INVEST

Date of Update: 01/23/2020

Turtle Beach

Ticker: HEAR

Theme: Hardware

Country: United States

Sector: Consumer Electronics

Company Description:

Turtle Beach was founded in 1975 as Octave Electronics, a company focused on music and audio-related products, including analog music synthesizers and PC sound cards. Over time, the company leveraged its audio expertise and evolved into one of the world’s premier gaming headset brands. Turtle Beach is credited with creating the first ever console gaming headset and is the leader in the North American console headset market.

3 Company Facts:

  • Turtle Beach has been the North American market leader in gaming headsets for the last ten years, maintaining 40%+ market share.1
  • Turtle Beach’s product line includes 21 console gaming headsets and 5 PC gaming headsets.
  • In May 2019, Turtle Beach acquired Roccat, a Hamburg and Taipei-based provider of PC mice, keyboards, headsets, and software. Roccat offers a complete line of gaming mice (9), keyboards (8), and headsets (5).

3 Industry Facts:

  • In 2019, the global gaming peripheral market reached $4.1 billion in revenues, a 2.1% year-over-year increase and its highest level to date.2
  • Total Addressable Market for the console headset market was $1.4 billion in 2019, representing the largest segment of the $4.1 billion global gaming accessories market.3
  • The global gaming accesories market totaled $4.1 billion in revenues for 2019, and is expected to reach $4.9 billion by 2022.4

3 Key Company Drivers:

  • Console headset sales
  • PC gaming peripheral sales
  • Gross margins

Notable Brands:

Madden
Turtle Beach, console headsets
Apex Legends
Roccat, PC peripherals
FIFA
Dr. Disrepect, Turtle Beach partner
The Sims
Ali-A, Turtle Beach partner