For a while there, it seemed like Rovio, the company behind the likes of Angry Birds, was in a financial tailspin. In 2015, they had to undergo a round of layoffs, and they went free-to-play in 2016. Following that, they sold off their TV animation studio as part of their “ongoing reorganization.”
All of that shuffling and weight shedding has finally positioned Rovio in a strong stance. They’ve nearly doubled their revenue from 2016 with a 94-percent increase year-on-year.
Their games division saw its revenue jump by 64-percent, too. This comes from the company’s released financial results for the second quarter of 2017.
The results included comments from CEO Kati Levoranta.
“The second quarter of 2017 evidenced true delivery of our games-first strategy with very strong growth in revenues and profits…
During the second quarter, we also finalized Rovio’s restructuring and moved towards a licensing model of lower operating and capital expenses in the consumer products and animated content businesses.
The benefits of these structural changes, however, have not yet been reflected in the strong financial performance we achieved in the first half of 2017.”
Rovio is apparently aiming to produce a sequel to the Angry Birds Movie, and they’ll continue their “games-first strategy” into the future.
Expect further growth.