In the last ten years, Rovio Entertainment has kept up-to-date with the Angry Bird series of video games. Angry Birds was also adapted to an animated movie with two interesting sequels. Due to good management and a favourable market season, the Finnish company has experienced a constant flow of revenue as they recently attained more profit of approximately 138% growth during the third-quarter of 2020.
Angry Bird started in 2009 as a fantasy-based puzzle video game with different colors of temperamental birds as its character, always on a mission to defeat the Piggy villain aiming to save their eggs. Initially, the edition to the video game was a limited for the iOS platform. As it became trendier, the versions were regularly updated as in series, such as Angry Bird Go, Angry Bird Star Wars, Angry Bird Friends, Angry Bird Rio and so much more. The video game realized recognition because it was specifically designed with the permutation of fun play, comical effects, and the price tag is also affordable.
After a while, it was developed into a PC and a video console edition. it was later adopted into an animated movie with two films; the Angry Bird Movie, and in 2014 Angry Bird Movie 2 was televised as its sequel.
Three years ago, when the video game company was still struggling to standardizing its low brand licensing, the company reported to have suffered a loss in revenue with the operating profits from 9.2% to 67.9 million euros. However, in 2017, Rovio’s profit was at 5.4 million euro but that has grown to attain times two of its previous profits which worth 12.8 million euro equal to $15.1 million.
In the previous year, the Rovio arrived at 6.3% profit margin which means progress despite the challenges they encountered. Like many other online ventures, the pandemic may have played a part in this revenue and profit jump for gaming companies.
Due to appropriate resource management and a favorable market period, the Finnish company is expected to attain times two of its previous achievements as Angry Birds management team has already modified its operating profit margin that made sure of making the revenue group not being more than the company’s credits. Although the previous group revenue was worth 289.1 million euros.
The CEO of Rovio Entertainment Rovio said: “In Q3 2020, our games revenue declined slightly quarter on quarter after the revenue and the player engagement normalized from the peak during the global shelter-at-home in Q2.”
Few weeks ago, Kati Levotanta the CEO of Rovio Entertainment said she will be leaving the company by the end of 2020 and is yet to decide where she will go next, but her successor is yet to be announced. She joined the company at the early days of 2016, and has achieved quite a lot; Rovio entertainment is worth more than a billion dollars today. Kati made this happen after she successfully accomplished Rovio’s Initial Public Offering.
As the CEO of the video game developer, she made sure she helped the company adjust its financial books in the second quarter of 2020 before her departure. Although her plans to leave the company was based on the mutual contract between Rovio and herself.