American mobile gaming company Scopely just hit US$1 billion in lifetime revenue, and that should excite investors of homegrown mobile gamer Animoca Brands (ASX:AB1).
Scopely makes big brand tie-in games including The Walking Dead, WWE, Wheel of Fortune and Star Trek, and it boosted its 2018 revenue by 80 per cent, according to Forbes.
That is good news for mobile game developers around the world, as it shows the industry is growing rather than contracting, as consumers eschew traditional gaming consoles and methods for high-quality games they can play on their mobiles.
Australian-listed Animoca Brands has a broad range of mobile games, from blockchain-based games like CryptoKitties to products based on Garfield, Snoopy and Thomas & Friends to engineering tie-ups with big brands, in the case of its F1 Delta Time game.
Similar to Scopely, Animoca also had a terrific 2018 financial year, posting best ever figures.
It took in revenue of $17.5 million, more than double the year prior. It became operationally cash flow positive for the first time in its history and also greatly reduced its full-year loss, down from $8m to $2.5m.
“The financial year 2018 was a transformational year for us,” the company said in a statement.
“Following a year of divestment, in 2018 the company focused on growth and expansion as it secured success in its core business of mobile games, generating significant revenues and being named one of the world’s “Top 50 Developers” of 2018 by PocketGamer.”
This content is produced by Star Investing in commercial partnership with Animoca Brands. This content does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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