Flat quarter for Rovio

Minor dips and lifts in like-for-likes – but big updraft in licensing division expected with forthcoming launch of The Angry Birds Movie 2 this month

Written by Rhys Thomas

Posted 08.08.2019 | Entertainment

Flat quarter for Rovio thumbnail

A largely flat three months for Rovio saw the company’s total revenues coast to EUR 71.8m in Q2, with no marked change over the same period in 2018, the company revealed in today’s financial report.

The maker of Angry Birds took a small, two per cent year-on-year dip in its brand licensing revenue, but it expects this to pick up significantly throughout the back half of the year thanks to an updraft created by the upcoming launch of The Angry Birds Movie 2.

“The brand licensing unit’s revenue in the second quarter was EUR 6.4 million and thus at the same level as last year (6.5m),” says Kati Levoranta, Rovio’s CEO. “We expect the Angry Birds Movie sequel and surrounding marketing to boost our licensing business as well as drive users to our Angry Birds games during the second half of 2019. The movie sequel is rolling out globally in August, with the two largest markets of USA and China scheduled for launch on 14 and 16 August, respectively.”

Rovio's latest mobile game showed promising growth with EUR 14m worth of earnings in the quarter

Elsewhere the business performed solidly, with incremental growth of 0.2 per cent in its mobile gaming business, including a promising launch for its most recent game, Angry Birds Dream Blast. The new release continued to grow in the quarter to EUR 14m in bookings, making it the second largest game of the quarter. Rovio’s biggest game Angry Birds 2 pulled in EUR 26.5m, down from the EUR 29.7m in Q2 2018. The company pointed to lower investment in new player acquisition.

Group adjusted operating profit was EUR 5.3 million.

“With the launch of the Angry Birds Movie sequel and with several promising games in development,” Kati adds, “we are thrilled to enter the second half of 2019.”


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