Rovio Entertainment focuses on enhancing the game; strengthen the supply of resources for the game making department.
The second-biggest game Angry Birds Dream Blast saw a double-digit increase in sales. This is a proud achievement from the team, who have worked tirelessly to improve the quality of the game since its launch. Angry Birds 2 continues to do well, growing quarterly and year-over-year thanks to good live performance and solid UA performance. “For the first time since the release of the second Angry Birds Movie in 2019, we plan to introduce a new bird species in the game,” said the Lead Developer.
Angry Birds Friends is a game with a slight decrease in sales compared to the previous quarter. The game was affected by an issue with Meta that caused some players to temporarily lose access. This leads to short-term revenue disparities. After fixing the issue, the company has seen the game’s daily active users and revenue growth rate is recovering.
Rovio Entertainment grew strongly.
To support the growth of the game making teams Rovio Entertainment has opened a new studio in Barcelona, Spain. This activity will expand human resources, especially in live operations and new game design. The hiring process is ongoing and we aim to hire 15 developers over the next 12 months who will support the Puzzle studio in Espoo.
In Montreal, a group of people with long experience in the gaming industry joined Rovio. They specialize in character prototyping and market testing, and aim to produce casual games. The studio has focused on expanding Angry Birds with a massively multiplayer cross-platform game targeted for Gen Z. As of November 7, the studio will be led by Andréane Meunier, who has been around for more than a decade. century of experience at Ubisoft, Ruby Games.
With two new studios, Rovio Entertainment has a strong focus on games, seizing growth opportunities in 2023. Highlights from July to September 2022:
+ Rovio group revenue increased by 8.4% to EUR 77.4 million (71.4). On a comparative basis sales decreased by 4.6%.+ Adjusted EBITDA group decreased to EUR 15.6 million (17.2) and adjusted EBITDA margin decreased to 20.2% (24.1).+ Profit adjusted operating margin fell to EUR 12.1 million (14.3) and adjusted operating margin fell to 15.6% (20.0).+ Total game pre-orders increased by 6.2 % to EUR 70.8 million (66.7).+ Total pre-orders of Angry Birds Dream Blast, Rovio’s second-biggest game, increased 17.5% year-on-year to EUR 17.6 million. Dream Blast’s run speed increased steadily throughout the quarter and reached EUR 20 million per quarter, which is the best level since launch year 2019.+ Total pre-orders of Angry Birds 2, Rovio’s biggest game, was EUR 28.7 million and an increase of 7.8% year-on-year.+ User conversion investment was EUR 21.3 million (18.1) and 28.7% of game revenue (26, 4%.+ Cash flow from operating activities is EUR 8.6 million (16.7).+ Earnings per share is EUR 0.10 (0.16).
