Rovio Posts Strong Q2 Growth

The company’s brand licensing division also posted an increase of 242.6 percent to €24.9 million.

EUROPE–Rovio Entertainment revenues for Q2 2017 have increased 94 percent to €86.2 million, compared to €44.5 billion for the same period last year, due to the strong performance of its games as well as the revenue from The Angry Birds Movie.

Furthermore, the revenue of Rovio’s brand licensing business unit increased by 242.6 percent to €24.9 million, compared to €7.3 million in the year prior, which was driven by revenues from The Angry Birds Movie.

Meanwhile, revenues for the company’s games business unit increased 65 percent to €61.3 million, which was attributed to a 30 percent increase in the number of monthly paying users as well as a 51 percent increase in revenue per monthly paying using.

During the second quarter, Rovio also launched two new games–“Battle Bay” and “Angry Birds Evolution.”

Additionally, Rovio’s revenue increased 94.3 percent year-on-year for the first half of 2017 and totaled €152.6 million, compared to €78.5 million in the year prior. The revenue of the games business unit also increased by 76.3 percent to €117.9 million and revenue for the brand licensing business unit increased by 197.8 percent to €34.6 million in the first half of 2017.

Rovio’s recent gains also reflect its strategy to shift from in-house management of its licensing to an agency model, allowing the company to focus on its core competencies of game and content development. Read more about Rovio’s growth plan here.

“The second quarter of 2017 evidenced true delivery of our games-first strategy with very strong growth in revenues and profits,” says Kati Levoranta, chief executive officer, Rovio. “During the second quarter, we also finalized Rovio’s restructuring and moved towards a licensing model of lower operating and capital expenses in the consumer products and animated content businesses. The benefits of these structural changes, however, have not yet been reflected in the strong financial performance we achieved in the first half of 2017.”

AddThis