Rovio revenues soar past $100 million as Battle Bay and Angry Birds Evolution score strong launches

Rovio revenues soar past $100 million as Battle Bay and Angry Birds Evolution score strong launches

Rovio has released its financials for its Q2 FY17 for the three months ending June 30th 2017.

It posted revenues of $101.3 million for the quarter, up 94% year-on-year. Company profits also grew an impressive 269% to $37.1 million.

Breaking this down further, its Games unit saw revenues of $72 million for the quarter, up 65% year-on-year. Profits for the Games unit grew 30.6% to $15.9 million.

Games revenues were boosted due to a 30% increase in monthly paying users, as well as a 51% increase in revenue per monthly paying user. Overall revenues were boosted by the continued success of The Angry Birds Movie, which is scheduled to receive a sequel in 2019.

Flying ahead

"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," said Rovio CEO Kati Levoranta.

"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.

"Our current top games continued to improve their key KPIs, enabling us to invest in growth and new games with high confidence. Rovio’s latest games, Battle Bay and Angry Birds Evolution, were launched in Q2 with the strongest launch ARPDAU and other KPIs ever seen in Rovio Games business unit."

Rovio's fortunes have been improving in the last year, thanks to "a relentless focus on day to day operations" according to its Executive VP of Games Wilhelm Taht. There are currently rumours circulating suggesting that the developer may look to IPO and raise around $400 million later in the year.

Deputy Editor

Ric has written for for as long as he can remember, and is now Deputy Editor. He likes trains.


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