According to Helsingin Sanomat (Largest Finnish daily), Rovio, the makers of Angry Birds mobile game, have pocketed approximately 14 million euro ($20 million US) in revenue during the first quarter of 2011. Two thirds of the revenues come from app sales and about a third from advertising. Overall, Mikael Hed, Rovio CEO, stated that the game has been downloaded more than 120 million times.
Mikael Hed also stated in the article that they’ve already sold more than 3 million pieces of Angry Birds fluffy toys. He also confirms that a lot of pirated merchandise has appeared on the markets.
Regarding the possible IPO of Rovio, he didn’t disclose anything new at this time. He still confirmed that they’re looking for possibilities to take the company public and they’ve already began to file their financials in a quarterly fashion. Hed stated what we for example have been writing previously, that the IPO is possible, but far from certain.
It is worth stating that while Rovio is all about the success of Angry Birds during the past year or so, there’s another strong contender to the scale of its success from the Nordics. Even though they don’t compete on the same platform (originally), Minecraft has been showing its business potential in the recent months. Just a few days ago we forecasted, based on Minecraft’s public data, that they’re making about 5 million euros a month – based on March figures.