Roblox’s “you got to spend money to make money” tactic is clearly working despite almost $1 billion in revenue loss throughout 2022.
The game developer shared its success in a blog post on Feb. 15, 2023, labeling it a “strong year-over-year growth in Daily Active Users, Hours Engaged, and Bookings.”
The blog post shared that revenue increased by 16 percent year-on-year for the Roblox developers with $2.2 billion across the entire period. Its net loss amounted to $934 million dollars, which was almost twice as much as the year prior.
Some of the determining factors for its losses were attributed to supporting the further expansion of aspects within business operations. Despite almost doubling, the company shared that the losses throughout 2022 we actually statistically similar to 2021.
David Baszucki, the founder and CEO said, “2022 was a year of innovation and invention for Roblox.”
He added, “with 65 million daily active users in January, we are driving towards our vision to reimagine the way people come together by enabling deeper forms of expression, communication, and immersion.”
Not only was revenue on the rise, but the amount of time spent playing skyrocketed alongside it. There were 5 billion hours engaged on the title, with that number being a 19 percent increase on 2021’s numbers.
Once this expansion ceases, it looks like the money will keep rolling in for the Minecraft competitor. We’ll just have to wait and see for next year’s numbers.
Published: Feb 16, 2023 02:22 am