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1.7 billion downloads and you only make 152 million euros in revenue?
Angry Birds maker Rovio today revealed some financial figures, as reported in the Guardian.
EUR152.2 million in revenue
EUR55.5m in net profit
45% of revenue from consumer products such as plush toys (EUR68.5m)
1.7 billion downloads of Angry Birds games on all platforms
Headcount of 518 people
- 263m MAUs in December 2012
- The margin of 37% is impressive, but way down from its high of nearly 90% in the early days of Angry Birds’ success. It is also a surprisingly low total revenue for the game that everyone in the traditional media world seems to want to emulate.
- The average revenue per user is surprisingly low. On a monthly basis (assuming revenue is spread evenly through the year, which it probably isn’t), Rovio is making EUR12.6m. It has 263 million active users, giving it an average revenue per user (on a monthly basis) of 5 Euro cents. If you strip out the merchandising revenue, that figure drops to 2.7 cents.
- The company is growing very fast (headcount more than doubling in 2012). That’s new investment, but they are currently milking an existing franchise over and over.
Rovio has one of the most recognisable gaming brands in the world, yet is only generating EUR 152 million in revenue. Meanwhile, dinosaur Activision has launched and built Skylanders into a billion dollar franchise in just 15 months.
I continue to think that Rovio is a very dangerous example for the rest of the industry to aspire to.