Angry birds creator gains fall by over 50%
Finland's Rovio Entertainment, the maker of the Angry Birds game, said its operating profit halved last year due to investments in its animation business.
Rovio said its revenue was roughly flat last year at 156 million euros while operating profit fell to 36.5 million euros from 76.8 million in 2012.
After a global breakthrough of its smartphone game in which players use a slingshot to attack pigs who steal the birds' eggs, Rovio has expanded the Angry Birds brand into an animated TV series and merchandising of toys and clothing.
Herkko Soininen, Rovio’s chief financial officer, said: “After three years of very strong growth, 2013 was a foundation-building year. We invested in new business areas, such as animation and video distribution, ventured into new business models in games and consolidated our strong market position in consumer products licensing.”
Last year, Rovio also opened six amusement parks in Finland, Spain and China and entered the publishing industry with children's books published "in 30 languages in over 40 countries," according to the company.