Electronic Arts

Predictability is above average for an entertainment business due to high recurring live‑services bookings (about 73 to 74 percent TTM) and annualized sports cycles that behave like tollbooths on fan engagement.

Q3 FY26 delivered record quarterly net bookings on Battlefield 6 without relying solely on new releases, underscoring multi‑pillar resiliency. Risks are hit‑driven volatility (e.g., underperformance of Dragon Age: The Veilguard; periodic Apex headwinds), and regulatory changes around randomized rewards.

Geographic diversity and digital distribution help smooth cycles.