'Angry Birds' Publisher Rovio Doubles Yearly Revenue to $195 Million
Profit at the Finnish company was up 57 percent in 2012, with nearly half of revenues coming from merchandising rather than video games.
Rovio, the Finnish company behind the video game phenomenon Angry Birds, saw revenues double last year to $195 million (€152 million) and net profits soar 57 percent to $71 million (€55.5 million).
Angry Birds games attracted some 263 million active players in December, Rovio said, announcing its financial results for last year. Rovio made 45 percent of its revenues from its consumer products division, selling merchandise such as plush toys and Angry Birds accessories, with revenues more than tripling last year to $87.8 million (€68.5 million).
Rovio is hoping its recent move into television -- the group launched an Angry Birds cartoon last month -- and the upcoming Angry Birds movie, planned for 2016, will boost both gaming and merchandising revenue. John Cohen, producer of Despicable Me has signed on to produce the 3D computer-generated feature film with ex-Marvel Studios chairman David Maisel as executive producer of the project.
The group is also expanding its stable of branded games, recently launching a free-to-play online game based on the DreamWorks Animation movie The Croods.