Rovio Entertainment Ltd, the Finnish company behind the “Angry Birds” gaming franchise and animations, today announced revenue figures for the first half of 2016 and said it was planning a sequel to its animated “Angry Birds” movie released earlier this year.
We currently have several exciting new games and other projects in development, including new IP, and we have started planning the sequel to The Angry Birds Movie – Rovi CEO Kati Levoranta.
The company reported on Wednesday its adjusted operating profit in the first six months of the year was 5.7 million euros, up about 16 million euros from the same period a year earlier due to growing game sales. These figures don’t include profits from the movie, Angry Birds earned more than $347 million at the box office after its release in May.
Although the company is planning a sequel to the movie, a spokesperson cautioned that Rovio is in the earliest stages of planning for that sequel. The Angry Birds movie released in May has given the company had positive reviews and gave the company new momentum, this is an impressive turn around for the company, earlier on, Rovio had posted three consecutive years of revenue decreases and layoffs.
“With the excellent performance of our games portfolio and the fantastic movie, the Angry Birds brand is flying high and we are seeing positive EBIT and cash flow development, while fulfilling our mission to create world-class entertainment – Rovi CEO Kati Levoranta.
The success of the movie should boost Rovio’s licensing business in the short-term and give it some breathing room to continue develop new games.
I so love the Angry Birds movie! you can imagine the huge smile I had on my face on the planned sequel.
Rovio Entertainment Ltd, is a Finnish developer, publisher, distributor of video games and is an entertainment company headquartered in Espoo, Finland. The company was founded in 2003 as a mobile game development studio named Relude, and was renamed to Rovio Mobile (Finnish for pyre) in 2005. The company is best known for creating the Angry Birds franchise.
In 2003, three students from Helsinki University of Technology (currently Aalto University School of Science), Niklas Hed, Jarno Väkeväinen and Kim Dikert, participated in a mobile game development competition at the Assembly demo party sponsored by Nokia and HP. A victory with a multiplayer game called King of the Cabbage World led the trio, along with Niklas Hed’s cousin Mikael Hed, to set up their own company, Relude. King of the Cabbage World was sold to Sumea (now known as Sumea Studios as part of Digital Chocolate), and renamed to Mole War, which became one of the first commercial real-time multiplayer mobile games. In January 2005, Relude received its first round of investment from a business angel, and the company changed its name to Rovio Mobile.
In December 2009, Rovio released Angry Birds, its 52nd game, a puzzle game where a bird is flung using a slingshot for the iPhone; it reached No. 1 spot in the Apple App Store paid apps chart after six months, and remained charted for months after.