Rovio posted $106.3 million revenue in 2011, aiming an IPO next year
It’s amazing what one huge hit can do for the fortunes of a company. Rovio, the Finnish game developer behind the Angry Birds series, has reported revenues of $106.3 million in 2011, an amazing 963% of the revenue posted in the previous year. Interestingly, Rovio says that 30% of its total revenues came from its ever-expanding consumer products line, which includes anything from clothes and toys, to candy and other merchandise.
By the end of 2011, the company has clocked 648 million total downloads across its game lineup, an impressive figure that has grew since then to reach 1 billion! Rovio announced yesterday that their Angry Birds franchise reached the staggering 1 billion landmark, propelled by the excellent performance of Angry Birds Space.
As for the monthly active users across platform, the number reached 200 million at the end of the year, still behind Zynga’s 240 million. Seeing that Angry Birds Space, the latest installment in Rovio’s bird flinging saga, was not included in the count, we expect the numbers to be significantly higher now.
Speaking to Reuters, Rovio chief executive Mikael Hed said that the company “plans to launch several more titles in 2012.” Interestingly, a non-Angry Birds title is also in the works. The future looks bright for Rovio, with Hed predicting further growth, stemming from the expanding smartphone market and Rovio’s investment in product development and branding. Aside from coming out with a full-motion animated series featuring all of your favorite temperamental fowls, Rovio has opened Angry Birds-themed theme parks in Finland. And that’s only the beginning of an empire of Angry Birds Lands to be established in the coming years.
Regarding Rovio’s plans to go public, the company’s head of investor relations, Anders Lindeberg, said that it is “preparing itself and getting ready”. An initial public offering might come next year in New York or Hong Kong. Some analysts have valued Rovio’s at up to $9 billion valuation, almost surpassing that of Nokia’s.
Not bad for a company that was only established in 2003, whose primary product is a game that lets you throw birds at pigs.