Angry Birds maker happy as stay-at-home gaming boosts profit


  • Video games
  • Friday, 14 Aug 2020

Angry Birds game characters are seen at the Rovio headquarters in Espoo, Finland. Rovio attributed the improved performance to ‘increased player engagement due to Covid-19’ as well as lower marketing costs. — Reuters

HELSINKI: Rovio Entertainment, maker of the 10-year-old Angry Birds mobile game series, on Friday reported a 160% jump in second-quarter adjusted operating profit, helped by increased player engagement amid Covid-19 lockdowns.

“We reached record high games revenue driven by the strong performance of our key games,” CEO Kati Levoranta said in a statement.

Adjusted operating profit rose to €13.8mil (RM68.35mil) from €5.3mil (RM22.24mil) while revenue fell 3.6% to €69.2mil (RM342.74mil) due to lower movie revenue, said the Finnish company, which listed its shares in 2017.

The company attributed the improved performance to “increased player engagement due to Covid-19” as well as lower marketing costs.

“The overall impact of Covid-19, which was visible in a higher level of downloads, daily active users and player engagement, peaked in late April,” Levoranta said.

In August 2019, Rovio released a sequel to its successful Angry Birds movie but its movie revenue declined in the second quarter of 2020.

However, Rovio said Angry Birds Movie 2 was among the most watched movies on Netflix during the spring. – Reuters

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Did you find this article insightful?

Yes
No

Across the site