Angry Birds creator Rovio's profit slashed by half

Apr 28, 2014
An image of the popular video game "Angry Birds" is displayed on a laptop on March 18, 2011, in San Anselmo, California

Rovio, the Finnish maker of the popular mobile game "Angry Birds", on Monday reported a 50 percent drop in profits in 2013 as it increased investment to face growing competition.

Net profits dropped to 26.9 million euros ($37.3 million) from 55.5 million euros in 2012, while revenue slightly increased by 2.5 percent to 156 million euros.

The company, which had revenues of 5.4-million euros in 2010, wants to expand beyond the video games business to become a global entertainment firm.

"Angry Birds" involves using slingshots to launch little birds at fortresses built by green pigs. Highly addictive, it quickly became the most successful mobile game in history, and has spawned an entire franchise of merchandise and media tie-ins.

"We're creating long lasting business, and strongly believe our entertainment strategy will consolidate Rovio's position as one of the world's most beloved brands," the company said in a statement.

In 2013 Rovio opened six amusement parks in Finland, Spain and China and entered the publishing business with more than 100 children's books in over 30 languages.

It also created a movie animation production team in the US and the first Angry Birds feature film is expected to premiere in 2016.

Sales of Angry Bird spin-off products accounted for 47 percent of Rovio's total revenue in 2013.

The company's staff grew last year by 500 people to reach 800 employees.

Rovio's new game, "Star Wars II", topped the list of paid apps on Apple's Appstore in several Western countries when it was launched in September 2013.

Explore further: Finnish start-up Supercell reports stellar game rise

add to favorites email to friend print save as pdf

Related Stories

Recommended for you

China's Xiaomi raises more than $1 bn in funding

18 hours ago

China's top smartphone seller Xiaomi Corp. is raising more than $1 billion in a fresh round of funding, a move which would raise its valuation above $45 billion, a report said Sunday.

Why the Sony hack isn't big news in Japan

Dec 20, 2014

Japan's biggest newspaper, Yomiuri Shimbun, featured a story about Sony Corp. on its website Friday. It wasn't about hacking. It was about the company's struggling tablet business.

Sony faces 4th ex-employee lawsuit over hack

Dec 20, 2014

A former director of technology for Sony Pictures Entertainment has sued the company over the data breach that resulted in the online posting of his private financial and personal information.

Sony tells AFP it still plans movie release

Dec 20, 2014

Sony Pictures boss Michael Lynton denied Friday the Hollywood studio has "caved" by canceling the release of "The Interview," and said it still hoped to release the controversial film.

2012 movie massacre hung over 'Interview' decision

Dec 19, 2014

When a group claiming credit for the hacking of Sony Pictures Entertainment threated violence against theaters showing "The Interview" earlier this week, the fate of the movie's big-screen life was all but ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.