Angry Birds Movie Sequel on the Way After First Makes $347 Million

"We have started planning the sequel to The Angry Birds Movie."

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Now Playing: GS News Update: Angry Birds Movie Sequel on the Way

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This year's Angry Birds movie might not have won over critics, but it made $347 million worldwide. So it may come as little surprise that Rovio has now announced it's beginning work on a sequel.

As part of an earnings report this week, Rovio CEO Kati Levoranta said, "We have stated planning the sequel to The Angry Birds Movie." No further details were provided.

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The first movie, which featured the voices of funny people like Jason Sudeikis and Josh Gad, came out in May and was made by Sony Pictures Animation. The Simpsons writer Jon Vitti was among the scribes for the film, which was directed by animation veterans Fergal Reilly (The Iron Giant, Cloudy With a Chance of Meatballs) and Clay Kaytis (Wreck-It Ralph, Frozen).

The Angry Birds Movie still has one more major region where it hasn't opened. The film comes to Japan on October 1, so it's $347 million box office figure stands to grow even higher. It's also available to purchase and rent on Blu-ray/DVD and digitally, which is another revenue source.

According to Box Office Mojo, The Angry Birds Movie had a production budget of $73 million, though this does not factor in what were likely significant marketing costs.

In terms of Rovio's overall financial performance, the company said it made $86.2 million in revenue for the first half of the year, which is up $11.6 million from the same period last year. Rovio noted that it was going to achieve strong results even without revenue from The Angry Birds Movie factored in.

Rovio's game business is "thriving," the company said, with year-on-year revenue growth of 24 percent. Levoranta teased that Rovio now has "several exciting new games and other projects in development, including new IP," in addition to the Angry Birds movie sequel.

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