The company attributed its improved performance to the “increasing involvement of players with games due to Covid-19”, as well as lower marketing costs
The coronavirus pandemic and subsequent lockdowns greatly benefited the developer of the popular mobile games series “Angry Birds”, Rovio Entertainment, as it saw the adjusted operating profit in the second quarter of 2020 skyrocket by 160%.
In particular, the adjusted operating profit increased to 13.8 million euros from 5.3 million in the second quarter of 2019, while revenues recorded a slight decline of 3.6% to 69.2 million euros due to the decline in revenues from movies, according to the Finnish company, which made its stock market debut in 2017.
“We have recorded record revenue from games because of the strong performance of our core games,” said CEO Katie Levoranda.
The company attributed its improved performance to “increasing player engagement with games due to Covid-19, as well as lower marketing costs. The overall impact of coronavirus, which was visible in the large volume of game downloads, daily active users and player engagement, peaked at end of April,” Levorada said.
In August 2019, Rovio released the sequel of the hit movie Angry Birds, however, the film’s revenue fell in the second quarter of 2020, amid the closure of cinemas due to the coronavirus pandemic. However, the company said that “Angry Birds Movie 2” was one of the most popular movies of the spring on Netflix.