Rovio H1 2022 report: Good results in a market facing headwinds in Q2

The Angry Birds franchise was – as ever – a particularly strong performer

Rovio H1 2022 report: Good results in a market facing headwinds in Q2

Rovio has published its financial report for the first half of 2022, showing a revenue increase of 20.2 per cent year-on-year to $168.3 million dollars.

Gross bookings increased by 17.2 per cent to $157.8 million, compared to $135 million for the same period in 2021, while the user acquisition budget stood at $53.6 million – an increase from $39.6 million for H1 the previous year.

The company saw particularly strong results in Q2, despite the challenging market environment. Compared to Q2 2021, the company’s revenue increased 14% to $80.8 million. Gross games bookings were up 8.8 per cent to $74.6 million, while user acquisition investments were $21.5 million – a slight decrease from the previous year, where investments were $21.9 million.

The Angry Birds franchise was singled out as a particularly strong performer in the group’s portfolio. Angry Birds 2 continued to be the company’s biggest hit, with gross bookings of $29.2 million in Q2, an increase of 6.9 per cent year on year. Angry Birds Friends also grew 10 per cent year-on-year in Q2, reaching $9.3 million.

Angry Birds Journey, which was released in January, generated $7.5 million in gross bookings during the period.

A challenging environment

“I am proud to report that we executed well in a challenging environment in the second quarter,” said Rovio CEO Alex Pelletier-Normand.

“We clearly outperformed the market and I would like to thank all Rovians for their dedication and efforts during this period. In Q2 our reported revenue saw healthy growth thanks to the release of Angry Birds Journey, the consolidation of Ruby Games and a favorable fx. Our comparable revenue was virtually flat year-on-year, while our profit clearly grew.”

Looking forward, Moomin: Puzzle & Design concluded a successful market test in Japan, with new content being added in preparation for the next stage of the game’s soft launch. The company expects “strong topline growth” for the year.

Last year, Rovio reached number 31 on our list of the top 50 mobile game makers. We’ll be publishing our list of this year’s top 50 later this year.

Staff Writer

Lewis Rees is a journalist, author, and escape room enthusiast based in South Wales. He got his degree in Film and Video from the University of Glamorgan. He's been a gamer all his life.