Finnish entertainment media company Rovio has released its financial results for 2012 with yet another record-breaking year.
As though it had been slung from a slingshot, revenue for the creator of the smash-hit Angry Birds franchise soared 101% for the full 2012 year, amounting to €152.2 million ($178.8 million). Meanwhile, profit grew 57% to $68.2 million.
A quick look at the statistics will show just how successful these games have been. Having been downloaded in excess of 500 million times globally, over 130 million users play Rovio’s games monthly. What may be even more impressive is that the company accrues over 300 million minutes of game time daily!
After an initial public offering (IPO) in late 2011, fellow entertainment company Zynga (NASDAQ: ZNGA) soared to US $14.69 per share before falling rapidly, due to fears it relied too heavily upon Facebook (NASDAQ: FB) as a gaming platform for revenue.
Rovio, on the other hand, has largely diversified its product range. Aside from its extremely popular games and revenues from advertising, the company has also had enormous success in its merchandising products, such as children’s books, clothing and plush toys – amounting to an outstanding 45% of Rovio’s revenue last year!
Furthermore, the group also plans to release its first feature film later in the decade, in an effort to expand into new entertainment initiatives.
Whilst Rovio is not yet listed on any stock exchange, there have been indications that they are interested in a potential IPO in the future.
With the recent addition of The Croods – a game based on the current motion picture by DreamWorks Animation SKG (NASDAQ: DWA) – the company has now released nine games available for download on Apple (NASDAQ: AAPL) and Google (NASDAQ: GOOG) devices. Of these nine games however, seven have been based around the adventures of the Angry Birds – as have many of the company’s merchandise items.
To become a global entertainment powerhouse, Rovio will need to prove its stability whilst not relying solely on the Angry Birds franchise. With The Croods already becoming the #1 game for iPad in 40 countries, it is certainly on the right track.
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