Rovio announced the development of 12 new games

The creators of Angry Birds decided to change the strategy of releasing games. Rovio announced that it has 12 titles in the works at once.

After a serious drop in revenue and profit in the last quarter, Rovio, according to the report for the 3rd quarter, managed to come out in plus. And the company immediately announced that it needed new profitable hits for further development. In this regard, Rovio CEO Kati Levoranta announced that the company plans to release two new games out of 12 created next year. It is also known that two games related to the Angry Birds franchise are currently in softlonch.

Levoranta also noted that another game will be launched on the Chinese market as soon as it receives permission from Chinese regulators.

It is important for us to constantly improve the games we have released so that they continue to generate revenue, but we also need new games to accelerate our development.

Katya Levoranta

CEO Rovio

Speaking about the released games, Levoranta added that revenue from Angry Birds 2 is growing for the third quarter in a row. In annual terms, this growth was 68%.

Rovio Quarterly Results

• Revenues increased by 0.5% ($80.4 million);
• EBITDA increased by 146.2% ($17 million);
• operating profit increased by 566.8% ($11.7 million);
• user purchase expenses decreased by 19.8% ($22.2 million);
• cash flow fell by 38.5% ($12.6 million).

In particular, the company explains the strong growth in operating profit by the fact that in this quarter it was not as much focused on acquiring users as before.

Also on the topic:

• Rovio has problems: the company reported a 57.5 drop in profit%
• Rovio’s 70% profit growth has not regained market confidence
• Rovio top managers will have their salaries cut by 25%

Source: Rovio