Rovio Games’ profits reduced by a whopping 52 percent last year. Details after the jump.
In a press release received by Mashable, Rovio Entertainment Ltd. has announced their earnings for the year 2013. The company reported profits reduced by 52 percent – $37 million vs. $77 million in 2012 – while revenue remained essentially flat at $216 million for last year, compared to $211 million in 2012.
There are two big reasons for this: the first, based on Rovio‘s CFO Herkko Soininen opinion, is that the company is investing heavily into making Angry Birds a full-fledged international brand, rather than just a casual game you play on your mobile device. They are investing millions into projects such as ‘Rovio Stars‘ for publishing innovative indie games, producing animated theatricals, and hiring more and more people so they can, of course, produce bigger, and better Angry Birds’ related products. Soininen calls 2013 a ‘foundation-building year’.
The second possible reason, which we believe in, is that the Angry Birds’ train is running out of steam. The games’ formula of launching birds at pigs while avoiding cleverly-placed obstacles is getting, well, a bit too formulaic. Rovio needs to venture out into other game genres if they want to carry on the explosive momentum that they are known for in game development circles.