Angry Birds movie lifts Finnish Rovio

AFP, HELSINKI: Finnish games company Rovio soared back to profit in 2016, lifted by its venture into the film industry and the release of The Angry Birds Movie, the company said.
The spin-off film from the company's popular Angry Birds mobile game series resulted in their multi-coloured birds and green pigs resurfacing with earnings before interest and taxes of 17.5 million euros ($18.4 million) in 2016, the company said in a statement published late Tuesday.
A year earlier, it posted a 21.1-million euro loss.
Rovio's gross revenue grew by 34 per cent to 190.3 million euros in 2016, as the company's games regained popularity after the film release in May 2016.
The Angry Birds game, in which players use catapults to fire birds onto pigs who have stolen their eggs, was a worldwide smash hit after its release in 2009.
But it started losing its appeal in 2013.
Rovio's earnings then dropped for three consecutive years, falling into the red in 2015 and prompting the company to cut a third of its workforce the same year.
In an adventurous bid to save its flock, Rovio embarked on its first 3D feature film, partnering up with Japanese electronics giant Sony Entertainment for its distribution.

Angry Birds movie lifts Finnish Rovio

AFP, HELSINKI: Finnish games company Rovio soared back to profit in 2016, lifted by its venture into the film industry and the release of The Angry Birds Movie, the company said. The spin-off film from the companys popular Angry Birds mobile game series resulted in their multi-coloured birds and green pigs resurfacing with earnings before interest and taxes of 17.5 million euros ($18.4 million) in 2016, the company said in a statement published late Tuesday. A year earlier, it posted a 21.1-million euro loss. Rovios gross revenue grew by 34 per cent to 190.3 million euros in 2016, as the companys games regained popularity after the film release in May 2016. The Angry Birds game, in which players use catapults to fire birds onto pigs who have stolen their eggs, was a worldwide smash hit after its release in 2009. But it started losing its appeal in 2013. Rovios earnings then dropped for three consecutive years, falling into the red in 2015 and prompting the company to cut a third of its workforce the same year. In an adventurous bid to save its flock, Rovio embarked on its first 3D feature film, partnering up with Japanese electronics giant Sony Entertainment for its distribution.