ...............
.
$ 4,583 100% $ 4,856 100% $ 4,755 100% $ (273) $ 101
The increase/(decrease) in deferred revenues recognized by platform for the years ended December 31, 2013, 2012,
and 2011 was as follows (amounts in millions):
For the Years Ended December 31,
2013 2012 2011
Increase/
(Decrease)
2013 v
2012
Increase/
(Decrease)
2012 v
2011
Increase/(decrease) in deferred revenues recognized by platform:
Online subscriptions(1) .................................................................................. $ 107 $ (85) $ 202 $ 192 $ (287)
PC ................................................................................................................. 22 (37 ) 74 59 (111)
Console
Sony PlayStation(3) .................................................................................. 14 (30) (36) 44 6
Microsoft Xbox(4) .................................................................................... 87 3 (43) 84 46