Rovio reports net profit dropped 52% in 2013
Rovio is best known for building the “Angry Birds” franchise. Rovio’s net profit dropped 52% in 2013 and revenues remained flat. This is bad news because this may mean that Angry Birds’ best days are behind them.
The net profit for the year 2013 was $37.3 million compared to $77 million in 2012. Revenues were $216.3 million, which is up slightly from $211 million in 2012. Rovio increased head count from 500 to 800.
Rovio CFO Herkko Soininen said that 2013 was a “foundation-building year” though. He said Rovio invested in new business areas like animation and video distribution. The company also launched new business models for its games. “With these investments we have been gearing up for the future growing markets,” stated Soininen.
Rovio is planning to release an Angry Birds animated movie in July 2016. Rovio’s ToonsTV logged 2 billion views and has around 42 Angry Birds Toons episodes. Angry Birds was downloaded over 2 billion times since the game launched.