Rovio Entertainment eyes Angry Birds sequel after profits zoom

Rovio Entertainment eyes Angry Birds sequel after profits zoom

Rovio, the Finnish firm that makes the popular Angry Birds games, is reportedly planning to go public soon.

While the move could be a short-term benefit for Rovio's bottom line - Bloomberg notes that a potential listing could bring in around $400 million - it's widely expected to come with substantial risks. Though, it seems that a final decision has yet to be made, meaning Rovio may decide to stay private for longer.

Past offerings from mobile game publishers have often launched with high expectations followed by quick stumbles. A Rovio spokesperson declined to comment on the rumours to Helsingin Sanomat on Monday.

Netmarble Games, the maker of the Lineage and Stone Age mobile games, was South Korea's biggest listing in seven years.

Rovio's recognisable angry birds could be about to test their wings on the stock market, according to Bloomberg.

As for brand licensing, revenue from The Angry Birds Movie and the announcement of a sequel helped drive the division's sales up by 242.6% to US$29 million, compared to US$9 million in Q2 a year ago.

The company is now planning a sequel to the Angry Birds movie with Columbia Pictures, scheduled for release in 2019.

Strong performances from its games business and The Angry Birds Movie helped drive Finland-based Rovio Entertainment's Q2 revenues up by 94% to US$101 million. The strong results were mainly driven by the success of the movie named 'The Angry Birds Movie'. He holds about 69 per cent of Rovio after investing 1 million euros ($1.5 million) more than a decade ago into the company co-founded by his nephew Niklas Hed.