Rovio has issued a financial report for the first quarter of 2022. Despite the overall decline in the mobile free-to-play market, the company behind Angry Birds managed to achieve record gaming revenue.
Key takeaways
- In Q1 2022 (ending March 31), the company’s revenue was €85 million, which is up 26.6% year-over-year.
- Games gross bookings were €80.8 million, which is up 25.8% year-over-year.
- However, Rovio’s operating profit declined by 21.5% to €7.5 million.
- Ruby Gems, which the company acquired last September, reached €6.1 million in gross bookings.
- Angry Birds 2 remained the company’s biggest game, reaching €30.3 million in gross bookings (up 20.1% year-over-year).
- It is followed by Angry Birds Friends, with total gross bookings of €9.3 million (up 15.2% year-over-year). It also showed the highest quarterly growth since the fourth quarter of 2016.
- Rovio’s latest title Angry Birds Journey, launched on January 20, generated €10.1 million.
“As we look at the rest of the year ahead, we expect the market to continue to go through challenging changes resulting from the normalization of spending habits post-covid and the significant impact of Apple’s ATT (app tracking transparency) on the marketing landscape,” Rovio CEO Alex Pelletier-Normand said. “We are focused on executing our strategy, which we believe is adapted to those changes, and we are seeking further opportunities to grow.”
- The company spent €31.1 million on user acquisition, which accounts for 37.8% of its total games revenue.
- The number of monthly active users (MAU) across Rovio’s portfolio reached 53.3 million (up 120% year-over-year), with the number of daily active users (DAU) reaching 7.3 million (up 73.8% year-over-year).
The full report for the first quarter of 2022 can be found here.