TURTLE BEACH CROSSES
$1 BILLION IN LIFETIME GLOBAL
REVENUE FROM
GAMING HEADSET BUSINESS
Turtle Beach’s Full 2015 Product
Lineup is Now Available at Retail,
Marking the Completion of a Two-Plus
Year Transition to the Company’s
Industry Leading Portfolio of Gaming
Headsets for Next-Gen Consoles
Turtle Beach has Been Recognized for
the Second Year in a Row in
MCV UK’s 2015 Annual Retail Survey for
Producing Best Quality Peripherals
San Diego, CA – December 17, 2015 – Turtle Beach Corporation (NASDAQ: HEAR), the leading-edge audio technology company and #1 in gaming audio, has surpassed $1 billion in lifetime global revenue generated from its
gaming headset business since pioneering the category nearly a decade ago. Further, the recent
launches of its Recon series gaming
headsets marks the Company’s completion of its industry leading portfolio for
the Xbox One and PlayStation®4 consoles, with high-quality,
feature-packed products across the spectrum of price points that cater to both hardcore
and casual gamers.
As Turtle Beach’s full 2015 lineup of gaming headsets are now available
at retail, highlights from NPD’s November 2015 U.S. retail data* show strong
reception to the brand during the busiest time of the year where the Company
generates a majority of its revenue. Key year-to-date highlights include: four
out of five of the best-selling third party gaming headsets (by revenue) are
from Turtle Beach; the Ear Force® XO One is the best-selling Xbox One headset and best-selling third party
headset (by revenue); and the Ear Force Stealth 400 is the best-selling third party headset (by revenue) for PS4™.
Additionally, Turtle Beach’s Recon series
gaming headsets, which hit store shelves from mid-September through
mid-October, are also performing well. The Ear Force Recon 50X and Ear Force Recon 30X are two of the top five best-selling Xbox One headsets under $50 for the
month of November, based on November 2015 Average Selling Price (ASP), while
the Ear Force Recon 60P and Ear Force Recon 50P are already the second and third best-selling PS4 headsets in the market
under $50 for the month of November, based on November 2015 ASP.
“With our latest products available at retail in time for this year’s
holiday season, we have completed the final step in our product transition for
the latest consoles, and the strong reception from gamers and retailers alike
makes it all worthwhile.” said Juergen Stark, Chief Executive Officer, Turtle
Beach Corporation. “When you look at the variety of products we’ve created both
in terms of price points and features, along with the innovation we’ve
delivered, like being the first to offer 100% fully wireless headsets for Xbox
One, introducing DTS Headphone:X 7.1 Surround Sound into gaming headsets, and
creating our signature Superhuman
Hearing™ audio preset, we’re proud to be delivering headsets that give
gamers a more immersive experience and a competitive advantage. Hear
Everything…Defeat Everyone!”
On the international front, Turtle Beach has also made significant gains
in Germany and the United Kingdom. According to the latest information from GfK
/ GfK Chart-Track**, the Company is the market share leader for console
headsets in both territories. In addition, MCV UK has released results from
their 2015 Annual Retail Survey, and Turtle Beach was recognized the
second year in a row for producing the best-quality peripherals. For MCV’s
survey, the gaming editorial publication spoke with over 130 different games
stores across the UK – both independent outlets and the big chains, with 28% of
stores naming the Company as the accessory brand with the highest quality, up
from 27% in 2014.
For more
information on the latest Turtle Beach gaming headsets and accessories, visit www.turtlebeach.com and be sure to follow Turtle
Beach on Facebook, Twitter and Instagram.
About Turtle Beach Corporation
Turtle Beach Corporation (www.turtlebeachcorp.com) designs leading-edge audio
products for the consumer, commercial and healthcare markets. Under the Turtle
Beach brand (www.turtlebeach.com), the Company markets a wide
selection of quality gaming headsets catering to a variety of gamers’ needs and
budgets, for use with video game consoles, including officially-licensed
headsets for the Xbox One and PlayStation 4, as well as for personal
computers and mobile/tablet devices. Under the HyperSound brand (www.hypersound.com), the Company markets pioneering
directed audio solutions that have applications in digital signage and kiosks,
consumer electronics and healthcare.
Forward-Looking
Statements
This
press release includes forward-looking information and statements within the
meaning of the federal securities laws. Except for historical information
contained in this release, statements in this release may constitute
forward-looking statements regarding assumptions, projections, expectations,
targets, intentions or beliefs about future events. Forward looking statements
are based on management’s statements containing the words “may”, “could”,
“would”, “should”, “believe”, “expect”, “anticipate”, “plan”, “estimate”,
“target”, “project”, “intend” and similar expressions constitute
forward-looking statements. Forward-looking statements involve known and
unknown risks and uncertainties, which could cause actual results to differ
materially from those contained in any forward-looking statement.
Forward-looking statements are based on management’s current belief, as well as
assumptions made by, and information currently available to, management.
While the Company believes that its
expectations are based upon reasonable assumptions, there can be no assurances
that its goals and strategy will be realized. Numerous factors, including risks
and uncertainties, may affect actual results and may cause results to differ
materially from those expressed in forward-looking statements made by the Company
or on its behalf. Some of these factors include, but are not limited to, the
substantial uncertainties inherent in acceptance of existing and future
products, the difficulty of commercializing and protecting new technology, the
impact of competitive products and pricing, general business and economic
conditions, risks associated with the expansion of our business including the
implementation of any businesses we acquire, our indebtedness, and other
factors discussed in our public filings, including the risk factors included in
the Company’s most recent Annual Report on Form 10-K, most recent Quarterly
Report on Form 10-Q and the Company’s other periodic reports. Except as
required by applicable law, including the securities laws of the United States
and the rules and regulations of the Securities and Exchange Commission, the Company
is under no obligation to publicly update or revise any forward-looking
statement after the date of this release whether as a result of new
information, future developments or otherwise.
*Source: The NPD
Group, Inc., U.S. Retail Tracking Service, Jan. – Nov. 2015, Dollars
**Source: Total
value week 1-50 over units gives the ASP for the year, to determine price band
analysis
For Media/PR
Information, Contact: For
Investor Information, Contact:
MacLean Marshall Cody
Slach
PR/Communications
Director Investor
Relations
Turtle Beach
Corp. Liolios
858.914.5093 949.574.3860
maclean.marshall@turtlebeach.com hear@liolios.com
Keith
Hennessey
EU
Communications Sr. Manager
Turtle Beach
Corp.
+44 (0)
1254-51725
keith.hennessey@turtlebeach.com