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€210 million a year from a free game? Ankama’s Dofus rakes in the revenue

By on April 21, 2010
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CORRECTION: Boy, was this figure out. Further research suggests that the company’s revenue is nearer €30-40 million. You can see my revised estimate for Dofus revenues here.

* * *

Eurogamer reports from the Ankama Convention in Paris that the company has 3.5 million subscribers each paying €5 a month. That implies revenue of €210 million.

After the news that Jagex is making £38 million in revenue and £18 million in profit, who can still say that free-to-play games are not good business?

(Note: I haven’t confirmed these figures and they are about 4x the previous estimate I had seen for Ankama’s revenues. I will keep searching to get confirmation of this number.)

About Nicholas Lovell

Nicholas is the founder of Gamesbrief, a blog dedicated to the business of games. It aims to be informative, authoritative and above all helpful to developers grappling with business strategy. He is the author of a growing list of books about making money in the games industry and other digital media, including How to Publish a Game and Design Rules for Free-to-Play Games, and Penguin-published title The Curve:
  • Thanks for the great post that I really liked the site's content will already put in my favorites, where possible will be visiting the site.

  • Thanks for commenting, Paul. It's a crucial question, isn't it: can any of the successful browser-based companies successfully self-generate new IP.
    I have some concerns over the third party publishing model on the web given the need for such integration between analytics, customer service and development. Instinctively, I feel that self-publishing is better in this space, so I am watching the third-party publishing activities of Jagex, Bigpoint and GameForge with interest.

  • Nicholas, some additional thoughts on your post. Dofus is a great business/game for Ankama but the big question with it is the revenue growing? given the stats of mmodata showing only 50k more subscriptions and traffic flat at alexa and google trends then my guess is the growth for subscriptions is slow. that said Ankama's activities to extend the brand with an xbla version, cartoon series and manga is smart. the real value point for Ankama is can they make another hit game like Dofus as Wakfu has not gained serious traction yet. they may want to consider the strategy Jagex, Bigpoint and Gameforge are doing and using their platform and user base to publish third party games to scale significantly.

  • So that is about 34 million euros / year on one game, still not bad

  • cyberwiz

    The figures are correct, but people are confused about their meaning :
    They have 30 million registered players, 3,5 million active players ( paying and free alike ) and +/- 570k active paying 5€ per month subs.

    Read the bottom of this interview and it will be clear :
    More info at