73 per cent profit drop for creators of Angry Birds
By Annie Lee
Rovio, the Finnish mobile games company responsible for Angry Birds, reported a 73 per cent drop in their 2014 profits, according to their financial results posted on their website.
Despite an increase in profit from mobile games from €95.2 million to €110.7 million, they saw a drop in nearly every other category: a sales drop of 9% in operating profits and a revenue drop in consumer products, from €73.1 million to €41.4 million. However, CEO Pekka Rentala remains positive about the company’s future for 2015.
“2014 results show that steps in the game portfolio, free to play competency building and advertising are going in the right direction,” Rentala wrote on the website. “I am confident that with new simplified organisation and clearer vision, we will be back to the path of growth in 2015.”
Unhappy with the consumer product revenue, Rentala is optimistic what the upcoming feature film based on Angry Birds will do for the company.
“[T]he upcoming Angry Birds Feature Film is getting very positive reactions from major retail and license partners as well as from consumer focus groups. This will have a positive impact on licensing in the coming years. In the next few months, we expect major announcements of partnerships in the licensing space.”
The high budget feature film is set for release in May 2016. Josh Grad, who shot to fame with Frozen and Peter Dinklage, well known for his work on Game of Thrones, is part of the all-star cast. The film will be distributed by Columbia Pictures of Sony Entertainment.
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