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Yesterday, Roblox made good on its plans to go public, with employees and previous investors selling hundreds of millions of shares in a direct listing on the New York Stock Exchange. In a private funding round in January, those shares were worth $45. When the market closed Wednesday, they were selling at $69.50, a price that valued Roblox Corp. as a whole at $45.3 billion (as of this writing, Roblox Corp.’s stock price peaked at $77.30 and currently sits at $72.72 in Thursday morning trading).
How did this company, whose single title has become a game platform unto itself, become worth more than major game publishers like Electronic Arts and Take-Two? To help answer that question, we put together this deep dive into the numbers that are powering the Roblox revolution. They paint a picture of a company with an extremely young and incredibly engaged user base that has ballooned during the 2020 pandemic lockdowns. But Roblox is also a company that is struggling to convert its huge and growing annual revenues into profitability.
(Unless otherwise noted, numbers are sourced from SEC documents or Roblox’s own website)
Valuations
Roblox
- Jan. 2017: $500 million
- July 2018: $2.3 billion
- Feb. 2020: $3.9 billion
- Jan. 2021: $29.5 billion
- March 10, 2021: $45.3 billion
Other gaming companies (current valuations)
- Ubisoft: $9.58 billion
- Take-Two: $19.43 billion
- Electronic Arts: $38.09 billion
- Roblox: $45.3 billion
- Activision: $72.23 billion
- Tencent: $843.86 billion
Earnings
Revenue
- 2018: $312.8 million
- 2019: $488 million
- 2020: $923.9 million
Bookings
(i.e., total purchases or robux virtual currency, including robux not spent that year)
- 2018: $499 million
- 2019: $694.3 million
- 2020: $1.88 billion
Net losses
- 2018: $88.1 million
- 2019: $71 million
- 2020: $253.3 million
User base
Daily Active Users
- Q4 2018: 13.7 million
- Q1 2019: 15.8 million
- Q2 2019: 17.1 million
- Q3 2019: 18.4 million
- Q4 2019: 19.1 million
- Q1 2020: 23.6 million
- Q2 2020: 33.4 million
- Q3 2020: 36.2 million
- Q4 2020: 37.1 million
- $57.7: Average spending per daily active user in 2020
Total playtime
- 2018: 9.4 billion hours
- 2019: 13.7 billion hours
- 2020: 30.6 billion hours (2.6 hours per average daily active user per day)
Demographics
- 25%: Proportion of Roblox users under 9
- 29%: Proportion of Roblox users aged 9-12
- 13%: Proportion of Roblox users aged 13-16
- 16%: Proportion of Roblox users aged 17-24
- 14%: Proportion of Roblox users 25 or older
- 72%: Proportion of Roblox users playing on mobile platforms
- 25%: Proportion of Roblox users playing on PCs
- 3%: Proportion of Roblox users playing on game consoles
- 33%: Proportion of Roblox users from US and Canada
- 29%: Proportion of Roblox users from Europe
- 15%: Proportion of Roblox users from Asia
User-generated content
- 18 million: Total number of user-generated “experiences” Roblox Corp. says are on its platform
- 90%: Proportion of player hours spent on the top 1,000 most popular of those experiences
- 20 billion: Total number of visits/plays for “Adopt Me!” the most popular Roblox experience (Source)
- 8 million: Total number of active player-developers creating Roblox content
- 1.27 million: Number of those player-developers who generated in-game robux earnings from their creations in 2020
- 4,300: Player-developers who earned the equivalent of at least $350 in robux in 2020 (and qualified for the Developer Exchange Program to convert those robux to real money)
- 1,287: Player-developers who earned the equivalent of at least $10,000 in robux in 2020
- 305: Player-developers who earned the equivalent of at least $100,000 in robux in 2020
- 36: Player-developers who earned the equivalent of at least $1 million in robux in 2020
- 3: Player-developers who earned the equivalent of at least $10 million in robux in 2020
Total “exchange fees” paid to player-developers
- Q1 2018: $16.279 million
- Q2 2018: $16.495 million
- Q3 2018: $18 million
- Q4 2018: $21.1 million
- Q1 2019: $22.72 million
- Q2 2019: $23.29 million
- Q3 2019: $26.2 million
- Q4 2019: $39.76 million
- Q1 2020: $44.5 million
- Q2 2020: $85.05 million
- Q3 2020: $85.47 million
- Q4 2020: $113.71 million
- 36%: Percentage of total Roblox revenues paid in exchange fees to player-developers in 2020.
Listing image by Roblox
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