Angry Birds studio sales double in 2012

Rovio full-year revenue grows 101 percent to €152.2 million, head count doubles.


The Angry Birds sensation is not fading away.

Developer Rovio Entertainment today announced financial results for 2012, revealing revenue grew 101 percent to €152.2 million ($195.1 million) up from €75.6 million ($96.8 million) last year.

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Earnings before interest and taxes hit €76.8 million ($98.4 million), up 64 percent year-over-year, while net profit was €55.5 million ($71.1 million) compared to €35.4 million ($45.4 million) last year.

"Rovio has grown from a phenomenon to a very successful global business," Rovio CEO Mikael Hed said in a statement. "In 2010 we set out to build an entertainment company and after last year's performance we are on a strong path to achieve our goal."

Rovio's rosy 2012 benefited from the release of major mobile games like Angry Birds Space, Amazing Alex, Bad Piggies, and Angry Birds Star Wars. In May 2012, the Angry Birds franchise crossed 1 billion downloads and monthly active users across all platforms hit 263 million in December.

Rovio sales were not the only component of the company's business that doubled in 2012. The Espoo, Finland-based studio also saw its head count rise to 518 people, up from 224 in 2011.

Looking ahead, Rovio said it expects its business to continue to grow, noting future success will depend on the success of new game launches, the company's ability to keep fans engaged with its titles, and the prosperity of "new initiatives" in 2013.

The total number of Rovio game downloads has exceeded 1.7 billion, Rovio said.

Rovio recently launched its Angry Birds Toons television series, while an Angry Birds feature film from Iron Man and Despicable Me producers will launch in 2016.

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