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Rovio employing a growing percentage of Finland


Out of the variety of numbers included in this morning's Rovio 2011 financial report, one line stuck out to us as particularly insane: the employee count. Rovio wasn't a very large company before Angry Birds exploded in late 2009, having only produced a couple dozen under-the-radar mobile titles. But by 2011, the need for expansion was clearly there.

Resultantly, employee numbers similarly exploded – from just 28 employees in early 2011 to a whopping 224 at year's end. In case that isn't a dramatic enough statement unto itself, Valve Software employs 293 people, and Valve has quite a few more things to manage. Our biggest fear – a fear that many Rovio employees likely echo – is that the massive upscaling of jobs will result in a massive downscaling should the Angry Birds franchise lose its foothold as king of mobile distractions. Not exactly a new business model in the game industry, unfortunately.

For now at least, Rovio's employing a ton of Finnish devs to craft its bird flingers and related products. Someone's gotta think of these clever marketing vices, you know!

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Rovio Entertainment reports 2011 financial results
Solid performance across all business areas
Helsinki, Finland – Rovio Entertainment Ltd, the world's leading provider of mobile entertainment and creator of the Angry Birds franchise, today had the pleasure of announcing the financial results for the full calendar year of 2011.
Total revenue amounted to €75.4 million ($106,3 million) driven by strong growth in game download activity and consumer product sales. Earnings before tax were €48,0 million ($67.6 million) or 64% of total revenue in 2011.
"The strong growth in revenue clearly demonstrates the popularity of the Angry Birds brand." Mikael Hed, Rovio CEO said. "The heavy investments made in 2011 to all business areas will be seen in future products. To ensure continuous success we need to be creative and stay focused on entertaining our millions of fans by continuously developing new and innovative products and services."
The Angry Birds franchise fuels Rovio's performance
The financial outcome of 2011 is very positive for Rovio. Rovio's different business areas, Games, Advertising, and Consumer Products, are fully rolled out and generated both revenue and profit.
The Consumer Products business area, which includes both Merchandising and Licensing income, generated revenues that represent a about 30% of total revenue in 2011. The company was working together with more than 200 licensing partners on developing new products and services within the Angry Birds franchise.
Rovio's game offerings in 2011 consisted of three games, all based on the Angry Birds characters: Angry Birds, Angry Birds Seasons, and Angry Birds Rio. The games are available as both free and paid versions on all popular mobile and connected devices. The total number of game downloads reached 648 million by the end of year 2011 and the total number of active monthly users, across all platforms, reached 200 million.
The number of employees grew from 28 to 224 during the year 2011.
Market and business development expectations
Future sales will to a large extent depend on the launch schedules and success of new games and initiatives in 2012. As sales of new devices remain the main driver for mobile game downloads, Rovio expects business to continue to grow accordingly.
"We are very optimistic about 2012 due to significant investments in product development, cutting-edge branding, brand protection and corporate infrastructure," Mikael Hed said.
- Currency exchange rates EUR/USD is based on 2011 median of 1,41.
- Rovio Entertainment Oy´s financial figures have been prepared in accordance with Finnish Accounting Standards (FAS).

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