Angry Birds’ comeback is real. Yes, the company just announced its financial report for Q2 2018. Angry Birds 2 shows positive signs in terms of financial aspects.
One of the most popular games since the early release of touchscreen smartphones, Angry Birds is slowly back making an impact in the market. After recent reports claim the company is in jeopardy, looks like Angry Birds comeback will be real.
Rovio, which was valued at US$1.1 billion in terms of initial public offering (IPO) per October last year is now valued below US$500 million as of March 2018. The reports claim that the value was decreased because of future profits predicted by Rovio.
Since launching in 2016, Mobile Legends has generated US$200 million in total revenue. Malaysia and Indonesia are the top 2 countries with the most players.
But now, Angry Birds 2 saw gross bookings grow 44%, bringing in US$33.9m in Q2 2018. Rovio’s total revenue for Q2 is US$81.9m, a decrease of US$10.2m. This is due to last year’s revenue peak alongside the Angry Birds Movie.
In terms of daily activities, the Finnish company claims that daily activities increases from 8.7m last quarter to 8.8m. Lastly, operating profits sadly fell 62.7% year on year to US$6.8m.
Rovio CEO Kati Levoranta told Pocketgamer.biz:
“Angry Birds 2 made again a new record quarter of EUR 29.7 million in gross bookings which are 38% better than the previous record quarter earlier this year.” Despite the decrease in the overall hype of the game, Levoranta is still optimistic.
He went on by adding “Due to smaller movie income, Rovio group revenue was 9.9% smaller in the first half of 2018 that in the corresponding period of 2017. Growing user acquisition investments and smaller movie revenue resulted in a smaller but still healthy operating profit.”
Although Angry Birds 2 is not as hype as Angry Birds, there are still high hopes for Rovio. It’s interesting to see the development of the company and also the Angry Birds franchise. Stay tune only at Gameprime.org.